2017-11-14T17:08:41-06:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 380960035 CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION CRED 8772432528 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 ROBERT BAVA CEO 8772432528 2017-11-14 1 JOSEPH ZITO CPA P00648440 2482443000 40.141.134.7 2017-11-14 17:25:26 ES P 062293E64DF58CF8D35332F263D6456F83B37FCF 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2017-02-10 21:41:12Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 41839443 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. 8 8 326 8 764809 -175449 0 0 31809510 37610547 1699309 1806275 3087562 1922621 36596381 41339443 0 0 0 0 16129349 18509042 0 0 0 17913569 20743774 34042918 39252816 2553463 2086627 736654004 850069648 665682670 777032442 70971334 73037206 WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE. 0 0 LOANS DEPOSIT ACCOUNTS DEBIT CARD SERVICES 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 1 1 1 0 1 30743 0 1 326 1 1 1 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KELLI WISNER-FRANK 8772432528 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 ROBERT BIGA SECRETARY 1.00 X 0 0 0 BRIAN WILSON CHAIRMAN 1.00 X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 MARTHA SCHULTZ TREASURER 1.00 X 0 0 0 THOMAS COOK DIRECTOR 1.00 X 0 0 0 MARY KATHERINE BONUTTI DIRECTOR 1.00 X 0 0 0 TIMOTHY CROSSON JR V. CHAIRMAN 1.00 X 0 0 0 MICHAEL PALAZZOLO DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 520697 0 18083 KELLI WISNER-FRANK CFO 40.00 X 193059 0 6530 DANIEL MUNRO COO/EVP 40.00 X 277026 0 14906 ALAN BERGSTROM CMO 40.00 X 203331 0 6963 TERESA MAYER VP LENDING 40.00 X 202056 0 6294 DONNA SIEJUTT VP HUMAN RESOURCES 40.00 X 160620 0 5492 WENDI DIACONO FINANCIAL PLANNER 40.00 X 157839 0 5292 SUSAN SETERA VP OF OPERATIONS 40.00 X 146886 0 4969 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP MANAGER 40.00 X 204805 0 10272 JENNIFER LYNN HURREN VP E-COMMERCE 40.00 X 146224 0 4938 MICHAEL MCCAULEY FINANCIAL PLANNER 40.00 X 122761 0 4609 2335304 0 88348 11 0 1 0 SMZ PO BOX 72552 CLEVELAND OH 44192 MARKETING SERVICES 1460960 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM EQUIPMENT, MAINTENANCE SERVICES 379080 ADAPT TELEPHONY SERVICES LLC 600 ENTERPRISE DR SUITE 204 OAK BROOK IL 60523 COMMUNICATIONS 291666 RONNISCH CONSTRUCTION GROUP 4327 DELEMERE COURT ROYAL OAK MI 48073 CONSTRUCTION 284025 HOLZMAN CORKERY PLLC 28366 FRANKLIN ROAD SOUTHFIELD MI 480345503 LEGAL & RECOVERY SERVICES 233724 18 MEMBER LOANS 522100 28060350 28060350 FEE INCOME 522100 9550197 9550197 37610547 1790076 1790076 516199 500000 16199 16199 16199 GAIN FROM CUSO 522100 1157812 1157812 FINANCIAL SERVICES INCOME 525990 504465 504465 INSURANCE INCOME 524298 197602 197602 62742 62742 1922621 41339443 38768359 764809 1806275 X 1615057 13049975 395902 2267241 1180867 164005 262886 93415 609504 2246695 2427508 924071 971017 65662 2739708 30885 1923578 267950 DEBIT/CREDIT EXPENSES 2662529 LOAN SERVICING 1669896 MAINTENANCE 1614400 PROVISION FOR LOAN LOSS 989212 1080853 39252816 12549742 11644249 20492411 5404915 5493534 5377318 561313085 706916851 1338627 1171769 46223883 17612978 27763262 28610905 51595961 41786382 37682362 27630452 391468 18425020 21135339 736654004 850069648 7448199 9560837 35413792 36854854 622820679 730616751 665682670 777032442 X 0 0 0 0 70971334 73037206 70971334 73037206 736654004 850069648 X 2086627 -85917 65162 X X 0 1 X 1 0 8460264 8460264 25254635 8583429 16671206 12508984 9029549 3479435 28610905 MEMBER SHARES 730616751 730616751 X 41339443 0 41339443 0 41339443 39252816 0 39252816 0 39252816 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14)), FROM FEDERAL INCOME TAXES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE FOUR YEAR PERIOD ENDED DECEMBER 31, 2016 (2013-2016). X 1 1 X X X X X 1 1 0 ROBERT BAVA CEO 428981 0 91716 0 0 0 7950 0 10133 0 538780 0 0 0 KELLI WISNER-FRANK CFO 170439 0 22620 0 0 0 5930 0 600 0 199589 0 0 0 DANIEL MUNRO COO/EVP 234482 0 42544 0 0 0 7939 0 6967 0 291932 0 0 0 ALAN BERGSTROM CMO 175525 0 27806 0 0 0 6003 0 960 0 210294 0 0 0 TERESA MAYER VP LENDING 174384 0 27672 0 0 0 5694 0 600 0 208350 0 0 0 DONNA SIEJUTT VP HUMAN RESOURCES 141069 0 19551 0 0 0 4892 0 600 0 166112 0 0 0 WENDI DIACONO FINANCIAL PLANNER 41250 0 116589 0 0 0 4692 0 600 0 163131 0 0 0 SUSAN SETERA VP OF OPERATIONS 125169 0 21717 0 0 0 4369 0 600 0 151855 0 0 0 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP MANAGER 95236 0 109569 0 0 0 6072 0 4200 0 215077 0 0 0 JENNIFER LYNN HURREN VP E-COMMERCE 114812 0 31412 0 0 0 4338 0 600 0 151162 0 0 0 PART I, LINES 4A-B KATHRYN WHITE RECEIVED A CHANGE OF CONTROL PAYMENT IN THE AMOUNT OF $96,762. ROBERT BAVA-CEO, DAN MUNRO-EVP, AND KELLI WISNER-FRANK CFO PARTICIPATE IN A 457F PLAN. THERE WERE NO DISTRIBUTIONS DURING THE TAX YEAR. THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES 195425 THOMAS COOK OWNS A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). 0 ROBERT BAVA BOARD MEMBER OF SALUS GROUP BENEFITS 11344 ROBERT BAVA WAS A BOARD MEMBER OF SALUS GROUP BENEFITS WHICH PROVIDES BENEFITS TO EMPLOYEES OF COMMUNITY CHOICE CREDIT UNION. 1 FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE AND IS ABLE TO VOTE FOR THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS MADE BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS; HOWEVER, DAY TO DAY DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS, MANAGEMENT, AND TEAM MEMBERS MUST BE TRAINED, REVIEW, AND SIGN OFF ON A CONFLICT OF INTEREST STATEMENT LISTING ANY POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT IS LISTED OR FOUND, EACH IS REVIEWED ON A CASE BY CASE BASIS. ANY CONFLICTS THAT ARE FOUND ARE DEALT WITH IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A THIRD PARTY VENDOR, COMPEASE, THROUGH HRN MANAGEMENT GROUP TO ASSESS AND EVALUATE EVERY POSITION IN THE ORGANIZATION. COMPEASE, DEVELOPED BY KOKER GOODWIN AND ASSOCIATES, IS SALARY ADMINISTRATION SOFTWARE THAT HELPS DEVELOP AND MAINTAIN COMPETITIVE PAY RATES AND IMPROVE EMPLOYEE PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART IX, LINE 24E ATM EXPENSES 548,234. TRAINING/DEVELOPMENT/EDUCATION 504,406. MISCELLANEOUS EXPENSE 28,213. FORM 990, PART XI, LINE 9: PENSION PLAN AMORTIZATION 65,162. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: ROBERT BAVA IS ON THE BOARD OF DIRECTORS OF THE FOLLOWING CREDIT UNION SERVICE ORGANIZATIONS: MEMBER DRIVEN TECHNOLOGIES SALUS GROUP BENEFITS KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR COMMERCIAL ALLIANCE AND MEMBER FIRST MORTGAGE. COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 PUBLIC CHARITY MI 501(C)(3) 7 COMMUNITY CHOICE CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 COMMUNITY CHOICE FOUNDATION B 5000 CASH COMMUNITY CHOICE FOUNDATION L 20898 CASH COMMUNITY CHOICE FOUNDATION O 70621 CASH