2017-06-07T13:55:10-05:00 2016-12-31 381357951 PLANTE & MORAN PLLC 2601 Cambridge Ct Ste 500 Auburn Hills MI 48326 990 2016-01-01 381305916 MICHIGAN EDUCATIONAL CREDIT UNION MICH 7344559200 9200 HAGGERTY RD PLYMOUTH MI 48170 MARK M PUGLIESE CHIEF FINANCIAL OFFICER 7344559200 2017-06-05 1 LYNNE M HUISMANN P00053811 2483757100 2017-06-05 67.59.56.30 2017-06-05 08:10:45 ED P DEFD1F0A897CBD7BF18681EFA13D8C9013FA29C0 9217EF0BA3E8F2577BEA218D38C24CF1C5AC17C5 2016 2021-01-29 14:40:06Z ROBERT G SANDERCOCK 9200 HAGGERTY RD PLYMOUTH MI 48170 74023283 0 X WWW.MICHEDCU.ORG X 1942 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 82 9 57513 0 0 0 17881587 20628407 4632361 4275277 21509 25818 22535457 24929502 0 0 0 0 7975663 8532170 0 0 0 10918025 12112004 18893688 20644174 3641769 4285328 727291650 763355659 636873898 669249682 90417752 94105977 TO PROVIDE MEMBERS WITH QUALITY, COMPREHENSIVE AND COST EFFECTIVE FINANICIAL SERVICES 0 0 PROVIDE 48,830 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING 93,357. PROVIDE 42,278 LOANS INCLUDING VEHICLE, CREDIT CARD, HOME EQUITY, BUSINESS, PERSONAL, BOAT, MOTORCYCLE, MOTOR HOME, AND MORTGAGES. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 73752 0 1 82 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X MARK PUGLIESE 7344559200 9200 HAGGERTY ROAD PLYMOUTH MI 48170 Alonzo Glaze Chairperson 2.00 X 0 0 0 Steven Rodriguez Vice Chairperson 2.00 X 0 0 0 William Wooster Treasurer 2.00 X 0 0 0 Robin J E Long Secretary 2.00 X 0 0 0 Michelle Randall Director 2.00 X 0 0 0 Amy McQuiston Director 2.00 X 0 0 0 Gregory Baracy Director 2.00 X 0 0 0 Scot Szukaitis Director 2.00 X 0 0 0 Deborah Elliston Director 2.00 X 0 0 0 Robert Sandercock Chief Executive Officer 38.00 X 1294636 0 68352 Mark Pugliese Chief Financial Officer 38.00 X 309513 0 63827 Henry Willson Executive Vice President 38.00 X 281744 0 67250 Jeffrey Cusmano Vice President 38.00 X 196473 0 37282 Ellen Paparelli Vice President- Accounting 38.00 X 170173 0 41866 Gail Cochran Executive Assistant 38.00 X 142316 0 38812 Joseph Rassette IT Supervisor 38.00 X 128902 0 39317 James Brunton Collections Manager 38.00 X 125213 0 36617 David Foster Branch Manager 38.00 X 136505 0 36988 Richard Norris Branch Manager 38.00 X 126739 0 40488 2912214 0 470799 14 0 1 0 FISERV 255 FISERV DRIVE BROOKFIELD WI 53045 CORE PROESSING SYSTEM, ETC. 1919725 CO-OP FINANCIAL SERVICES 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SHARED BRANCHING, ATM NETWORK, DEBIT CAR 911380 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSING 559028 MMS MORTGAGE SERVICES LTD 38275 TWELVE MILE ROAD SUITE 100 FARMINGTON HILLS MI 48331 SUB-SERVICER OF FIRST MORTGAGE PORTFOLIO 347773 SUNTEL SERVICES 1095 CROOKS ROAD SUITE 100 TROY MI 48084 PHONE SYSTEM AND NETWORK CONFIGURATION 319375 5 LOAN INTEREST 522100 16264158 16264158 FEE/OTHER INCOME 524298 4364249 4306736 57513 20628407 4274115 4274115 29604 3786 25818 25818 25818 49091157 49089995 1162 1162 1162 24929502 24871989 57513 0 2531117 3493761 769816 1348672 388804 267248 400164 1331021 2053534 1444111 10324 244474 1903722 776874 122567 LOAN SERVICING 1766530 OTHER OPERATING EXPENSE 1298954 PROVISION FOR LOAN LOSS 468706 ASSOCIATION DUES 23775 20644174 4005697 2065792 34354486 37667817 401777513 438009463 294081 263521 21119386 11158806 10084648 9960580 245907738 241261715 14944370 17986180 15923117 16140591 727291650 763355659 3044093 3132130 633829805 666117552 636873898 669249682 X 0 0 0 0 90417752 94105977 90417752 94105977 727291650 763355659 X 4285328 -181472 -415631 X X 0 1 X 1 0 2910860 2910860 9414988 4383049 5031939 8793538 6775757 2017781 9960580 60000 C FEDERAL AGENCY SECURITIES 67429993 C CORPORATE BONDS 60035758 C MUNICIPAL BONDS 56040292 C COLLATERALIZED MORTGAGE OBLIGATIONS 56256408 C SMALL BUSINESS ADMINISTRATION SECURITY 1439264 C 241261715 MEMBER SHARES 666117552 666117552 X 1 1 X X 0 0 0 Robert Sandercock Chief Executive Officer 731360 0 75000 0 488276 0 43635 0 24717 0 1362988 0 0 0 Mark Pugliese Chief Financial Officer 252353 0 52600 0 4560 0 40070 0 23757 0 373340 0 0 0 Henry Willson Executive Vice President 249415 0 32000 0 329 0 39800 0 27450 0 348994 0 0 0 Jeffrey Cusmano Vice President 168850 0 27500 0 123 0 27489 0 9793 0 233755 0 0 0 Ellen Paparelli Vice President- Accounting 159491 0 10450 0 232 0 23343 0 18523 0 212039 0 0 0 Gail Cochran Executive Assistant 132340 0 8950 0 1026 0 18630 0 20182 0 181128 0 0 0 Joseph Rassette IT Supervisor 118832 0 10000 0 70 0 16310 0 23007 0 168219 0 0 0 James Brunton Collections Manager 115159 0 10000 0 54 0 15924 0 20693 0 161830 0 0 0 David Foster Branch Manager 130732 0 5250 0 523 0 17624 0 19364 0 173493 0 0 0 Richard Norris Branch Manager 121179 0 5250 0 310 0 16128 0 24360 0 167227 0 0 0 Part I, Line 1a Travel for companies is included with executive travel. The Credit Union has policies regarding payment or reimbursement for all expenses. Travel for companions is not treated as taxable income. Form 990, Part VI, Section A, line 6 The Credit Union has a single class of members with equal rights of ownership, governance, and voting. Form 990, Part VI, Section A, line 7a The Board of Directors is elected at the annual meeting. Every year three of the nine seats are elected for a three year term. Form 990, Part VI, Section A, line 7b Credit union decisions that are subject to membership approval are mergers, field of membership changes and by-law changes. Form 990, Part VI, Section B, line 11b A review is conducted by the CFO prior to submission to the IRS. The returns are made available to the Board of Directors after the return is filed. Form 990, Part VI, Section B, line 12c ALL EMPLOYEES SIGN AN ACKNOWLEDGEMENT OF THE CREDIT UNION POLICIES UPON HIRE WITH EACH REVISION. CONFLICT OF INTEREST IS INCLUDED. BOARD MEMBERS SIGN A CODE OF ETHICS AGREEMENT WHICH SPECIFICALLY ADDRESSES CONFLICT OF INTEREST. Form 990, Part VI, Section B, line 15 THE BOARD OF DIRECTORS PERFORMS AN EVALUATION OF THE CEO. COMPENSATION IS DETERMINED THROUGH SALARY SURVEY AND COMPARISON TO SELECT PEER GROUP. IT IS BASED ON AN EMPLOYMENT CONTRACT AND INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS. CFO AND KEY EMPLOYEES ARE EVALUATED BY THE CEO. THE CEO DETERMINES THE SALARY BASED ON COMPENSATION SURVEYS, ETC. THE LAST COMPENSATION REVIEW WAS DURING THE 2017 BUDGET PROCESS IN THE 4TH QUARTER OF 2016. Form 990, Part VI, Section C, line 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN POSTRETIREMENT HEALTH BENEFITS -415,631. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. INTERCOUNTY FINANCIAL SERVICES INC DBA MICH EDU FIN SVCS 9200 HAGGERTY ROAD PLYMOUTH MI 48170 383245456 MORTGAGE LOAN WAREHOUSING MI MICHIGAN EDUCATIONAL CREDIT UNION C 375400 11657913 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0