2017-09-01T11:57:23-05:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 380536242 CREDIT UNION ONE CRED 2483981210 400 E NINE MILE FERNDALE MI 48220 GARY MOODY PRESIDENT AND CEO 2483981210 2017-09-01 1 DOUGLAS J ORTH CPA P01076394 2482443000 50.235.194.18 2017-09-01 11:26:47 ED P 1353DC092BF0A9AADCA388267C2932B6E10091D4 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z GARY MOODY 400 EAST NINE MILE ROAD FERNDALE MI 48220 57937845 0 1359 X WWW.CUONE.ORG X 1938 MI CREDIT UNION ONE'S PRIMARY EXEMPT PURPOSE IS TO EXEMPLIFY THE HISTORICAL CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". CREDIT UNION ONE ACCOMPLISHED THIS THROUGH FINANCIAL PERFORMANCE BY PAYING $2,663,541 IN DIVIDENDS AND INTEREST ON THE DEPOSITS HELD BY OUR 134,713 MEMBERS. WE WERE ALSO ABLE TO OFFER AND MAINTAIN COMPETITIVE LOAN RATES AND WE HAVE EXTENDED TERMS ON LOANS TO MAKE THE PAYMENTS MORE AFFORDABLE.IN ADDITION, WE ACCOMPLISHED OUR EXEMPT PURPOSE BY COMMUNITY INVOLVEMENT. IN 2016 WE VOLUNTEERED OUR TIME AND TALENTS TO SUPPORT BEAUMONT HOSPITAL-CHILDREN'S MIRACLE NETWORK, WALK FOR WARMTH, WALK FOR MIRACLES, FORGOTTEN HARVEST AND HANTZ FARMS. CREDIT UNION ONE AWARDED $10,000 IN COLLEGE SCHOLARSHIPS TO GRADUATING HIGH SCHOOL SENIORS, CONTRIBUTED FUNDS TO SUPPORT BOTH THE KARMANOS CANCER INSTITUTE'S ONCOLOGY NURSING PROGRAM FOR HIGH SCHOOL MINORITY STUDENTS, AS WELL AS OUTREACH PROGRAMS. 10 10 395 12 489443 -103008 0 0 46408519 52902672 1332444 1376942 3103092 489443 50844055 54769057 10000 10000 0 0 20069635 19572101 0 0 0 25705104 32215779 45784739 51797880 5059316 2971177 1023387544 1089661350 931188645 995991389 92198899 93669961 CREDIT UNION ONE IS COMMITTED TO PROVIDING EXCEPTIONAL VALUE TO ITS MEMBERS BY DELIVERING OUTSTANDING PRODUCTS AND SERVICES ANYTIME, ANYWHERE. 0 0 CREDIT UNION ONE PARTICIPATED IN MANY CHARITABLE EVENTS INCLUDING:BEAUMONT HOSPITAL-CHILDREN'S MIRACLE NETWORK, WALK FOR WARMTH, WALK FORMIRACLES, FORGOTTEN HARVEST AND HANTZ FARMS. THE CREDIT UNION AWARDED $10,000 IN COLLEGE SCHOLARSHIPS TO 9GRADUATING HIGH SCHOOL STUDENTS IN WHICH CHECKS ARE WRITTEN DIRECTLY TOTHE SCHOOL FOR EACH SCHOLARSHIP. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 14368 0 1 395 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TINA SAUCEDO 2485845037 400 E NINE MILE FERNDALE MI 48220 GUADALUPE G LARA VICE CHAIRWOMAN 3.00 X 1594 0 0 PAUL W STUART BOARD CHAIRMAN 3.00 X 0 0 0 JAN GILLESPIE BOARD DIRECTOR 3.00 X 634 0 0 JOAN STEFANSKI SECRETARY/TREASURER 3.00 X 0 0 0 RUDOLPH R MONTANO JR BOARD DIRECTOR 3.00 X 1225 0 0 DAVID C PRYBYS BOARD DIRECTOR 3.00 X 0 0 0 RAYMOND F REDMOND BOARD DIRECTOR 3.00 X 0 0 0 JUANITA M REID BOARD DIRECTOR 3.00 X 0 0 0 GAIL WESTOVER BOARD DIRECTOR 3.00 X 0 0 0 NICK NICKOLOPOULOS BOARD DIRECTOR 3.00 X 0 0 0 CHRISTINE DOWHAN-BAILEY ASSOCIATE DIRECTOR 3.00 X 0 0 0 MARY SISSEN ASSOCIATE DIRECTOR 3.00 X 0 0 0 GARY MOODY PRESIDENT AND CEO 40.00 X 475480 0 9310 DAVID SCOTT SOMMERS SVP/CFO 40.00 X 86579 0 5512 CHRISTINA SAUCEDO SVP/CFO 40.00 X 103288 0 5625 STEPHEN GRECH EVP/LENDING 40.00 X 263232 0 15601 THOMAS SCHAEFFLER EVP/COO 40.00 X 310299 0 14515 DAVID BREUER SVP/CIO 40.00 X 235058 0 5056 SWAMINATHAN SEETHARAMAN SVP/CHIEF MEMBER EXPERIENCE 40.00 X 186545 0 14027 PAUL LEONHARDT SVP/LENDING 40.00 X 164968 0 14048 STEVEN SMITH VP/ENTERPRISE SOLUTIONS 40.00 X 127417 0 3458 RENEE MUCCIOLI VP/SALES 40.00 X 126711 0 13332 SCOTT BONACORSI SVP/CHIEF HUMAN RESOURCES 40.00 X 142227 0 13564 DONNA REID SVP,CMO 40.00 X 145563 0 12858 JULIE MILLS NEED TITLE 40.00 X 121460 0 12941 2492280 0 139847 19 0 1 0 FISERV 75 REMITTANCE DR STE 1649 CHICAGO IL 60675 DATA PROCESSING 707610 IDS 747 E WHITCOMB MADISON HEIGHTS MI 48071 PRINTING 592774 SWBC PO BOX 795027 SAN ANTONIO TX 78279 MORTGAGES 370989 FIS PO BOX 4535 CAROL STREAM IL 60197 DATA PROCESSING 349991 MEDIA LOGIC 59 WOLF ROAD ALBANY NY 12205 MARKETING 306463 38 LOANS TO CU MEMBERS 522100 34787945 34787945 PROCESSING FEES FOR MEMBER ACTIVI 522100 18114727 18114727 52902672 1343096 1343096 2848658 353976 2845027 323761 3631 30215 33846 33846 INSURANCE INCOME 524298 268628 268628 ATM INCOME 525990 220815 220815 489443 54769057 52902672 489443 1376942 10000 1912596 14659906 214613 1561653 1223333 977905 508651 545751 2687322 1496430 2352692 2463570 198663 365105 2663541 55522 2830169 292512 PROVISION FOR LOAN LOSS 8523859 LOAN SERVICING EXPENSE 2522017 DEBIT CARD EXPENSE 1923073 OTHER LOSSES 1484883 324114 51797880 15170107 13250978 88782692 139111609 999035 676031 13656921 15527418 815360328 783237265 1397978 1770637 55713560 24687295 32370109 31026265 22001932 71257676 33648442 33803471 1023387544 1089661350 15110292 15160504 916078353 980830885 931188645 995991389 X 0 0 0 0 92198899 93669961 92198899 93669961 1023387544 1089661350 X 2971177 -1145415 -354700 X X 0 1 X 1 0 6205041 6205041 31550454 11343619 20206835 326837 310288 16549 16661711 12455959 4205752 969517 577429 392088 31026265 INVESTMENT IN CUSO 2500000 C AVAILABLE FOR SALE SECURITIES 53738977 F CERTIFICATES OF DEPOSIT 15018699 C 71257676 MEMBER SHARES 980830885 980830885 X 54427073 -341984 -341984 54769057 0 54769057 51455896 0 51455896 341984 341984 51797880 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14), FROM FEDERAL INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: HOLDING LOSSES AND/OR LOSSES FROM DISPOSITION OF ASSETS -181,177. WRITEDOWN OF COLI TO CASH SURRENDER VALUE -160,807. PART XII, LINE 4B - OTHER ADJUSTMENTS: HOLDING LOSSES AND/OR LOSSES FROM DISPOSITION OF ASSETS 181,177. WRITEDOWN OF COLI TO CASH SURRENDER VALUE 160,807. 1 CANCER RESEARCH SCHOLARSHIPS 9 10000 PART I, LINE 2: THE CHECKS ARE WRITTEN DIRECTLY TO THE SCHOOL FOR EACH SCHOLARSHIP. X 1 1 X X X X 0 0 0 GARY MOODY PRESIDENT AND CEO 433704 0 0 0 41776 0 9227 0 83 0 484790 0 0 0 STEPHEN GRECH EVP/LENDING 236934 0 0 0 26298 0 5047 0 10554 0 278833 0 0 0 THOMAS SCHAEFFLER EVP/COO 241066 0 0 0 69233 0 5780 0 8735 0 324814 0 0 0 DAVID BREUER SVP/CIO 211015 0 0 0 24043 0 4642 0 414 0 240114 0 0 0 SWAMINATHAN SEETHARAMAN SVP/CHIEF MEMBER EXPERIENCE 164880 0 0 0 21665 0 3501 0 10526 0 200572 0 0 0 PAUL LEONHARDT SVP/LENDING 158917 0 0 0 6051 0 3494 0 10554 0 179016 0 0 0 SCOTT BONACORSI SVP/CHIEF HUMAN RESOURCES 140401 0 0 0 1826 0 3010 0 10554 0 155791 0 0 0 DONNA REID SVP,CMO 145390 0 0 0 173 0 2304 0 10554 0 158421 0 0 0 GARY MOODY PRESIDENT AND CEO SPLIT DOLLAR LIFE INSURANCE X 3207339 3665322 0 1 1 TOM SCHAEFFLER EVP/COO SPLIT DOLLAR LIFE INSURANCE X 3112000 3500999 0 1 1 STEVE GRECH EVP/LENDING SPLIT DOLLAR LIFE INSURANCE X 2360000 2655000 0 1 1 DAVE BREUER SVP/CIO SPLIT DOLLAR LIFE INSURANCE X 1960000 2205000 0 1 1 DAVID SOMMERS SVP/CFO SPLIT DOLLAR LIFE INSURANCE X 1600000 1800000 0 1 1 SWAMINATHAN SEETHARAMAN SVP/MEMBER EXP. OFFICER SPLIT DOLLAR LIFE INSURANCE X 1417582 1701097 0 1 1 15527418 FORM 990, PART VI, SECTION A, LINE 6 EVERY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EVERY MEMBER OF THE CREDIT UNION IS GIVEN ONE VOTE AND IS ABLE TO ELECT MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING FORM 990, PART VI, SECTION A, LINE 7B ONLY SUBSTANTIAL EVENTS ARE SUBJECT TO MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE PRESENTED AT A MEETING OF THE AUDIT COMMITTEE OF CREDIT UNION ONE. THE MEETING WILL TAKE PLACE IN JANUARY 2017. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ANNUALLY COMPLETES AND SIGNS A FORMAL CONFLICT OF INTEREST DISCLOSURE CONSISTENT WITH THE BOARD'S CODE OF ETHICS. THE DISCLOSURES ARE REVIEWED BY THE GOVERNANCE COMMITTEE FOR COMPLIANCE WITH THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION REVIEW IS PERFORMED BY THE BOARD OF DIRECTORS ANNUALLY. ALL TOP MANAGEMENT LEVEL EMPLOYEES' COMPENSATION ARE REVIEWED BY THE HEAD OF HR AND BENCHMARKED. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART XI, LINE 9: AMOUNTS RECLASSIFIED FROM OCI FROM THE GAINS/LOSSES ON AFS INVESTMENTS -10,823. POST RETIREMENT BENEFIT PLAN GAINS 107,497. POST RETIREMENT BENEFIT PLAN AMORTIZATION INCLUDED IN NET EARNINGS -34,859. PRIOR PERIOD ADJUSTMENT RELATED TO UNRECORDED LIABILITY-SEE SCH O NARRATIVE -416,515. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 9: DUE TO AN UNRECORDED LIABILITY FROM PRIOR YEARS RELATED TO INTEREST INCOME RECEIVED ABOVE STATED CONTRACT RATES, A PRIOR PERIOD ADJUSTMENT IN THE AMOUNT OF $416,515 WAS RECORDED TO INCREASE ACCRUED LIABILITIES AND TO DECREASE UNDIVIDED EARNINGS FOR THE IMPACT.