2017-10-04T12:21:18-05:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 381489454 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 9898355100 600 W WACKERLY STREET MIDLAND MI 48641 CHARLES OTTO VICE PRESIDENT 9898355100 2017-10-02 1 JACK C TRACY P01974742 2482443000 50.235.194.18 2017-10-02 22:07:07 ED P 062293E64DF58CF8D35332F263D6456F83B37FCF 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2021-01-29 14:40:06Z MEMBERS FIRST CREDIT UNION ERIC BRUBAKER 600 W WACKERLY STREET MIDLAND MI 48641 26770227 0 X WWW.MFCU.NET X 1936 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 10 10 197 15 74920 -36509 0 0 21653658 25286874 1248162 1304748 0 0 22901820 26591622 0 0 0 0 8502901 9182065 0 0 0 11703631 13940963 20206532 23123028 2695288 3468594 370414326 390656272 331816263 348616423 38598063 42039849 TO MAKE A POSITIVE DIFFERENCE IN THE LIVES OF OUR MEMBERS AND COMMUNITY BY PROVIDING FINANCIAL SERVICES TO OUR MEMBERS IN THE FORM OF DEPOSIT AND LOAN SERVICES. 0 0 PROVIDE NEARLY 50,000 MEMBERS WITH SAVING, CHECKING, MONEY MARKET, IRA AND CERTIFICATE OF DEPOSIT ACCOUNTS TOTALING OVER 94,000. PROVIDE OVER 46,000 LOANS INCLUDING HOME EQUITY, FIRST MORTGAGE, VEHICLE, LINE OF CREDIT, SIGNATURE, BUSINESS, AND CREDIT CARD. OFFER AUTOMATED TELLER MACHINES, ONLINE BANKING, BILL PAYMENT, DEBIT CARDS, WIRE TRANSFERS, OVERDRAFT PRIVILEGE, AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9493 0 1 197 1 1 1 0 0 0 0 0 X 10 10 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MEMBERS FIRST CREDIT UNION 9898355100 600 W WACKERLY STREET MIDLAND MI 48641 ROBERT COOPER CHAIRPERSON 4.00 X 0 0 0 KEVIN BROTT VICE CHAIRPERSON 4.00 X 0 0 0 GEORGE YOST SECRETARY 4.00 X 0 0 0 LARRY SHERWOOD TREASURER 4.00 X 0 0 0 DAVID THOMPSON DIRECTOR 4.00 X 0 0 0 DIANE BECHTEL DIRECTOR 4.00 X 0 0 0 ELIZABETH CHRISTIANSEN DIRECTOR 4.00 X 0 0 0 DAVID CRONK JR DIRECTOR 4.00 X 0 0 0 CLARE TAYLOR JR DIRECTOR 4.00 X 0 0 0 JOSEPH ASHCROFT DIRECTOR 4.00 X 0 0 0 ERIC BRUBAKER PRESIDENT/CEO 40.00 X 330314 0 27642 CHARLES OTTO VP OF FINANCE 40.00 X 146060 0 10914 CARRIE IAFRANTE EVP OF DEVELOPMENT 40.00 X 196861 0 20049 AMY GARVER VP MEMBER SERVICES 40.00 X 118948 0 20331 PAMELA AYERS VP LENDING 40.00 X 115018 0 10462 JEREMY GOLDSWORTHY VP IT 40.00 X 116474 0 9465 JOSEPH WEHNER COMM SERV DIR 40.00 X 123500 0 20511 1147175 0 119374 7 0 1 0 FIDELITY NATIONAL INFORMATION SERVICES 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 PAYMENT AND NETWORK SYSTEMS 1469600 MAINLINE INFORMATION SYSTEMS INC 1700 SUMMIT LAKE DR TALLAHASSEE FL 32317 NETWORK SYSTEMS AND IT SOLUTIONS 1001411 JACK HENRY & ASSOCIATES INC 663 W HIGHWAY 60 MONETT MO 65708 CORE PROCESSING SYSTEMS 396898 Q2 13785 RESEARCH BLVD STE 150 AUSTIN TX 78750 ONLINE BANKING SYSTEMS 308382 DIEBOLD NIXDORF INC 5995 MAYFAIR ROAD N CANTON OH 44720 FINANCIAL RETAIL ATM & POS SERVICES 303918 18 LOAN INTEREST 522100 15924298 15924298 FEES AND OTHER 522100 9287656 9287656 UNRELATED BUSINESS INCOME 900099 74920 74920 25286874 1155657 1155657 327696 178605 149091 149091 149091 26591622 26516702 74920 0 514930 514930 6803001 6803001 406587 406587 839904 839904 617643 617643 15710 15710 45360 45360 249738 249738 866030 866030 4217062 4217062 678431 678431 82692 82692 574836 574836 1322381 1322381 1481196 1481196 115952 115952 PROVISION FOR LOAN LOSS 3059960 3059960 LOAN SERVICING FEES 1098219 1098219 EXAM FEES/ASSOC DUES 118053 118053 LOSSES ON DEPOSIT ACCOU 15343 15343 23123028 23123028 0 0 4698031 6230562 27667335 17962332 28335 77435 221855793 242434563 571264 664008 21577786 7028250 14208798 14549536 30423988 38692906 63690488 61183189 7270294 8861741 370414326 390656272 2381863 2655860 329434400 345960563 331816263 348616423 X 0 0 0 0 38598063 42039849 38598063 42039849 370414326 390656272 3468594 -26808 0 X X 0 1 X 1 0 2299769 2299769 11519135 2662111 8857024 7758882 4366139 3392743 14549536 CMC INVESTMENT VALUATION 41133 C BROKERED CD'S 52791806 C CUSO INVESTMENTS 388450 C FHLB STOCK 618800 C LONG TERM CD'S 7343000 C 61183189 MEMBER DEPOSITS 345960563 345960563 X 26591622 0 26591622 0 26591622 23123028 0 23123028 0 23123028 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES BUT STILL MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UNRELATED BUSINESS INCOME IS INCOME FROM A TRADE OR BUSINESS REGULARLY CARRIED ON BY A TAX EXEMPT ORGANIZATION THAT IS NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSES. X X X 0 1 0 ERIC BRUBAKER PRESIDENT/CEO 247468 0 79246 0 3600 0 9952 0 17690 0 357956 0 0 0 CHARLES OTTO VP OF FINANCE 119654 0 26406 0 0 0 4240 0 6674 0 156974 0 0 0 CARRIE IAFRANTE EVP OF DEVELOPMENT 164366 0 32495 0 0 0 5984 0 14065 0 216910 0 0 0 PART I, LINE 4B ONE PARTICIPANT IN A COLLATERAL ASSIGNED SPLIT DOLLAR ARRANGEMENT FOR WHICH NO ACTUAL FUNDS WERE DISTRIBUTED. FORM 990, PART VI, SECTION A, LINE 4 THE NUMBER OF BOARD MEMBERS WAS REDUCED FROM 11 TO 10 BY A CHANGE IN THE BYLAWS OF THE CREDIT UNION SUBMITTED AND APPROVED BY THE STATE OF MICHIGAN, DEPARTMENT OF FINANCIAL SERVICES. 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 MEMBERS OF THE BOARD OF DIRECTORS HAVE STAGGERED TERMS OF 3 YEARS AND THEIR ELECTION IS HELD ANNUALLY AT AN ANNUAL MEETING FOR THE FULL MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE BYLAW CHANGES. ANY CHANGE IN THE CREDIT UNION'S BYLAWS ARE APPROVED BY A VOTE OF THE FULL MEMBERSHIP AT THE ANNUAL MEETING OR A SPECIAL MEETING CALLED FOR THAT PURPOSE. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS CONDUCTED BY THE VICE PRESIDENT PRIOR TO SUBMISSION TO THE IRS. A FULL COPY OF THE 990 RETURN IS PROVIDED TO THE BOARD OF DIRECTORS FOR THEIR ANNUAL REVIEW AND DISCUSSION AT A REGULAR MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CREDIT UNION HAS A FULL-TIME AUDIT AND COMPLIANCE DEPARTMENT WHOM, WHITH THE HUMAN RESOURCES MANAGER, ENSURES COMPLIANCE WITH REGULATIONS AND STATUTES. THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT SIGN A CONFLICT OF INTEREST DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 A PERSONNEL COMMITTEE COMPOSED OF SEVERAL MEMBERS OF THE BOARD OF DIRECTORS PERFORM AN ANNUAL REVIEW OF THE PRESIDENT/CEO WHICH IS THEN SUBMITTED TO THE FULL BOARD OF DIRECTORS. A PERSONNEL COMMITTEE COMPOSED OF SEVERAL MEMBERS OF THE BOARD OF DIRECTORS SET THE OVERALL EMPLOYEE COMPENSATION, BENEFIT PARAMETERS AND ANNUAL INCREASE GUIDELINES WHICH ARE THEN APPROVED BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIALS ARE POSTED AT EACH BRANCH AND ANNUAL FINANCIALS ARE PROVIDED TO ALL MEMBERS AT THE ANNUAL MEETING OF THE MEMBERSHIP. THEY ARE ALSO AVAILABLE UPON REQUEST. CREDIT UNION POLICIES ARE REVIEWED AT LEAST ANNUALLY AT A MEETING OF THE BOARD OF DIRECTORS AND ARE AVAILABLE UPON REQUEST TO BE REVIEWED AT THE CREDIT UNION'S CORPORATE HEADQUARTERS DURING REGULAR BUSINESS HOURS. THE CREDIT UNION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST TO BE REVIEWED AT THE CREDIT UNION'S CORPORATE HEADQUARTERS DURING REGULAR BUSINESS HOURS.