2016-11-15T11:55:51-06:00 2015-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2015-01-01 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 2016-11-11 1 JOSEPH ZITO CPA P00648440 2482443000 2015 2017-02-10 21:41:12Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 66709717 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. 7 7 306 7 607777 -169715 0 0 26999390 31809510 1163095 1699309 1204693 3087562 29367178 36596381 0 0 0 0 12606155 16129349 0 0 0 14054442 17913569 26660597 34042918 2706581 2553463 529870943 736654004 472685432 665682670 57185511 70971334 TO MAXIMIZE STAKEHOLDER VALUE. 0 0 LOANS DEPOSIT ACCOUNTS DEBIT CARD SERVICES 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 1 0 1 0 0 0 0 0 1 1 1 0 1 27519 0 1 306 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 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 X 0 0 0 BRIAN WILSON VICE CHAIRPERSON 1.00 X X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 MARTHA SCHULTZ TREASURER 1.00 X X 0 0 0 GARY KLOTZ CHAIRPERSON 1.00 X X 0 0 0 THOMAS COOK DIRECTOR 1.00 X 0 0 0 MARY KATHERINE BONUTTI DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 472678 0 17345 PHILIP COOPER LEFT 042015 EXECUTIVE VP/COO 40.00 X 290020 0 5347 KELLI WISNER-FRANK CFO 40.00 X 142050 0 4768 DANIEL MUNRO CIO 40.00 X 221664 0 11639 ALAN BERGSTROM CMO 40.00 X 175621 0 5154 WENDI DIACONO FINANCIAL PLANNER 40.00 X 162090 0 6444 TERESA MAYER VP LENDING 40.00 X 144552 0 5336 DONNA SIEJUTT VP HUMAN RESOURCES 40.00 X 134174 0 4584 SUSAN SETERA VP OF OPERATIONS 40.00 X 134733 0 4549 TRACY PAOLUCCI-CAMERON VP OF RETAIL DELIVERY 40.00 X 136163 0 6667 2013745 0 71833 16 0 1 0 SMZ PO BOX 72552 CLEVELAND OH 44192 MARKETING SERVICES 999843 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM EQUIPMENT, MAINTENANCE SERVICES 580503 IDSCOM 747 E WHITCOMB MADISON HEIGHTS MI 48071 PRINTING & MAILING 269224 HOLZMAN CORKERY PLLC 28366 FRANKLIN ROAD SOUTHFIELD MI 480345503 LEGAL & RECOVERY SERVICES 253508 SAA-ARCHITECTS 214 S BROADWAY ST STE 110 LAKE ORION MI 48362 REMODELING SERVICES 136291 7 MEMBER LOANS 522100 22661753 22661753 FEE INCOME 522100 9147757 9147757 31809510 1736384 1736384 29651228 425033 29650305 463031 923 -37998 -37075 -37075 GAIN FROM CUSO 522100 1309952 1309952 GAIN ON BARGAIN PURCHASE ACQUISIT 522100 1169833 1169833 FINANCIAL SERVICES INCOME 525990 459518 459518 148259 148259 3087562 36596381 34289295 607777 1699309 1346286 11570023 294920 1892352 1025768 326545 113148 643706 1806444 1580031 2445742 100689 180597 1555525 167624 CREDIT/DEBIT CARD EXPEN 1992527 LOAN SERVICING FEES 1563947 DATA PROCESSING 1550658 PROVISION FOR LOAN LOSS 1133188 2753198 34042918 7212045 12549742 20524114 54182714 4661545 5493534 422926008 561313085 764623 1338627 43456042 15692780 19918261 27763262 31809368 46287329 22054979 27725711 529870943 736654004 4693716 7448199 5995000 35413792 461996716 622820679 472685432 665682670 X 0 0 0 0 57185511 70971334 57185511 70971334 529870943 736654004 X 2553463 -198124 11430484 X X 0 1 X 1 0 6791942 6791942 23120055 7705778 15414277 10701913 7987002 2714911 2842132 2842132 27763262 INVESTMENTS - AVAILABLE FOR SALE 46287329 F 46287329 MEMBER SHARES 622820679 622820679 X 36634379 37998 37998 36596381 0 36596381 34080916 37998 37998 34042918 0 34042918 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE 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 FIVE YEAR PERIOD ENDED DECEMBER 31, 2015 (2012-2015). PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON OREO 37,998. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON OREO 37,998. X 1 1 X X X X X 0 1 0 ROBERT BAVA CEO 392394 0 80284 0 0 0 7950 0 9395 0 490023 0 0 0 PHILIP COOPER LEFT 042015 EXECUTIVE VP/COO 248707 0 41313 0 0 0 3555 0 1792 0 295367 0 0 0 DANIEL MUNRO CIO 189037 0 32627 0 0 0 6264 0 5375 0 233303 0 0 0 ALAN BERGSTROM CMO 165200 0 10421 0 0 0 4194 0 960 0 180775 0 0 0 WENDI DIACONO FINANCIAL PLANNER 41250 0 120840 0 0 0 4971 0 1473 0 168534 0 0 0 PART I, LINE 4B OPENED A 457F PLAN FOR ROBERT BAVA IN 2015. THERE WERE NO CONTRIBUTIONS OR DISTRIBUTIONS FOR THE CURRENT YEAR. THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES 166091 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 10221 ROBERT BAVA WAS A BOARD MEMBER OF SALUS GROUP BENEFITS WHICH PROVIDES BENEFITS TO EMPLOYEES OF COMMUNITY CHOICE CREDIT UNION. 0 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 11 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 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN BUSINESS COMBINATION 11,641,181. PENSION PLAN AMORTIZATION -210,697. 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 MEMBER FIRST MORTGAGE SALUS GROUP BENEFITS KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR COMMERCIAL ALLIANCE. 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 0 0 0 1 1 0 0 0 COMMUNITY CHOICE FOUNDATION B 85000 CASH COMMUNITY CHOICE FOUNDATION O 72184 CASH COMMUNITY CHOICE FOUNDATION P 33771 CASH