2016-11-12T12:23:41-07:00 2015-12-31 990 2015-01-01 381686050 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 2693829845 550 S RIVERVIEW DRIVE PARCHMENT MI 49004 Jeff Fielder Executive Vice President of Finance 2693829845 2016-11-12 2015 2017-02-10 21:41:12Z ADVIA CREDIT UNION CHERYL DEBOER 550 S RIVERVIEW DRIVE PARCHMENT MI 49004 110369567 0 X WWW.ADVIACU.ORG X 1935 MI PROVIDE COMPETITIVE DEPOSIT AND LOAN PRODUCTS TO OUR MEMBERSHIP BASE 7 7 533 10 273905 -5032 0 0 50284853 56617094 5477511 5369448 1050473 3191684 56812837 65178226 0 0 0 0 21037166 21657027 0 0 0 31742818 32538348 52779984 54195375 4032853 10982851 1086987705 1184075054 957257844 1044831277 129729861 139243777 PROVIDE COMPETITIVE DEPOSIT AND LOAN PRODUCTS TO OUR MEMBERSHIP BASE. 0 0 54195375 0 TO PROVIDE FINANCIAL ADVANTAGES TO OUR MEMBERS THROUGH THE OFFERING OF A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES. 0 0 0 54195375 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 76499 0 1 533 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEFF FIELDER 2693829845 550 S RIVERVIEW DRIVE PARCHMENT MI 49004 DIRECTORS LIST AVAILABLE UPON REQUE DIRECTOR 1 X 0 0 0 EMPLOYEE LIST AVAILABLE UPON REQUES OFFICER 40 X 1599044 0 102377 1599044 0 102377 15 0 1 0 JAMES & MATTHEW COMPANY 2 SHAKER RD STE D220 SHIRLEY MA 01464 MARKETING & PRINTING 1098302 ARCA 1151 HOLMES RD MEBANE NC 27302 EQUIPMENT & SERVICE CONTRACTS 1018248 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SOFTWARE PROVIDER 891380 LENDING SOLUTIONS CONSULTING 2200 POINT BLVD ELGIN IL 60123 LENDING SERVICES 524699 INTELLIGENT DOCUMENT SOLUTIONS 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 DOCUMENT SERVICE PROVIDER 509846 20 0 INCOME FROM LOANS 522100 37174521 37174521 0 0 FEES AND CHARGES 522100 12546792 12546792 0 0 INTERCHANGE INCOME 522100 6621876 6621876 0 0 UNRELATED BUSINESS INCOME 900099 273905 0 273905 0 0 0 0 0 56617094 5204454 5204454 0 0 0 0 0 0 0 0 0 0 0 0 45099160 257175 44850700 340641 248460 -83466 164994 164994 0 0 OTHER INCOME 522100 2965884 2965884 0 0 CUSO INVESTMENT 522100 225800 225800 0 0 0 0 0 0 3191684 65178226 64904321 273905 0 X 0 0 0 0 0 0 0 0 1599044 1599044 0 0 0 0 0 0 15728405 15728405 0 0 894243 894243 0 0 2332821 2332821 0 0 1102514 1102514 0 0 646119 646119 0 0 575961 575961 0 0 153873 153873 0 0 0 0 0 0 0 0 41736 41736 0 0 0 0 0 0 1877683 1877683 0 0 8718559 8718559 0 0 0 0 0 0 0 0 0 0 2566435 2566435 0 0 166217 166217 0 0 0 0 0 0 261216 261216 0 0 5493647 5493647 0 0 0 0 0 0 653327 653327 0 0 198587 198587 0 0 PROVISION FOR LOAN LOSS 6072060 6072060 0 0 ATM/DEBIT EXPENSE 2409973 2409973 0 0 LOAN SERVICING 1755467 1755467 0 0 OTHER OPERATING EXPENSE 612530 612530 0 0 334958 334958 0 0 54195375 54195375 0 0 14351394 15087284 27358634 41750601 0 0 0 0 0 8050000 0 0 670365802 794793173 0 0 1573165 1700577 29480712 8094718 22465174 21385994 267354264 230665167 59921558 45336468 0 0 9222194 8723463 14375520 16582327 1086987705 1184075054 11180844 13233991 0 0 0 0 0 0 0 0 0 0 5029003 42000000 0 0 941047997 989597286 957257844 1044831277 X 0 0 0 0 129729861 139243777 129729861 139243777 1086987705 1184075054 X 10982851 -1501217 0 0 0 32282 X 0 1 X 1 0 0 5688428 5688428 0 10932235 0 10932235 0 170838 130904 39934 0 12689211 7963814 4725397 0 0 0 0 21385994 0 SAVINGS AND CLUB 279087727 MONEY MARKET 327661643 SHARE DRAFT 200820555 CERTIFICATES 147968073 IRA CERTIFICATES 34059288 989597286 X 65178226 0 0 0 0 0 65178226 0 0 0 65178226 54195375 0 0 0 0 0 54195375 0 0 0 54195375 Schedule D, Part X, Line 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS TO SPECIFIC STATE CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. AS A RESULT OF ADOPTING THE INCOME TAX TOPIC OF THE FASB ASC, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS SUCH, THE CREDIT UNION HAS NOT FILED TAX RETURNS FOR REPORTING UBIT-RELATED INCOME FOR TAX YEARS PRIOR TO DECEMBER 31, 2014. THE IRS AND STATE, WHERE APPLICABLE, HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR YEARS IN WHICH NO TAX RETURN WAS FILED. MANAGEMENT HAS DETERMINED THAT THE FINANCIAL IMPACT, IF ANY, OF NOT FILING UBIT-RELATED INCOME TAX RETURNS IN PREVIOUS YEARS WOULD NOT BE MATERIAL TO THE CREDIT UNION'S FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2015 AND 2014. X X X X 0 1 0 EMPLOYEE LIST AVAILABLE UPON REQUES OFFICER 1155042 0 236386 0 207616 0 80588 0 21789 0 1701421 0 0 0 Schedule J, Part I, Line 4 CERTAIN INDIVIDUALS FROM THE CREDIT UNION'S EXECUTIVE MANAGEMENT TEAM PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). DURING 2015 THE CREDIT UNION PAID OUT $199,494 IN RETIREMENT BENEFITS. THE CREDIT UNION WILL PROVIDE A LIST OF THOSE EXECUTIVES UPON REQUEST. CHERYL KONCSOL OFFICER TO FUND LIFE INSURANCE POLICY X 5400000 5400000 0 1 1 JEFF FIELDER OFFICER TO FUND LIFE INSURANCE POLICY X 1450000 1450000 0 1 1 STEPHANIE DAVIS OFFICER TO FUND LIFE INSURANCE POLICY X 1200000 1200000 0 1 1 8050000 Form 990, Part VI, Section A, Line 6 THE CREDIT UNION HAS MEMBERS Form 990, Part VI, Section A, Line 7a THE MEMBERS ARE ALLOWED TO ELECT DIRECTORS OF THE GOVERNING BODY. Form 990, Part VI, Section A, Line 7b MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. Form 990, Part VI, Section B, Line 11b FORM 990 IS PROVIDED TO THE SUPERVISORY COMMITTEE FOR REVIEW BEFORE FILING. Form 990, Part VI, Section B, Line 12c DIRECTORS ABSTAIN FROM ANY VOTING WHERE A CONFLICT EXISTS. Form 990, Part VI, Section B, Line 15 A COMMITTEE OF THE BOARD PREPARES A WRITTEN EVALUATION OF THE CEO AND OBTAINS COMPARABLE SURVEYS. Form 990, Part VI, Section C, Line 19 RECORDS ARE MADE AVAILABLE IN ACCORDANCE WITH THE MICHIGAN CREDIT UNION ACT AND NCUA RULES AND REGULATIONS. Form 990, Part IX, Line 24e BARGAIN PURCHASE FROM MERGER: PROGRAM EXPENSES = 334,958; MANAGEMENT AND GENERAL EXPENSES = 0; FUNDRAISING EXPENSES = 0; TOTAL EXPENSES = 334,958 Form 990, Part XI, Line 9 UNREALIZED GAINS ON POST-RETIREMENT BENEFIT PLAN = 32,282 ADDITIONAL TIME IS NEEDED TO PREPARE A COMPLETE AND ACCURATE RETURN.