2016-05-06T13:55:01-07:00 2015-12-31 FINANCIAL STANDARDS GROUP INC 3615 NEWBURG RD LOUISVILLE KY 40218 990 2015-01-01 381441242 ELGA Credit Union ELGA 8107153542 2303 S Center Road Burton MI 48519 Karen Church CEO 2016-05-06 true William Arvo CPA P01883186 8005225820 2015 2016-09-27 15:27:22Z 34638456 false false X www.elgacu.com X 1968 MI Provide financial services and products to members. 7 7 193 11 86145 -653917 0 29767802 32861107 446508 374062 570002 1403287 30784312 34638456 0 0 8777603 9782364 0 0 15025325 13352122 23802928 23134486 6981384 11503970 387170738 437345510 344279988 382985478 42890750 54360032 Provide financial services and products to members. false false The Credit Union provides several deposit account types to members including savings, checking, certificates and other. The total number of members at 12/31/2015 was 60,488. The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2015 was 38,448. false false false false false false false false false false true false false false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false true 12375 0 true 193 true true true false false false false false false false false false false X 7 7 false false false false true true true true false false true true false true true true false true true true false X Karen Church 8107153542 2305 S Center Road Burton MI 48519 Diana Currier Chairperson 1.00 0.00 X 0 0 0 Joseph Boris V. Chairperson 1.00 0.00 X 0 0 0 Deborah Smith Secretary 1.00 0.00 X 0 0 0 Adam Oaks Board Member 1.00 0.00 X 0 0 0 Harold Mott Board Member 1.00 0.00 X 0 0 0 Stevan Pirkovic Board Member 1.00 0.00 X 0 0 0 David Hutchins Treasurer 1.00 0.00 X 0 0 0 Karen Church CEO 45.00 0.00 X 274491 0 24000 Terry Katzur EVP Lending 45.00 0.00 X 160459 0 12329 Bryan Randall CIO 45.00 0.00 X 131817 0 7393 Brian Chaffins Network Services 45.00 0.00 X 104857 0 9678 671624 53400 4 false true false Bancvue 4516 Seton Center Parkway Ste 300 Austin TX 75759 Technology/Marketing 429068 Lending Solutions Inc 2250 Point Blvd Suite 325 Elgin IL 60123 Consulting/Training 359240 Pendum 558 Lamont Road Elmhurst IL 60126 ATM Servicing 320449 Jack Henry & Assoc PO Box 609 Monett MO 65708 Data Processing 316650 IDScom 747 E Whitcomb Ave Madison Heights MI 48071 Statement Processing 266491 5 0 Fees & Charges 522100 8171244 8171244 Interchange Income 522100 4175186 4175186 Interest on Loans 522100 20514677 20514677 32861107 374062 374062 0 0 14300 14300 14300 14300 0 0 0 0 Insurance Reimbursements 524298 1356181 1302842 53339 Non-Member ATM Fees 525990 32806 32806 Sprint Reimbursements 525990 1388987 34638456 34552311 86145 0 0 0 0 471279 0 7154372 358400 1179649 618664 0 0 58668 0 0 0 0 1391312 1332012 1043612 0 607882 319216 0 0 1836931 0 1007190 135566 ATM Expense 2306483 Loan Servicing Expenses 1282525 Allowance for Loan Losses 1233616 Professional Services 465653 331456 23134486 0 0 0 5319256 5815523 20649517 38182270 0 0 0 0 331270918 368018719 0 1046194 1020211 18373715 10067894 7904276 8305821 6710875 14528316 4009631 0 0 6452261 5282460 387170738 437345510 3316861 3653169 204041 83707 340759086 379248602 344279988 382985478 X 42890750 54360032 42890750 54360032 387170738 437345510 11503970 -34688 X false false false 1899856 1899856 6952903 2869454 4083449 573809 392538 181271 4103219 3131704 971515 4843928 3674198 1169730 8305821 901000 Shares 73169049 Total Shares 306079553 379248602 X X X false false false Karen Church CEO 274491 24000 298491 Terry Katzur EVP Lending 160459 12329 172788 Part III, Additional Information All employees, including senior management, are included in Efficiency Gain payouts. Payouts are based on efficiency ratio improvement over prior 2-year average. Duane Church CEO husband 34290 CU employee salary true Kim Smith Daughter of Board Sctry) 53876 CU employee salary true Note All Credit Union true members share revenues true Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Section 501c(14) Credit Union is composed of members. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders Mergers are voted on by entire membership. Form 990, Part VI, Line 11b: Form 990 Review Process Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Employee loans are Management approved. Management loans are Credit Committee approved. Loans to Board members are Credit Committee approved. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.