2016-05-13T14:19:55-05:00 2015-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2015-01-01 381629793 MICHIGAN SCHOOLS & GOVERNMENT CREDIT UNION MICH 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 STEVE BREWER CFO 5862638800 2016-05-13 1 LYNNE HUISMANN P00053811 2483757100 2015 2016-12-15 16:53:06Z PETER GATES 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 256432834 0 1359 X WWW.MSGCU.ORG X 1954 MI CREDIT UNION OPERATED FOR MUTUAL PURPOSES. 11 11 349 11 0 0 0 0 66126851 65481844 2976826 3191903 0 0 69103677 68673747 85686 112121 0 0 19165927 21560225 0 0 0 36837385 30271083 56088998 51943429 13014679 16730318 1543993714 1556767455 1376460570 1373220595 167533144 183546860 X WE ARE A CARING ORGANIZATION DEDICATED TO PROMOTING FINANCIAL SUCCESS FOR OUR MEMBERS. 0 0 MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION IS A FULL SERVICE FINANCIAL INSTITUTION SERVING APPROXIMATELY 102,534 MEMBERS. THE CREDIT UNION FOCUSES ON MEETING THE NEEDS OF MEMBERS AND POTENTIAL MEMBERS WHO LIVE AND WORK IN MICHIGAN. MAJOR PRODUCTS AND SERVICES INCLUDE CONSUMER LENDING, SAVINGS AND INVESTMENT PRODUCTS, MORTGAGE LENDING, AND FINANCIAL EDUCATION AND SCHOLARSHIP PROGRAMS. DURING 2015, 232 FINANCIAL EDUCATION WORKSHOPS ON MONEY MANAGEMENT TOPICS AND 30 COMMUNITY RELATION EVENTS WERE PROVIDED TO MEMBERS. THE SCHOLARSHIP PROGRAM AWARDED OVER $80,000 TO STUDENTS SEEKING HIGHER EDUCATION DURING 2015 AND THE CLASSROOM GRANT PROGRAM AWARDED OVER $44,000 TO LOCAL EDUCATORS TO BE USED DURING THE 2015/2016 SCHOOL YEAR. ALSO DURING 2015, MSGCU KICKED OFF ITS GIVING BACK PROGRAM. IN TOTAL MSGCU PROVIDED MORE THAN $12,000 IN FINANCIAL ASSISTANCE AND HUNDREDS OF VOLUNTEER HOURS TO LOCAL COMMUNITY ORGANIZATIONS AND NON-PROFIT GROUPS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 22423 0 1 349 1 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PETER GATES 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 MILO PERREAULT CHAIRMAN 1.00 X X 0 0 0 WILLIAM CAYEN VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD MAIERLE SECRETARY 1.00 X X 0 0 0 STEPHEN THOMAS DIRECTOR 1.00 X 0 0 0 DOUGLAS SMITH DIRECTOR 1.00 X 0 0 0 EDWARD CALLAGHAN DIRECTOR 1.00 X 0 0 0 JAMES MCCANN TREASURER 1.00 X X 0 0 0 RICHARD SHOEMAKER DIRECTOR 1.00 X 0 0 0 CHARLES THOMAS DIRECTOR 1.00 X 0 0 0 TERESA DIMARIA DIRECTOR 1.00 X 0 0 0 ELIZABETH ARGIRI DIRECTOR 1.00 X 0 0 0 PETER GATES CEO 40.00 X 619021 0 46532 ROBERT BREWER CFO 40.00 X 271772 0 41090 SCOTT TOWNSEND CIO 40.00 X 225358 0 31759 MICHAEL ZALEWSKI VP HR 40.00 X 178016 0 32788 LORIE DIETZ VP MARKETING & BUSINESS DEVELOPMENT 40.00 X 167594 0 33386 DEBORAH FAHRNEY VP RETAIL SERVICES 40.00 X 170231 0 32935 1631992 0 218490 7 0 1 0 FRANK REWOLD AND SON INC 333 E SECOND STREET ROCHESTER MI 48307 CONSTRUCTION SERVICES 1542865 KASCO INC 226 EAST HUDSON AVENUE ROYAL OAK MI 48067 CONSTRUCTION SERVICES 1442395 AMERICAN INTERIORS PO BOX 73442 CLEVELAND OH 44193 INTERIOR DESIGN/FURNITURE 798513 IDSCOM 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 DOCUMENT SOLUTIONS 690977 HARRISON MEDIA 24416 CROCKER BOULEVARD CLINTON TOWNSHIP MI 48036 MARKETING 482052 40 LOAN INCOME 522100 53724507 53724507 FEE INCOME 522100 11585997 11585997 SALE OF LOANS 522100 171340 171340 65481844 3321369 2878501 442868 178386453 9243168 178217732 9541355 168721 -298187 -129466 -129466 68673747 68360345 0 313402 44621 67500 665553 13808415 1206262 4739947 1140048 197750 1238226 1244384 1619121 1933264 1606937 87095 84190 336005 2917883 DIVIDEND AND INTEREST E 7702713 PROVISION FOR LOAN LOSS 5425000 OPERATING EXPENSES 3455934 LOAN SERVICING EXPENSE 1689393 733188 51943429 4277270 4643396 66662051 112616720 1165982116 1145562189 1027241 1017723 44430968 11287531 31630033 33143437 221950071 199900816 13622200 13024400 38842732 46858774 1543993714 1556767455 6448889 7576152 1533592 1703414 1368478089 1363941029 1376460570 1373220595 X 0 0 0 0 167533144 183546860 167533144 183546860 1543993714 1556767455 16730318 -716602 0 X X 0 1 X 1 0 0 1 X 9425560 9425560 21464514 3735393 17729121 13540894 7552138 5988756 33143437 MEMBERS SHARES 1363941029 1363941029 X PART IV, LINE 2B: WE HOLD (PROPERTY TAX AND HAZARD INSURANCE) ESCROW FOR SOME MEMBERS WITH FIRST MORTGAGE LOANS, TOTALING $1,692,296 AS OF DECEMBER 31, 2015 PART X, LINE 2: MSGCU IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. MSGCU IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. MSGCU'S WHOLLY OWNED SUBSIDIARIES, SOC REAL ESTATE AND 20595 LIVONIA LLC, HOWEVER, ARE SUBJECT TO FEDERAL AND STATE INCOME TAXES. MANAGEMENT EVALUATED MSGCU'S TAX POSITIONS AND CONCLUDED THAT MSGCU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. MSGCU FILES IRS FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) AND OTHER FORMS IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MICHIGAN. 1 2 COLLEGE SCHOLARSHIPS 27 67500 PART I, LINE 2: AN APPLICATION IS REQUIRED FROM THE TEACHER APPLYING FOR THE GRANT. GRANTS ARE PAYABLE DIRECTLY TO THE SCHOOL AND TEACHERS FILE PAPERWORK WITH THEIR SCHOOL FOR REIMBURSEMENT OF CLASSROOM EXPENSES. WE HAVE A COMMITTEE THAT REVIEWS APPLICATIONS AND AWARDS SCHOLARSHIPS TO SELECTED INDIVIDUALS. X X 1 1 X X X X 0 1 0 PETER GATES CEO 561155 0 46091 0 11775 0 28027 0 18505 0 665553 0 0 0 ROBERT BREWER CFO 240006 0 27472 0 4294 0 24327 0 16763 0 312862 0 0 0 SCOTT TOWNSEND CIO 199033 0 22364 0 3961 0 15230 0 16529 0 257117 0 0 0 MICHAEL ZALEWSKI VP HR 157740 0 17653 0 2623 0 16571 0 16217 0 210804 0 0 0 LORIE DIETZ VP MARKETING & BUSINESS DEVELOPMENT 150173 0 16741 0 680 0 17193 0 16193 0 200980 0 0 0 DEBORAH FAHRNEY VP RETAIL SERVICES 151141 0 15956 0 3134 0 16838 0 16097 0 203166 0 0 0 PART I, LINE 1A BOARD MEMBERS ARE REIMBURSED FOR CREDIT UNION RELATED TRAVEL AS WELL AS COMPANION TRAVEL EXPENSES. THE AMOUNTS REIMBURSED FOR COMPANIONS ARE INCLUDED IN TAXABLE COMPENSATION. WE ALSO HAVE A WELLNESS INCENTIVE WHICH ALL EMPLOYEES ARE ELIGIBLE FOR AND IS TAXABLE. PART I, LINE 4B THE CEO PARTICIPATES IN A 457(F) PLAN. HE RECEIVED NO PAYMENTS IN 2015. FORM 990, PART VI, SECTION A, LINE 6 EACH INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 11 THE CEO, CFO, AND ACCOUNTING MANAGER REVIEW THE COMPLETED 990 FORM PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS (MOST RECENTLY DECEMBER 2015), CEO COMPENSATION IS RECOMMENDED BY THE PERSONNEL COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF DIRECTORS, AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. ON AN ANNUAL BASIS, ALL OTHER EMPLOYEE COMPENSATION IS SET BY THE CEO, EXECUTIVE TEAM, AND HUMAN RESOURCES. WE UTILIZE A THIRD PARTY COMPENSATION CONSULTANT IN JOB PRICING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBLITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. 20595 LIVONIA LLC 28366 FRANKLIN SOUTHFIELD MI 48034 455324142 HOLDING COMPANY FOR LAND MI 0 670731 MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION SOC REAL ESTATE INC 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 382658390 REAL ESTATE MI MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION C -239728 3354147 1.00000 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 SOC REAL ESTATE INC K 595540 MARKET LEASE RATES PER SQ FOOT SOC REAL ESTATE INC K 8648 ACTUAL COST SOC REAL ESTATE INC L 120000 ALLOCATION