2015-08-17T08:49:18-05:00 2014-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2014-01-01 381543701 KALSEE CREDIT UNION KALS 2693827800 2501 MILLCORK KALAMAZOO MI 49001 RUDY CALLEN CEO/TREASURER 2693827800 2015-08-07 1 ROBERT PARKS CPA P00740435 2482443000 2014 2016-03-07 17:11:31Z RUDY CALLEN 2501 MILLCORK KALAMAZOO MI 49001 31728575 0 1359 X WWW.KALSEE.COM X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 6 73 0 418016 -156161 0 0 7165353 7499137 1073513 1013758 537079 418016 8775945 8930911 0 0 0 0 3028044 3289768 0 0 0 4782076 5057073 7810120 8346841 965825 584070 141888092 146568018 125921829 129664128 15966263 16903890 TO PROVIDE AND PROMOTE A WIDE RANGE OF FINANCIAL SERVICES TO HELP OUR MEMBERS GAIN PERSONAL FINANCIAL SUCCESS. 0 0 PROVIDE 20,235 MEMBERS WITH SAVINGS, CHECKING, CLUB, MONEY MARKET, INDIVIDUAL RETIREMENT AND CERTIFICATES OF DEPOSIT ACCOUNTS TOTALING $127,373,789.43. PROVIDE 8,633 CREDIT CARD, VEHICLE, REAL ESTATE, CONSTRUCTION, UNSECURED, BUSINESS, AND LINE OF CREDIT LOANS. OFFER ATM AND DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, COURTESY PAY, MONEY ORDERS, TRAVEL CARDS, ELECTRONIC BANKING, FINANCIAL COUNSELING, INVESTMENTS AND INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 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 3846 0 1 73 1 1 1 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 1 1 0 1 0 0 1 1 1 1 0 X AMBER STEVENS 2693827807 2501 MILLCORK KALAMAZOO MI 49001 DAVID STUUT CHAIRMAN 2.00 X X 0 0 0 JOSEPH MARTIN VICE CHAIRMAN 2.00 X X 0 0 0 RONALD NEMEDI SECRETARY 2.00 X X 0 0 0 ROBERT MOORE BOARD MEMBER 2.00 X 0 0 0 BEN DANIELSON BOARD MEMBER 2.00 X 0 0 0 RUDY CALLEN CEO/TREASURER 60.00 X X 145515 0 29966 MICHELLE SHINEVARE BOARD MEMBER 2.00 X 0 0 0 AMBER STEVENS CFO 45.00 X 82283 0 6508 MATHEW LAHMAN COO 45.00 X 98355 0 25485 326153 0 61959 1 0 1 0 VANTIV HOLDING LLC 8500 GOVERNORS HILL DRIVE SYMMES TOWNSHIP OH 45249 ATM/DEBIT CARD PROCESSOR 511479 CU ANSWERS 6000 28TH ST SE STE100 GRAND RAPIDS MI 49546 CORE DATA PROCESSOR 468674 FIS 3031 N ROCKY POINT TAMPA FL 33607 VISA PROCESSOR 202702 MMS MORTGAGE 38275 TWELVE MILE RD STE 100 FARMINGTON HILLS MI 48331 MORTGAGE LENDER 112024 4 LOAN INTEREST 522100 5089795 5089795 FEES/CHARGES 522100 2409342 2409342 7499137 1054554 1054554 22550819 206049 22532986 264678 17833 -58629 -40796 -40796 FINANCIAL SERVICES 525990 192956 192956 SHARED BRANCH SERVICES 525990 106821 106821 NON-MEMBER ATM FEES 525990 77497 77497 40742 40742 418016 8930911 7499137 418016 1013758 388112 2005391 222081 471345 202839 2750 61580 112288 206146 354363 11250 525030 37031 121358 1987 156710 43721 LOAN SERVICING EXPENSE 1060148 CREDIT/DEBIT CARD EXPEN 744855 INTEREST/DIVIDEND EXPEN 690369 PROVISION FOR LOAN LOSS 631507 295980 8346841 2760395 1752063 629034 838368 450000 75503524 86012964 79988 133251 7879723 1496271 6665799 6383452 51281131 46250734 4968221 4747186 141888092 146568018 1194799 2290339 124727030 127373789 125921829 129664128 X 0 0 0 0 15966263 16903890 15966263 16903890 141888092 146568018 X 584070 79634 273923 X 0 0 0 1726565 1726565 5501836 1201967 4299869 651322 294304 357018 6383452 CUSO INVESTMENTS 386232 C MORTGAGE BACKED SECURITIES 13628675 F CORPORATE NOTES 5255038 F INVESTMENT VALUATION RESERVE -471025 F CCU HIGH YIELD DAILY 354 F SBA INVESTMENTS 27451460 F 46250734 MEMBER SHARES 127373789 127373789 X 1 1 X X X X 0 1 0 RUDY CALLEN CEO/TREASURER 138206 0 7309 0 0 0 8617 0 21349 0 175481 0 0 0 PART I, LINE 1A BEACON CLUB MEMBERSHIP - THIS MEMBERSHIP IS FOR KEY EMPLOYEE'S TO TAKE CLIENTS TO LUNCH/DINNER FOR BUSINESS PURPOSES ONLY. IN THE EVENT A KEY EMPLOYEE UTILIZES THE ACCOUNT FOR PERSONAL REASONS, THEY ARE RESPONSIBLE FOR THE COSTS. KALSEE PAYS $50 ANNUALLY FOR 10 EMPLOYEES WHICH INCLUDE THE CEO, COO, CFO, AND THE BOARD OF DIRECTORS. ALSO SAM'S CLUB MEMBERSHIPS - 8 CARDS FOR MANAGEMENT TEAM. PART I, LINE 4B RUDY CALLEN, CEO, PARTICIPATES IN A SPLIT DOLLAR LIFE INSURANCE PLAN WITH A CASH VALUE OF $450,000. RUDY CALLEN CEO AND TREASURER SPLIT DOLLAR LIFE INSURANCE X 500000 450000 0 1 1 450000 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 BOARD MEMBERS ARE NOMINATED AND THEN ELECTED BY MAIL VOTE BY THE MEMBERSHIP. RESULTS OF THE MAIL VOTE ARE ANNOUNCED AT THE ANNUAL MEETING. EACH BOARD MEMBER IS ELECTED FOR A 3 YEAR TERM. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS THOROUGHLY REVIEWED BY THE CFO AND THE CEO PRIOR TO FILING. A COPY IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS MADE UP OF SELECTED BOARD OF DIRECTORS MEMBERS, WHICH USE COMPENSATION SURVEYS TO APPROVE COMPENSATION FOR THE CEO. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2014. KEY EMPLOYEE COMPENSATION IS DETERMINED BY REVIEWS CONDUCTED BY THE CEO AND HUMAN RESOURCES AND ARE APPROVED BY THE BOARD OF DIRECTORS. THE LAST COMPENSATION REVIEW WAS PERFORMED IN 2014. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION'S LOBBIES. THE GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE MAIN OFFICE. FORM 990, PART XI, LINE 9: RETIREE HEALTH BENEFITS 158 - OCI 71,754. SPLIT DOLLAR CSV ADJUSTMENT 64,113. SHARED BRANCHING SETTLEMENT 138,056. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS ARE DONE ON A FISCAL YEAR END AND TAX REPORTING IS REQUIRED ON A CALENDAR YEAR END.