2015-09-28T14:33:44-05:00 2014-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2014-01-01 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 2015-09-15 1 JOSEPH ZITO CPA P00648440 2482443000 2014 2016-02-25 16:41:14Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 78226158 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI THE CREDIT UNION'S PURPOSE IS TO PROVIDE COMPETITIVE DEPOSIT AND LOAN PRODUCTS TO THEIR MEMBERSHIP BASE ACCORDING TO THE MICHIGAN CREDIT UNION ACT. 7 7 229 7 536080 0 0 0 27208260 26999390 958511 1163095 1476364 1204693 29643135 29367178 0 0 0 0 10135277 12606155 0 0 0 13269026 14054442 23404303 26660597 6238832 2706581 509950485 529870943 455475811 472685432 54474674 57185511 TO MAXIMIZE STAKEHOLDER VALUE. 0 0 LOANS MONEY MARKET ACCOUNTS DEBIT CARDS 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 23231 0 1 229 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 0 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 437541 0 15999 PHILIP COOPER EXECUTIVE VP/COO 40.00 X 238673 0 12607 KELLI WISNER-FRANK CFO 40.00 X 156268 0 5827 DANIEL MUNRO CIO 40.00 X 150993 0 5772 ALAN BERGSTROM CMO 40.00 X 29062 0 160 WENDI DIACONO FINANCIAL PLANNER 40.00 X 145343 0 5272 TERESA MAYER VP LENDING 40.00 X 125342 0 4842 MICHAEL SPENCE INDIRECT LENDING MANAGER 40.00 X 135188 0 9770 SUSAN SETERA VP OF OPERATIONS 40.00 X 125523 0 4801 ELIZABETH SPADAFORE COMMERCIAL LENDING MANAGER 40.00 X 140062 0 5182 1683995 0 70232 12 0 1 0 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 ATM MAINT & SECURITY 687593 SMZ PO BOX 72552 CLEVELAND OH 44192 ADVERTISING 579317 HOLZMAN CORKERY PLLC 28366 FRANKLIN ROAD SOUTHFIELD MI 48034 LEGAL & RECOVERY SERVICES 187307 STUCKY VITALE ARCHITECTS 27172 WOODWARD AVE ROYAL OAK MI 48067 REMODELING SERVICES 161499 DATA MAIL SERVICES INC 747 E WHITCOMB MADISON HEIGHTS MI 48071 MAIL STMTS & NOTICES 157312 9 MEMBER LOANS 522100 19200703 19200703 FEE INCOME 522100 7798687 7798687 26999390 1043050 1043050 48180573 798452 48121938 737042 58635 61410 120045 120045 GAIN FROM CUSO 522100 668613 668613 INVESTMENT INCOME 525990 396408 396408 INSURANCE INCOME 524298 94922 94922 44750 44750 1204693 29367178 27668003 536080 1163095 1052902 8890135 237377 1585197 840544 246887 104597 442746 996959 1184601 1891314 60426 84080 1059552 130256 PROVISION FOR LOAN LOSS 2319731 CREDIT/DEBIT CARD EXPEN 1519581 LOAN SERVICING FEES 1227156 DATA PROCESSING 1210631 1575925 26660597 4910870 7212045 23799804 20524114 4487453 4661545 372400541 422926008 936572 764623 34106262 14188001 17636775 19918261 71890774 31809368 13887696 22054979 509950485 529870943 4116182 4693716 9513545 5995000 441846084 461996716 455475811 472685432 X 0 0 0 0 54474674 57185511 54474674 57185511 509950485 529870943 2706581 4256 0 X X 0 1 X 1 0 5508144 5508144 17706748 6945509 10761239 8180516 7242492 938024 2710854 2710854 19918261 INVESTMENTS - AVAILABLE FOR SALE 31809368 F 31809368 MEMBER SHARES 461996716 461996716 X 29367178 0 29367178 0 29367178 26660597 0 26660597 0 26660597 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, 2014 (2011-2014). X X 1 1 X X X X X 0 0 0 ROBERT BAVA CEO 361994 0 64344 0 11203 0 7800 0 8199 0 453540 0 0 0 PHILIP COOPER EXECUTIVE VP/COO 192636 0 35776 0 10261 0 7236 0 5371 0 251280 0 0 0 KELLI WISNER-FRANK CFO 120767 0 24058 0 11443 0 4977 0 850 0 162095 0 0 0 DANIEL MUNRO CIO 115830 0 23960 0 11203 0 4722 0 1050 0 156765 0 0 0 WENDI DIACONO FINANCIAL PLANNER 0 0 135082 0 10261 0 4498 0 774 0 150615 0 0 0 THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES 117795 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 7451 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 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 60000 CASH COMMUNITY CHOICE FOUNDATION O 50250 ESTIMATE COMMUNITY CHOICE FOUNDATION P 39300 CASH