2014-05-14T14:14:48-05:00 2013-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE COURT STE 500 AUBURN HILLS MI 48326 990 2013-01-01 381627404 CREDIT UNIONS CHARTERED IN THE OUR CREDIT UNION CRED 2485493838 3070 NORMANDY ROAD ROYAL OAK MI 48073 CHRISTINE DIX CFO 2485493838 2014-05-12 1 LYNNE M HUISMANN P00053811 2483757100 2013 2015-11-30 17:44:51Z CHRISTINE DIX 3070 NORMANDY ROAD ROYAL OAK MI 48073 45703966 0 1359 X WWW.OURCUONLINE.ORG X 1959 MI WE ARE COMMITTED TO THE FINANCIAL WELL-BEING OF OUR MEMBERS, EMPLOYEES AND LOCAL COMMUNITIES. INDIVIDUALS, BUSINESSES, AND THE COMMUNITY WILL SEE US AS A PARTNER IN HELPING THEM ACHIEVE THEIR FINANCIAL GOALS AND ASPIRATIONS. OUR EMPLOYEES WILL HAVE PRIDE IN THE WORK THEY DO, AND IN TURN WILL FEEL VALUED, REWARDED AND RECOGNIZED FOR THEIR CONTRIBUTION. 7 7 85 7 317287 0 0 0 7774707 7562962 1413817 1778434 0 0 9188524 9341396 0 0 0 0 3184544 3130517 0 0 0 5308663 4548394 8493207 7678911 695317 1662485 207484441 208133560 189767736 190473445 17716705 17660115 AS A MEMBER-OWNED FINANCIAL COOPERATIVE, WE WILL UPHOLD THE HIGHEST STANDARDS IN OUR RELATIONSHIPS WITH MEMBERS, EMPLOYEES, AND THE COMMUNITY. WE WILL MAINTAIN EARNINGS AND RESERVES WHICH PROMOTE SOUND GROWTH AND ENCOURAGE MEMBER CONFIDENCE. 0 0 PROMOTED THRIFT TO 21,153 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER RELATED FINANCIAL PRODUCTS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2284 0 1 85 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 0 1 1 1 1 0 X DANIEL MAIORANO 2485493838 3070 NORMANDY ROAD ROYAL OAK MI 48073 KAREN MASSUCCI DIRECTOR 2.00 X 0 0 0 JEREMY WATER DIRECTOR 2.00 X 0 0 0 JOEL DESHANE BOARD VICE CHAIRMAN 2.00 X X 0 0 0 JAMES DRESBACH BOARD SECRETARY 2.00 X X 0 0 0 KATHLEEN DEYO BOARD TREASURER 2.00 X X 0 0 0 JOSEPH KRIPLI BOARD CHAIRMAN 3.00 X X 0 0 0 BRIAN COOK DIRECTOR 2.00 X 0 0 0 CHRISTINE DIX PRESIDENT/CEO 40.00 X 160508 0 651 STACY WILSON CHIEF OPERATIONS OFFICER 40.00 X 87223 0 465 THOMAS BARAN CHIEF RISK OFFICER 40.00 X 79845 0 11386 DANIEL MAIORANO CHIEF FINANCIAL OFFICER 40.00 X 3023 0 0 DEBORAH THOMPSON FORMER PRESIDENT/CEO 40.00 X 50008 0 1401 380607 0 13903 1 0 1 0 FISERV EFT PO BOX 60000 SAN FRANCISCO CA 94111 ATM PROCESSING 478415 FISERVE INC 75 REMITTANCE DRIVE SUITE 6942 CHICAGO IL 60675 CORE SYSTEM 108487 2 INTEREST ON LOANS 522100 4549873 4549873 FEES AND CHARGES 525990 3013089 2695802 317287 7562962 1271263 1271263 34967580 1902161 34896289 1466281 71291 435880 507171 507171 9341396 8516938 317287 507171 343101 2222861 93024 263757 207774 76858 63087 74798 100114 158608 297695 516078 286439 17879 48570 925290 114376 223314 CREDIT CARD AND BILL EX 643854 LOAN SERVICING 304350 ATM FEE 199796 PROVISION FOR LOAN LOSS 155282 342006 7678911 3233929 2033670 18380309 18681620 88365996 93091849 6981769 3042096 4210871 3939673 9532968 8103050 78605428 78285491 5154940 3998207 207484441 208133560 1401982 933149 4005 2281 1000000 0 187361749 189538015 189767736 190473445 X 3273619 3273619 0 0 14443086 14386496 17716705 17660115 207484441 208133560 1662485 -1719075 0 X 0 1 X 0 0 0 1 X 837512 837512 4373686 1639791 2733895 1770571 1402305 368266 3939673 MORTGAGE BACKED SECURTIES 11139328 F U.S. AGENCY ISSUED COLLATERALIZED MORTGAGE OBLIGATIONS 31193726 F ASSET BACKED AND OTHER AMORTIZING 33905376 F CORPORATE BONDS 2047061 F 78285491 MEMBERS SHARE AND SAVINGS 189538015 189538015 9212752 0 9212752 128644 128644 9341396 7550267 0 7550267 128644 128644 7678911 PART IV, LINE 2B: ESCROW ACCOUNT IS HELD FOR TAXES, INSURANCE, AND MORTGAGE INSURANCE FOR SOME MORTGAGE LOANS. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAINS AND LOSSES 1,364 LOAN SERVICING EXPENSE 130,008 PART XII, LINE 4B - OTHER ADJUSTMENTS: GAINS AND LOSSES 1,364 LOAN SERVICING EXPENSE 130,008 X X X X 0 0 0 CHRISTINE DIX PRESIDENT/CEO 160508 0 0 0 0 0 0 0 651 0 161159 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 21,153 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY CEO, COO, AND CFO BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 15 CEO'S COMPENSATION IS REVIEWED AND ESTABLISHED BY THE COMPENSATION COMMITTEE (3 INDIVIDUAL BOARD MEMBERS). THEY UTILIZE INDUSTRY DATA (CUES & MCUL) FOR REVIEW AND DETERMINATION OF COMPENSATION. THE BOARD OF DIRECTORS HAS APPROVED THE COMPENSATION POLICY. THE BOARD OF DIRECTORS APPROVES PAY GRADES. COMPARIBILITY DATA IS USED FOR ALL OTHER STAFF INCLUDING THE EXECUTIVE MANAGEMENT THROUGH COMPEASE TO DETERMINE SALARY GRADES. DEPARTMENTS SUPERVISORS AND MANAGERS REVIEW AND PREPARE APPRAISAL EVALUATIONS. BASED ON THE APPRAISALS THE HUMAN RESOUCES DEPARTMENT PREPARES THE RECOMMENDED PAY RATE CHANGES. FINAL WRITTEN APPROVAL IS GIVEN BY THE CEO. THE PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM IN THE LOBBY AND UPON REQUEST. THE GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.