Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Plymouth, MI. The organization was established in 1956. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Credit Unions Chartered In The State Of Michigan employed 339 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions Chartered In The State Of Michigan is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Credit Unions Chartered In The State Of Michigan generated $61.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $48.7m during the year ending 12/2021. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2018, Credit Unions Chartered In The State Of Michigan has awarded 103 individual grants totaling $1,037,459. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COMMUNITY FINANCIAL CREDIT UNION IS A STATE CHARTERED, NOT-FOR-PROFIT, FULL-SERVICE FINANCIAL INSTITUTION OWNED AND GOVERNED BY ITS MEMBERSHIP. AT COMMUNITY FINANCIAL, WE ARE COMMITTED TO OUR MEMBERS AND OUR COMMUNITIES. FOR OVER 70 YEARS, WE'VE PROVIDED OUR MICHIGAN MEMBERS COMPETITIVELY-PRICED SAVINGS & LOANS PRODUCTS, OUTSTANDING SERVICE AND SUPPORT TO THEIR NEIGHBORHOODS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTE THRIFT TO 83,565 MEMBERS BY OFFERING COMPETITIVELY-PRICED SAVINGS & LOANS PRODUCTS AS WELL AS OTHER FINANCIAL PRODUCTS.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Mastercard
Credit Card Processor
$692,380
Co-op
Card Processor
$2,082,259
Jack Henry & Associates Inc
Core Processor Services
$603,480
First Look
Appraisal Services
$525,191
Doxim Inc
Mailing Services
$427,890
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$57,422,331
Investment income $449,130
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $44,906
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $61,092,324

Grants Awarded

Over the last fiscal year, Credit Unions Chartered In The State Of Michigan has awarded $332,770 in support to 34 organizations.

Grant RecipientAmount

CANTON COMMUNITY FOUNDATION

Org PageRecipient Profile

Canton, MI

PURPOSE: GENERAL SUPPORT

$30,402

SALVATION ARMY OF PLYMOUTH

Org PageRecipient Profile

Southfield, MI

PURPOSE: GENERAL SUPPORT

$20,000

AMERICAN CANCER SOCIETY

Org PageRecipient Profile

Kennesaw, GA

PURPOSE: GENERAL SUPPORT

$19,543

AMERICAN RED CROSS

Org PageRecipient Profile

Washington, DC

PURPOSE: GENERAL SUPPORT

$15,096

PLYMOUTH-CANTON EDUCATIONAL EXCELLENCE FOUNDATION

Org PageRecipient Profile

Plymouth, MI

PURPOSE: GENERAL SUPPORT

$15,000

DETROIT CRISTO REY

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$14,250
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Credit Unions Chartered In The State Of Michigan has recieved totaling $18,000.

Awarding OrganizationAmount
National Credit Union Foundation Inc

Madison, WI

PURPOSE: FINANCIAL HEALTH SEGMENTATION GRANTS

$18,000
View Grant Recipient Profile

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