Credit Unions Chartered In The State Of Michigan

Credit Unions Chartered In The State Of Michigan Overview

Credit Unions Chartered In The State Of Michigan is located in Grand Rapids, MI. The organization was established in 1956. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2016, Credit Unions Chartered In The State Of Michigan employed 1,253 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 12/2018, Credit Unions Chartered In The State Of Michigan generated $341.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $243.4m during the year ending 12/2018. While expenses have increased by 11.6% per year over the past 4 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2018

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INTEREST INCOME


DEBIT / CREDIT INTERCHANGE


OVERDRAFT / NSF


PROVIDING LOW LOAN RATES AND HIGH DEPOSIT RATES TO OUR MEMBER OWNERS.


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Credit Unions Chartered In The State Of Michigan Board, Officers & Key Employees

Name (title)Compensation
List Available Upon Request
Board Member
$0
Sandy Jelinski
CEO
$0
Peter Dann
CFO
$0

Credit Unions Chartered In The State Of Michigan Vendors

Vendor Name (Service)Compensation
At&t
Phone
$2,896,354
Cbc Innovis
Credit
$1,379,618
Loretta
Tax
$1,202,831
Jack Henry
Banking Softwar
$1,122,829
Newco
Building
$2,303,595
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $15,487,545
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $341,427,909

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