Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Dearborn, 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 12/2021, Credit Unions Chartered In The State Of Michigan employed 643 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 $181.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $116.7m during the year ending 12/2021. While expenses have increased by 2.4% 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 2014, Credit Unions Chartered In The State Of Michigan has awarded 37 individual grants totaling $704,500. 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

HIGHLY PERSONALIZED SERVICE, EASY TO UNDERSTAND, FINANCIAL EXPERTISE OFFERING A FULL RANGE OF FINANCIAL SERVICES AND PRODUCTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HIGHLY PERSONALIZED SERVICE, EASY TO UNDERSTAND, FINANCIAL EXPERTISE OFFERING A FULL RANGE OF FINANCIAL SERVICES AND PRODUCTS.


HIGHLY PERSONALIZED SERVICE, EASY TO UNDERSTAND, FINANCIAL EXPERTISE OFFERING A FULL RANGE OF FINANCIAL SERVICES AND PRODUCTS.


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Board, Officers & Key Employees

Name (title)Compensation
Mark Shobe
CEO
$2,813,709
Bradley Sova
Investment Consultant
$1,407,045
John Friday
Investment Consultant
$673,747
Brian Mell
Investment Consultant
$510,852
Keri Boyd
Executive VP Retail Financial Services
$478,997
Vince Pittiglio
Cio
$475,116

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$102,729,933
Investment income $73,146,819
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $5,407,674
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $181,284,426

Grants Awarded

Over the last fiscal year, Credit Unions Chartered In The State Of Michigan has awarded $82,000 in support to 4 organizations.

Grant RecipientAmount

HENRY FORD HEALTH SYSTEM

Org PageRecipient Profile

Detroit, MI

PURPOSE: Grants are made in locations where we do business to better the communities we serve.

$45,000

THE HENRY FORD

PURPOSE: Donations made in communities where we do business to improve the community.

$20,000

DETROIT PUBLIC SCHOOL FOUNDATION

Org PageRecipient Profile

Detroit, MI

PURPOSE: Grant made in communities we do business in to better the communities we serve.

$10,000

DEARBORN PUBLIC SCHOOL FOUNDATION

Org PageRecipient Profile

Dearborn, MI

PURPOSE: Donations in locations where we do business to improve the community.

$7,000
View Grant Profile

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