Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Bay City, 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 90 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 $10.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $8.8m during the year ending 12/2021. While expenses have increased by 2.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE SERVICE TO OUR MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

SERVED APPROXIMATELY 17,500 MEMBERS BY OFFERING LOANS, DEPOSITS, AND VARIOUS OTHER FINANCIAL SOLUTIONS TO ENSURE FINANCIAL SUCCESS TO OUR MEMBERSHIP.


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Board, Officers & Key Employees

Name (title)Compensation
Diane Abbonizio
CEO
$221,921
Doug Kelley
CFO
$127,020
Craig Tidwell
COO
$120,103
Donald Goulet
Board Chair
$0
Dennis Geno
Treasurer
$0
Kelly Johnson
Secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Member Driven Technology
Technology Support
$570,317
Member Driven Technology
Technology Support
$570,317
Dieboldnixdorf Inc
Atm Service Contracts And Repairs/ Cash
$108,842
Yeo & Yeo Computer Consulting Llc
Technology/phone System Support
$140,597
Yeo & Yeo Computer Consulting Llc
Technology/phone System Support
$140,597
Dieboldnixdorf Inc
Atm Service Contracts And Repairs/ Cash
$108,842
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$9,682,412
Investment income $535,703
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$47,819
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,170,296

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