Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan, operating under the name Astera Credit Union, is located in Lansing, 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, Astera Credit Union employed 89 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Astera Credit Union 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, Astera Credit Union generated $10.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $9.5m during the year ending 12/2021. 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

TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET, CERTIFICATES, AND IRA ACCOUNTS.


PROVIDE LOANS INCLUDING CREDIT CARDS, REAL ESTATE, NEW AND USED VEHICLES (INCLUDING RECREATIONAL VEHICLES), AND UNSECURED LOANS.


OFFER ATM/DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, MONEY ORDERS, AND OVERDRAFT/COURTESY PAY SERVICES.


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Board, Officers & Key Employees

Name (title)Compensation
Martin Carter
President/ceo
$209,762
Debra Miles
CFO
$182,037
Chris Tyler
Senior VP Operations
$129,346
Harold Brown
Membership Officer
$0
Jason Hawkins
Chairman
$0
Anthony Edwards
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $204,905
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$204,905
Total Program Service Revenue$9,594,800
Investment income $661,257
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $154,626
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,615,588

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