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 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 12/2020, Credit Unions Chartered In The State Of Michigan employed 325 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 12/2020, Credit Unions Chartered In The State Of Michigan generated $59.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $50.2m during the year ending 12/2020. While expenses have increased by 10.7% per year over the past 6 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 37 individual grants totaling $384,672. 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

2020

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 69 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 80,177 MEMBERS BY OFFERING COMPETITIVELY-PRICED SAVINGS & LOANS PRODUCTS AS WELL AS OTHER FINANCIAL PRODUCTS.


Do You Work With Nonprofits?Intellispect helps service providers identify nonprofit prospects and make contact with decision makers.

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

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

Credit Unions Chartered In The State Of Michigan Vendors

Vendor Name (Service)Compensation
Co-op
Card Processor
$1,815,351
Jack Henry & Associates Inc
Core Processor Services
$676,686
Mastercard
Credit Card Processor
$651,799
Doxim Inc
Mailing Services
$349,364
First Look
Appraisal Services
$543,215
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$54,671,202
Investment income $487,040
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 $59,570,795

Credit Unions Chartered In The State Of Michigan Grants Awarded

Over the last fiscal year, Credit Unions Chartered In The State Of Michigan has awarded $320,017 in support to 32 organizations.

Grant RecipientAmount

CANTON FOUNDATION (SCHOLARSHIPS)

Org PageRecipient Profile

Canton, MI

PURPOSE: GENERAL SUPPORT

$27,391

DETROIT CRISTO REY

Org PageRecipient Profile

Detroit, MI

PURPOSE: GENERAL SUPPORT

$18,390

SALVATION ARMY OF PLYMOUTH

Org PageRecipient Profile

Southfield, MI

PURPOSE: GENERAL SUPPORT

$16,488

AMERICAN RED CROSS

Org PageRecipient Profile

Washington, DC

PURPOSE: GENERAL SUPPORT

$15,350

PLYMOUTH-CANTON EDUCATIONAL EXCELLENCE FOUNDATION

Org PageRecipient Profile

Plymouth, MI

PURPOSE: GENERAL SUPPORT

$15,000

HABITAT FOR HUMANITY OF WESTERN WAYNE COUNTY

Org PageRecipient Profile

Canton, MI

PURPOSE: GENERAL SUPPORT

$12,500
View Grant Profile

Credit Unions Chartered In The State Of Michigan 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

Create a Free Account

Create an account to unlock the data you need.

or
I