Credit Unions Chartered In The State Of Michigan
- Assets
- $691.0m
- Revenue
- $30.3m
- Investments
- $23.0m
- Employees
- 226
- Location
- Jackson, MI
- Founding
- Data as of
- 12/2021
- EIN
- 38-1453620
Organization Overview
Credit Unions Chartered In The State Of Michigan is located in Jackson, MI. As of 12/2021, Credit Unions Chartered In The State Of Michigan employed 226 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE LEGACY-DEFINING MOMENTS FOR THE PEOPLE AND PLACES WE SERVE FOR GENERATIONS TO COME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRUE COMMUNITY CREDIT UNION PROVIDES A SPECTRUM OF DEPOSIT AND LOAN PRODUCTS FOR OUR MEMBERS AND PROVIDES FINANCIAL EDUCATION FOR THE COMMUNITY TO CULTIVATE THE LEGACY-DEFINING MOMENTS FOR THOSE WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Siders President/ceo | Officer | 40 | $323,615 |
Terry French Investments Services Rep | 40 | $214,936 | |
Jason Matley Evp Startegy & Transformation | Officer | 40 | $201,710 |
Valerie Schuette Chief Operations Officer | Officer | 40 | $199,702 |
Jeff Thomasson Senior Mortgage Lending Spec | 40 | $173,013 | |
Sarah Ermatinger Chief Experience Officer | Officer | 40 | $168,753 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Diebold Nixdorf Incorporated Atm Installation/support | 12/30/21 | $391,758 |
Finastra Usa Corporation Mobile App | 12/30/21 | $306,676 |
Jack Henry And Associates Software Service | 12/30/21 | $582,258 |
Doxim Inc Statement/marketing Materials | 12/30/21 | $336,166 |
Glory Global Solutions Inc Coin Dispenser | 12/30/21 | $235,794 |
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 | $29,335,301 |
| Investment income | $1,053,896 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$49,854 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,339,343 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,168,188 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,600,188 |
| Pension plan accruals and contributions | $1,381,617 |
| Other employee benefits | $1,312,033 |
| Payroll taxes | $827,606 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,058 |
| Fees for services: Accounting | $91,677 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,284,834 |
| Advertising and promotion | $1,450,837 |
| Office expenses | $1,519,686 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,180,541 |
| Travel | $40,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $128,643 |
| Interest | $1,715,319 |
| Payments to affiliates | $22,095 |
| Depreciation, depletion, and amortization | $1,298,292 |
| Insurance | $119,098 |
| All other expenses | -$308,952 |
| Total functional expenses | $26,190,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,406,110 |
| Savings and temporary cash investments | $152,550,990 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,411,109 |
| Loans from Officers, Directors, or Controlling Persons | $3,200,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $426,522,967 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,055,851 |
| Net Land, buildings, and equipment | $7,245,220 |
| Investments—publicly traded securities | $47,116,610 |
| Investments—other securities | $22,966,955 |
| Investments—program-related | $0 |
| Intangible assets | $356,600 |
| Other assets | $8,216,067 |
| Total assets | $691,048,479 |
| Accounts payable and accrued expenses | $4,972,283 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $619,207,081 |
| Total liabilities | $625,179,364 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $65,869,115 |
| Total liabilities and net assets/fund balances | $691,048,479 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Credit Unions Chartered In The State Of Michigan has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Michigan Credit Union Foundation Plymouth, MI PURPOSE: COMMUNITY ENRICHMENT GRANTS | $20,000 |
View Grant Recipient Profile
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Dental Association Chicago, IL | $257,052,700 | $138,597,450 |
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
American College Of Surgeons Chicago, IL | $595,958,812 | $134,561,979 |
Ascension Medical Group Promed St Louis, MO | $11,680,037 | $91,054,014 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Aspirus Medical Group Inc Wausau, WI | $76,960,726 | $101,291,684 |
Point Park University Pittsburgh, PA | $213,510,842 | $122,379,566 |
Mid-Ohio Foodbank Grove City, OH | $66,739,553 | $150,715,504 |
Rosalind Franklin University Of Medicine & Science North Chicago, IL | $321,942,163 | $130,066,998 |
St Vincents Health System Inc St Louis, MO | $135,464,874 | $115,601,105 |
Michigan Public Health Institute Okemos, MI | $32,297,029 | $129,374,853 |