Michigan Community Credit Union Michigan EECU A Community Credit Union
- Assets
- $165.6m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 54
- Location
- Jackson, MI
- Founding
- Data as of
- 12/2016
- EIN
- 38-1681122
Organization Overview
Michigan Community Credit Union Michigan EECU A Community Credit Union is located in Jackson, MI. As of 04/2017, Michigan Community Credit Union Michigan EECU A Community Credit Union employed 54 individuals. Michigan Community Credit Union Michigan EECU A Community 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 12/2016, Michigan Community Credit Union Michigan EECU A Community Credit Union generated $8.7m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $7.7m during the year ending 12/2016. While expenses have increased by 8.7% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
A FULL-SERVICE FINANCIAL SERVICES ORGANIZATION SERVING MEMBERS SINCE 1936.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS TO MEMBERS
SAVINGS ACCOUNTS
CHECKING ACCOUNTS
LOANS TO MEMBERS
SAVINGS ACCOUNTS
CHECKING ACCOUNTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Hamilton Former CEO | 40 | $104,043 | |
Teresa Mayer Interim CEO | Officer | 40 | $13,846 |
Victor Marshall Board Chairman | OfficerTrustee | 10 | $0 |
Kathy Egan Secretary/treasurer | OfficerTrustee | 8 | $0 |
Cherly Marks Vice Chairman | OfficerTrustee | 5 | $0 |
Howard Adams Board Chairman | Trustee | 2 | $0 |
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 | $7,897,236 |
| Investment income | $252,366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,929 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,683,489 |
| 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. | $135,592 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,077,746 |
| Pension plan accruals and contributions | $100,235 |
| Other employee benefits | $329,565 |
| Payroll taxes | $208,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,444 |
| Fees for services: Accounting | $46,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $373,771 |
| Office expenses | $382,377 |
| Information technology | $497,912 |
| Royalties | $0 |
| Occupancy | $315,084 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,727 |
| Interest | $620,736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $329,248 |
| Insurance | $39,022 |
| All other expenses | $674,697 |
| Total functional expenses | $7,675,977 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,006,233 |
| Savings and temporary cash investments | $17,182,815 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,136 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $138,090,153 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,631,182 |
| Net Land, buildings, and equipment | $2,283,099 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,395,787 |
| Total assets | $165,591,405 |
| Accounts payable and accrued expenses | $1,748,624 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $148,933,170 |
| Total liabilities | $150,681,794 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $14,909,611 |
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