2024-10-21T16:02:53-05:00 2023-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 381418180 CHRISTIAN FINANCIAL CREDIT UNION CHRI 5867726330 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 PATRICIA CAMPBELL PRESIDENT & CEO 5867726330 2024-10-14 1 0 JOHN J MURNANE JR P03021572 2482443000 2024-10-13 2023 2024-10-15 13:58:12Z PATRICIA CAMPBELL 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 45045481 0 1359 X WWW.CHRISTIANFINANCIALCU.COM X 1950 MI AT CHRISTIAN FINANCIAL CREDIT UNION, OUR MISSION IS TO PROVIDE AN ENVIRONMENT THAT DELIVERS HIGH-QUALITY PRODUCTS AND SERVICES THAT PROMOTE CONVENIENCE, TRUST, AND PERSONAL SERVICE TO ASSIST OUR MEMBERS IN ACHIEVING THEIR FINANCIAL SUCCESS. 11 11 209 11 1276698 0 0 0 31492325 39618253 4057827 4117272 182671 -219097 35732823 43516428 167502 265002 0 0 13384144 14689202 0 0 0 16038996 21980201 29590642 36934405 6142181 6582023 819959969 847893640 742673125 764264921 77286844 83628719 X CHRISTIAN FINANCIAL SERVICES NEARLY 57,000 MEMBERS IN METROPOLITAN DETROIT. CHARTERED IN 1950 THE CREDIT UNION'S MISSION IS TO PROVIDE MEMBERS CUSTOMIZED SOLUTIONS TO ENHANCE THEIR FINANCIAL WELL-BEING THROUGH A TRUSTED PARTNERSHIP WITH A DEDICATED TEAM OF PROFESSIONALS FOCUSED ON EXCEEDING THEIR EXPECTATIONS. 0 0 THE CREDIT UNION ORIGINATED $166.3 MILLION IN LOANS TO MEMBERS DURING 2023. LOANS ARE GENERALLY ORIGINATED AT OR BELOW MARKET INTEREST RATES HIGHLIGHTING MEMBER LOYALTY. THE CREDIT UNION OFFERS CONVENIENT DELIVERY CHANNELS FOR MEMBERS WHERE WE FULLY ABSORB THE COST OF THE ABILITY TO USE 30,000 ATMS, ACCESS TO THE SHARED BRANCHING NETWORK WITH OVER 5,600 OUTLETS NATIONWIDE, FREE ACCESS TO ONLINE BANKING AND BILL PAYMENT FOR ALL CONSUMERS. THE CREDIT UNION BEGAN A WEBSITE AND SYSTEM OVERHAUL IN 2023 WHICH WAS COMPLETED IN 2024. THE WEBSITE AND SYSTEM OVERHAUL CONTINUES TO IMPROVE THE MEMBER EXPERIENCE BY MAKING IT EASIER FOR MEMBERS TO ACCESS LENDING AND SAVINGS PRODUCTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 19929 0 1 209 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X KEVIN MANKOWSKI CPA 5864982853 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 JAMES BANASZAK BOARD CHAIRMAN 1.00 X 0 0 0 MARK TUTTLE BOARD VICE CHAIRPERSON 1.00 X 0 0 0 PAUL AVERY BOARD SECRETARY 1.00 X 0 0 0 FRED ANDARY BOARD TREASURER 1.00 X 0 0 0 JEFF MALACKO BOARD DIRECTOR 1.00 X 0 0 0 JOHN AMRHEIN BOARD DIRECTOR 1.00 X 0 0 0 KIM REGENER BOARD DIRECTOR 1.00 X 0 0 0 LEE CASTIGLIONI BOARD DIRECTOR 1.00 X 0 0 0 MICHAEL DOMZALSKI BOARD DIRECTOR 1.00 X 0 0 0 TAMIKA ANDERSON BOARD DIRECTOR 1.00 X 0 0 0 TONY SHEREDA BOARD DIRECTOR 1.00 X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 40.00 X 521935 0 27381 VALLORIE MCBRIDE CFO (1/1/23-2/27/23) 40.00 X 48831 0 3601 KEVIN MANKOWSKI DIRECTOR OF ACCOUNTING & FINANCE 40.00 X 101862 0 40670 STEVEN ANDREWS CHIEF ADMINISTRATION OFFICER 40.00 X 167003 0 16583 LAUREN FOGARTY CHIEF DIGITAL STRATEGIES OFFICER 40.00 X 148988 0 19389 JAMES SPESHOCK CHIEF OPERATIONS OFFICER 40.00 X 147204 0 18869 REBEKAH MONROE CHIEF MARKETING AND GROWTH OFFICER 40.00 X 128732 0 42984 DAVID MAURER CHIEF TECHNOLOGY OFFICER 40.00 X 155656 0 4814 1420211 0 174291 16 0 1 0 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 97130 FINANCIAL SERVICES 953527 FISERV INC PO BOX 934057 ATLANTA GA 31193 CORE DATA PROCESSOR/IT SERVICES 904664 DIGITAL FIRST HOLDINGS LLC 864 SPRING STREET NW ATLANTA GA 31193 DIGITAL BANKING 829764 THINK STACK 1300 THAMES STREET SUITE 20 BALTIMORE MD 21231 NETWORK SECURITY 629554 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT CARD PROCESSOR 563393 24 INCOME FROM MEMBER LOANS 522100 25825474 25825474 FEES, CHARGES, & OTHER 522100 12516081 12516081 FINANCE AND INSURANCE 520000 1276698 1276698 39618253 4226231 4226231 1288762 131332 1403980 125073 -115218 6259 -108959 -108959 EQUITY IN EARNINGS/LOSS OF CUSO 522100 -219097 -219097 -219097 43516428 38013499 1276698 4226231 X 265002 744280 11004679 733869 1351686 854688 194148 156000 270889 629934 518226 1385862 2711382 1066782 100485 232921 6876471 80599 944877 196976 DEBIT/CREDIT CARD EXPEN 2730491 LOAN SERVICING 1392300 MAINTENANCE 859065 PROVISION FOR LOAN LOSS 575000 1057793 36934405 5548281 5285241 37086976 42889605 6520421 4690827 515821645 585051645 1296190 1635008 34865738 7519392 28007288 27346346 198215015 151136882 4146829 5074182 1581776 1269242 21735548 23514662 819959969 847893640 3358576 4434431 5000000 40000000 734314549 719830490 742673125 764264921 X 0 0 0 0 77286844 83628719 77286844 83628719 819959969 847893640 X 6582023 1759856 -2000008 X X 0 1 X 1 0 9007935 9007935 18852016 3261193 15590823 7005787 4258199 2747588 27346346 MEMBER SHARES 719542615 POSTRETIREMENT BENEFIT LIABILITY 287875 719830490 X 43516428 0 43516428 0 43516428 36934405 0 36934405 0 36934405 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 SACRED HEART MAJOR SEMINARY 2701 CHICAGO BLVD DETROIT MI 48206 381358214 501(C)(3) 32500 0 CHARITABLE CONTRIBUTION HABITAT FOR HUMANITY DETROIT 14325 JANE AVE DETROIT MI 48205 382708025 501(C)(3) 5200 0 CHARITABLE CONTRIBUTION CHRISTIAN FINANCIAL OUTREACH AND IMPACT FOUNDATION INC 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 882812086 501(C)(3) 189000 0 CHARITABLE CONTRIBUTION 3 0 PART I, LINE 2: DONATIONS TO ORGANIZATIONS ARE CONSIDERED CHARITABLE CONTRIBUTIONS, NOT GRANTS. THEREFORE, THERE IS NO MONITORING BY CHRISTIAN FINANCIAL CREDIT UNION SUBSEQUENT TO DISBURSEMENT. X 1 1 X X X X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 431224 0 90711 0 0 0 12550 0 14831 0 549316 0 0 0 STEVEN ANDREWS CHIEF ADMINISTRATION OFFICER 156903 0 10100 0 0 0 4900 0 11683 0 183586 0 0 0 REBEKAH MONROE CHIEF MARKETING AND GROWTH OFFICER 119632 0 9100 0 0 0 3826 0 39158 0 171716 0 0 0 LAUREN FOGARTY CHIEF DIGITAL STRATEGIES OFFICER 138388 0 10600 0 0 0 3510 0 15879 0 168377 0 0 0 JAMES SPESHOCK CHIEF OPERATIONS OFFICER 136704 0 10500 0 0 0 4140 0 14729 0 166073 0 0 0 DAVID MAURER CHIEF TECHNOLOGY OFFICER 147106 0 8550 0 0 0 4298 0 516 0 160470 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR AND AS REQUIRED BY THE MICHIGAN CREDIT UNION ACT AND THE BY-LAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED AT A REGULAR BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EMPLOYEES, MANAGEMENT AND BOARD MEMBERS ARE PROVIDED WITH COPIES OF THE POLICIES AND MUST SIGN FOR ACKNOWLEDGMENT. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT/CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS; COMPENSATION SURVEY DATA IS USED. SENIOR MANAGEMENT COMPENSATION IS APPROVED BY PRESIDENT/CEO; COMPENSATION SURVEY DATA IS USED. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED IN ALL CREDIT UNION BRANCH LOCATIONS. FORM 990, PART IX, LINE 24E MISCELLANEOUS 564,636. ATM EXPENSES 409,965. EDUCATION 83,192. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -2,000,004. PRIOR PERIOD ADJUSTMENT -4. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CHRISTIAN FINANCIAL OUTREACH AND IMPACT FOUNDATION INC 35100 VAN DYKE AVE STERLING HEIGHTS MI 48312 882812086 RECEIVE AND ADMINISTER FUNDS AND AWARDS TO CHARITABLE ORGANIZATIONS MI 501(C)(3) PF CHRISTIAN FINANCIAL CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CHRISTIAN FINANCIAL OUTREACH AND IMPACT FOUNDATION INC B 189000 ACTUAL