2024-10-28T10:12:17-05:00 2023-12-31 383567911 REHMANN ROBSON LLC PO BOX 2025 SAGINAW MI 486052025 990 2023-01-01 381439120 FINANCIAL PLUS CREDIT UNION FINA 8102442200 PO BOX 7006 FLINT MI 48507 WADE DECKER CHIEF FINANCIAL OFFICER 8102442927 2024-10-24 1 1 JEFFREY E HERT CPA P00066715 9897999580 2024-10-21 2023 2024-10-15 13:58:12Z WADE DECKER G-3381 VAN SLYKE ROAD FLINT MI 48507 207087442 0 X WWW.MYFPCU.COM X 1952 MI ENHANCING THE FINANCIAL WELL-BEING OF OUR MEMBERS AND OUR COMMUNITIES. 11 11 328 18 143921 0 0 0 45254674 66599156 4711442 9619252 0 0 49966116 76218408 0 0 0 0 18363859 23325778 0 0 0 24209628 43423751 42573487 66749529 7392629 9468879 1232513294 1286739109 1101199184 1142750941 131314110 143988168 COMMITMENT TO ENHANCING THE FINANCIAL WELL-BEING OF OUR MEMBERS! PASSION FOR SERVICE! DEDICATION TO ENRICHING THE COMMUNITIES WE SERVE! 0 0 WE PROVIDE SAFE AND AFFORDABLE FINANCIAL PRODUCTS THAT ENABLED OUR 81,000+ MEMBERS TO MEET FINANCIAL GOALS SUCH AS PURCHASING A VEHICLE OR NEW HOME, SAVING FOR LIFE EVENTS SUCH AS COLLEGE AND WEDDINGS, OR JUST PAYING BILLS EFFICIENTLY AND CONVENIENTLY ONLINE OR WITH THEIR PHONES. 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 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 15679 0 1 328 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MI X WADE DECKER 8102442927 G-3381 VAN SLYKE ROAD FLINT MI 48507 MICHAEL BALLS VICE CHAIRMAN 1.00 X X 0 0 0 BARNEY HENNESSY CHAIRMAN 1.00 X X 0 0 0 WILLIAM TYNES DIRECTOR 1.00 X 0 0 0 KIM JONES SECRETARY 1.00 X X 0 0 0 KIRK RHEAUME DIRECTOR 1.00 X 0 0 0 DIANA WEBB TREASURER 1.00 X X 0 0 0 LARRY CAMPBELL DIRECTOR 1.00 X 0 0 0 LISA SHOEMAKER VP OF MORTGAGE LENDING 50.00 X 153313 0 31440 BERNARD WILLIAMS INTEGRATION ADVISOR 50.00 X 1151371 0 37341 RON JANSSON DIRECTOR 1.00 X 0 0 0 LISA WILSON DIRECTOR 1.00 X 0 0 0 GERALD LITTLE DIRECTOR 1.00 X 0 0 0 GUS ALEXANDER DIRECTOR 1.00 X 0 0 0 WADE DECKER CFO 50.00 X 287485 0 52192 BRADLEY BERGMOOSER PRESIDENT & CEO 50.00 X 646906 0 67308 DEANNA WALLACE SVP OF PEOPLE AND RETAIL DELIVERY 50.00 X 201252 0 38627 RACHELLE KIPPE SVP OF LENDING 50.00 X 202140 0 42089 TAMMY O'LEARY INTEGRATION ADVISOR 50.00 X 469168 0 2587 NATHAN ADAMS DIRECTOR OF BUSINESS SERVICES 50.00 X 174607 0 39428 DOUG FENLON DIRECTOR OF IT 50.00 X 151760 0 31892 3438002 0 342904 9 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CALL/CONTACT CENTER OUTSOURCING 5478164 MDT 7415 CHICAGO DR WARREN MI 48092 CORE SYSTEMS CHARGES 3021798 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 VISA CARD BIN NUMBER SYSTEM CHARGES 1097241 BACKSWING MARKETING 61 ANNETTO DR CROWN POINT IN 46307 MEDIA ADS 723632 PERSONIX 75 REMITTANCE DR SUITE 6959 CHICAGO IL 60675 CARD PROCESSING SERVICE AND SUPPLIES 507388 5 LOAN INTEREST 522100 49028407 49028407 FEES & OPERATING INCOME 522100 17570749 17426828 143921 66599156 8823234 8823234 131641773 23279 130850105 18929 791668 4350 796018 796018 76218408 76074487 143921 0 3383220 14540530 1539067 2543297 1319664 1875096 28271 235192 570548 2348234 5248884 3849793 652396 309959 2406 11687745 2881525 88423 PROVISION FOR LOAN LOSS 6439218 CREDIT CARD EXPENSES 2116102 LOAN SERVICING 1929584 REPAIRS AND MAINTENANCE 1679891 1480484 66749529 15773051 16965267 39663010 64846712 12653944 16262238 3436000 3474000 832688447 915285335 1841579 1866689 42966687 23310124 19526336 19656563 262060857 218687850 3155900 4050000 9138188 8184638 32575982 17459817 1232513294 1286739109 4990665 12954414 1594143 2000335 25000000 65000000 1069614376 1062796192 1101199184 1142750941 X 0 0 0 0 131314110 143988168 131314110 143988168 1232513294 1286739109 X 9468879 6786152 -3580973 X X 0 1 X 1 0 4368066 4368066 28613994 15006988 13607006 8853501 8303136 550365 1131126 1131126 19656563 ACCRUED PAYROLL LIABILITIES 2309046 MEMBERS' ACCOUNTS 1050181549 OTHER LIABILITIES -1027403 PRIMARY FINANCIAL SIMPLI CD 11333000 1062796192 X 76218408 0 76218408 0 76218408 66749529 0 66749529 0 66749529 PART X, LINE 2: THE CREDIT UNION HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR THE YEARS 2020 THROUGH 2023, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2023. THE CREDIT UNION CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE CREDIT UNION'S FINANCIAL STATEMENTS. THE CREDIT UNION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB") (E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE CREDIT UNION DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT DECEMBER 31, 2023 AND 2022, AND IT IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. X 1 1 X X X X X 0 0 0 BERNARD WILLIAMS INTEGRATION ADVISOR 369873 0 0 0 781498 0 22079 0 15262 0 1188712 0 0 0 BRADLEY BERGMOOSER PRESIDENT & CEO 487168 0 152910 0 6828 0 46137 0 21171 0 714214 0 0 0 TAMMY O'LEARY INTEGRATION ADVISOR 12330 0 0 0 456838 0 2548 0 39 0 471755 0 0 0 WADE DECKER CFO 262720 0 24765 0 0 0 31898 0 20294 0 339677 0 0 0 RACHELLE KIPPE SVP OF LENDING 184488 0 17652 0 0 0 23071 0 19018 0 244229 0 0 0 DEANNA WALLACE SVP OF PEOPLE AND RETAIL DELIVERY 184769 0 16483 0 0 0 22629 0 15998 0 239879 0 0 0 NATHAN ADAMS DIRECTOR OF BUSINESS SERVICES 128322 0 46285 0 0 0 20551 0 18877 0 214035 0 0 0 LISA SHOEMAKER VP OF MORTGAGE LENDING 133388 0 19925 0 0 0 14440 0 17000 0 184753 0 0 0 DOUG FENLON DIRECTOR OF IT 142349 0 9411 0 0 0 16491 0 15401 0 183652 0 0 0 BRADLEY BERGMOOSER CEO SPLIT DOLLAR LIFE INSURANCE X 1975000 2057000 0 1 1 BERNARD WILLIAMS INTEGRATION ADVISOR SPLIT DOLLAR LIFE INSURANCE X 1312000 1417000 0 1 1 3474000 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT AND VOTE ON BOARD MEMBERS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS ELECT AND VOTE ON BOARD MEMBERS AT THE ANNUAL MEETING. MERGER INTO ANOTHER INSTITUTION WOULD BE VOTED ON BY THE ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF FINANCIAL OFFICER WILL REVIEW THE 990 WITH THE BOARD PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE REQUIRED TO BE DISCLOSED BY MEMBERS. RELATED PARTIES ARE REVIEWED ON A QUARTERLY BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPARABLE INDUSTRY COMPENSATION DATA IS OBTAINED FROM A THIRD PARTY PROVIDER AND REVIEWED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. THE CONDENSED FINANCIAL STATEMENT IS POSTED AT EACH OF THE BRANCHES MONTHLY. FORM 990, PART XI, LINE 9: LIABILITY ADJ. ON POST-RETIREMENT HEALTH CARE 159,221. PRIOR YEAR MERGER COSTS -3,740,194. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.