2024-10-25T11:13:36-05:00 2023-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 386066199 TEAM ONE CREDIT UNION TEAM 9897546575 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 VICTORIA D BRYNOLF CFO 9897546575 2024-10-24 1 0 JACK C TRACY P01974742 2482443000 2024-10-24 2023 2024-10-15 13:58:12Z DERRICK BARBER 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 55727184 0 X WWW.TEAMONECU.ORG X CREDIT UNION 1935 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 234 12 318364 0 0 0 27339914 35460755 3208988 2729756 0 0 30548902 38190511 15000 19000 0 0 14327763 13999237 0 0 0 18139284 23329496 32482047 37347733 -1933145 842778 750657542 740519118 694365483 678444171 56292059 62074947 ONE TEAM, ONE GOAL - PUTTING OUR MEMBERS FIRST. 0 0 PROVIDE 51,884 MEMBERS WITH REGULAR SAVINGS, SHARE DRAFTS, CERTIFICATES OF DEPOSITS, IRA AND MONEY MARKET ACCOUNTS APPROXIMATING $671,030,000 AS OF DECEMBER 31, 2023. PROVIDE 32,253 LOANS INCLUDING VEHICLE, OVERDRAFT PROTECTION, MORTGAGE, HOME EQUITY, SIGNATURE, CREDIT CARD, STUDENT, AND RECREATIONAL VEHICLE. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, WIRE TRANSFERS, MONEY ORDERS, BILL PAYMENT, OVERDRAFT PROTECTION/COURTESY PAY AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 12522 0 1 234 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X TEAM ONE CREDIT UNION 9897546575 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 REBECCA SANCHEZ CHAIRPERSON 1.00 X 0 0 0 TIMOTHY FRITZ VICE CHAIRPERSON 1.00 X 0 0 0 PETER TYSON SECRETARY 1.00 X 0 0 0 CARL HAWKINS TREASURER 1.00 X 0 0 0 PATRICK O'TOOLE DIRECTOR 1.00 X 0 0 0 JAN TOLLEY DIRECTOR 1.00 X 0 0 0 JAN ELBING DIRECTOR 1.00 X 0 0 0 THERON WIGGIS DIRECTOR 1.00 X 0 0 0 JIM FINKBEINER DIRECTOR 1.00 X 0 0 0 RICHARD POWELL DIRECTOR 1.00 X 0 0 0 DERRICK BARBER PRESIDENT 40.00 X 381266 0 24257 ANNE ARRAND EXECUTIVE VP 40.00 X 232078 0 22714 REBECCA GERZSENY CFO 40.00 X 149713 0 25616 DANA TELL CHIEF STRATEGY OFFICER 40.00 X 179835 0 38820 TIMOTHY FERRIO CHIEF TECHNOLOGY OFFICER 40.00 X 150043 0 49579 NANCY DAVIS VP OF LENDING 40.00 X 144429 0 43103 JOHN HYATT COMMERCIAL LENDING OFFICER 40.00 X 290459 0 7078 TAYLOR MURRAY CEO OF SERVISTAR 1.00 40.00 X 0 272900 19605 MICHAEL NEILL CLO OF SERVISTAR 1.00 40.00 X 0 207815 2928 SCOTT ALBRECHT VP OF LEARNING & DEVELOPMENT 40.00 X 128277 0 10045 1656100 480715 243745 12 0 1 0 MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 DATA PROCESSING 1244463 JACK HENRY 663 W HIGHWAY 60 MONETT MO 65708 ATM/CREDIT CARD PROCESSOR AND SUPPORT, I 957719 NAUTILUS HYOSUNG 6641 N BELTLINE ROAD STE 100 IRVING TX 75062 ATM MACHINES, INSTALLMENTS, AND SUPPORT 813417 TUCKER BUILDERS 2634 LIPKA PINCONNING MI 48650 CONSTRUCTION AND RENOVATION OF SEVERAL B 771725 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742333 CONNECTS CUSTOMERS AND BUSINESS TO ENABL 665629 21 LOAN INTEREST INCOME 522100 25456167 25456167 FEE AND OTHER INCOME 522100 9686224 9686224 FINANCE AND INSURANCE 520000 318364 318364 35460755 3020106 3020106 17239798 6525 17536673 0 -296875 6525 -290350 -290350 38190511 37872147 318364 0 X 19000 1253921 9452757 37239 2441226 814094 66908 146691 1558745 662335 3776739 1531778 1244805 89570 476746 7157761 1816088 150892 LOAN SERVICING 2864732 PROVISION FOR LOAN LOSS 1209749 OTHER OPERATING EXPENSE 352276 EXAMINATION FEES 115449 108232 37347733 10825660 10800868 1845393 519991 2661989 10214851 476599703 501161495 1342470 1887068 36386777 16335718 20203767 20051059 212211255 169273120 15085571 16788691 295796 187565 9585938 9634410 750657542 740519118 16019951 7414485 678345532 671029686 694365483 678444171 X 0 0 0 0 56292059 62074947 56292059 62074947 750657542 740519118 X 842778 4977562 -37452 X X 0 1 X 1 0 3348303 3348303 20133361 7483033 12650328 12905113 8852685 4052428 20051059 MUTUAL FUNDS 9488569 F FEDERAL HOME LOAN BANK STOCK 1569700 C CUSO INVESTMENTS 13546566 C AFS INVESTMENTS 142518492 F NEGOTIABLE CERTIFICATES OF DEPOSIT (AFS) 2149793 F 169273120 MEMBER SHARES AND DEPOSITS 671029686 671029686 X 38190511 0 38190511 0 38190511 37347733 0 37347733 0 37347733 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. 1 SCHOLARSHIPS 18 18000 PART I, LINE 2: SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS AND ARE CHOSEN BY COMMITTEE BASED ON CERTAIN CRITERIA. DOCUMENTATION IS MAINTAINED ON THE RECIPIENTS. X X X X 0 1 0 DERRICK BARBER PRESIDENT 343828 0 0 0 37438 0 20899 0 3358 0 405523 0 0 0 JOHN HYATT COMMERCIAL LENDING OFFICER 95672 0 192708 0 2079 0 6650 0 428 0 297537 0 0 0 TAYLOR MURRAY CEO OF SERVISTAR 0 215233 0 50000 0 7667 0 15327 0 4278 0 292505 0 0 ANNE ARRAND EXECUTIVE VP 212485 0 0 0 19593 0 16141 0 6573 0 254792 0 0 0 DANA TELL CHIEF STRATEGY OFFICER 176153 0 0 0 3682 0 30932 0 7888 0 218655 0 0 0 MICHAEL NEILL CLO OF SERVISTAR 0 204919 0 0 0 2896 0 0 0 2928 0 210743 0 0 TIMOTHY FERRIO CHIEF TECHNOLOGY OFFICER 147176 0 0 0 2867 0 25565 0 24014 0 199622 0 0 0 NANCY DAVIS VP OF LENDING 140021 0 0 0 4408 0 24476 0 18627 0 187532 0 0 0 REBECCA GERZSENY CFO 146587 0 0 0 3126 0 25206 0 410 0 175329 0 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457F. THE BENEFITS ACCRUED DURING THE YEAR ENDED DECEMBER 31, 2023 WERE AS FOLLOWS: NANCY DAVIS: $14,469 TIMOTHY FERRIO: $15,000 DANA TELL: $18,500 REBECCA GERZSENY: $15,000 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 THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS AT THE ANNUAL MEETING. EACH BOARD MEMBER IS ELECTED FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS CONDUCTED BY THE PRESIDENT/CEO PRIOR TO SUBMISSION TO THE IRS. SUBSEQUENT TO FILING, THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE 990 RETURNS SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND THE BOARD OF DIRECTORS ARE REQUIRED TO REVIEW THE POLICY AND SIGN A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE WITH APPROVAL BY BOARD OR COMPENSATION COMMITTEE. THE BOARD OF DIRECTOR'S EXECUTIVE COMMITTEE COMMPLETES A PERFORMANCE APPRAISAL ANNUALLY. SALARY INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS AND ARE DETERMINED BASED ON PERFORMANCE AS WELL AS PEER GROUP. THE CEO PERFORMS ANNUAL EVALUATIONS OF KEY EMPLOYEES AND HAS BEEN GIVEN THE AUTHORITY TO PROVIDE SALARY INCREASES BASED ON PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 24E CORE DEPOSIT AMORTIZATION 108,232. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -37,452. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. FORM 990, PART IV, LINE 12B THE CREDIT UNION'S AUDITED CONSOLIDATED FINANCIAL STATEMENTS INCLUDED THE BALANCES AND ACTIVITIES OF THE 100% OWNED DISREGARDED ENTITY (TEAM ONE INSURANCE SERVICES) AND DID NOT INCLUDE THE PARTNERSHIP SUBSIDIARIES, NEIGHBORHOOD INCOME SOLUTIONS, SERVISTAR, LLC, CU COMPLIANCE CUSO, LLC AND TEAM FACILITIES, INC. OF WHICH TEAM ONE CREDIT UNION OWNS 33.33% IN EACH. THEREFORE, SCHEDULE D, PARTS XI AND XII HAVE BEEN PREPARED. TEAM ONE INSURANCE SERVICES PO BOX 1260 SAGINAW MI 48606 811492966 FINANCIAL INVESTMENTS AND INSURANCE SALES MI 12931 116551 TEAM ONE CREDIT UNION NEIGHBORHOOD INCOME SOLUTIONS 1100 S BAGLEY ST ALPENA MI 49707 464364566 HOLDING COMPANY MI RELATED 195825 14561012 0 0 0.33330 SERVISTAR LLC 101 N PARK ST TRAVERSE CITY MI 49684 852732958 TRAIN CREDIT UNIONS TO MAXIMIZE PERFOMANCE THROUGH TRAINING AND ENGAGEMENT. MI RELATED -167949 469355 0 0 0.33330 CU COMPLIANCE CUSO LLC 7415 CHICAGO RD STE 103 WARREN MI 48092 843977803 PROVIDING COMPLIANCE SERVICES MI RELATED -145499 84265 0 0 0.33330 TEAM FACILLITIES INC 1146 E BIG BEAVER RD TROY MI 48063 932575714 PROVIDE FACILITIES MANAGEMENT MI RELATED -12948 -794 0 0 0.33330 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 SERVISTAR LLC Q 1175252 ACTUAL EXPENSE (PAYROLL) CU COMPLIANCE CUSO LLC Q 483000 ACTUAL EXPENSE (PAYROLL) TEAM FACILITIES INC P 125393 ACTUAL EXPENSE (MAINTENANCE)