2024-10-25T14:58:41-05:00 2023-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 381524325 TLC COMMUNITY CREDIT UNION TLCC 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 JEFF BREHMER CEO 5174239120 2024-10-22 1 0 JACK C TRACY P01974742 2482443000 2024-10-21 2023 2024-10-15 13:58:12Z JEFF BREHMER 3030 S ADRIAN HWY ADRIAN MI 49221 34874315 0 X WWW.TLCCU.ORG X CREDIT UNION 1956 MI PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 7 151 11 74361 30478 0 0 21767103 25241975 5847334 9188816 3814 8099 27618251 34438890 131203 184869 0 0 9226458 9717832 0 0 0 10213319 14757496 19570980 24660197 8047271 9778693 686921237 715763418 624812253 641150356 62108984 74613062 TO PROMOTE THE PHILOSOPHY OF PEOPLE HELPING PEOPLE. STRIVING TO BE THE PRIMARY PROVIDER OF FINANCIAL SERVICES TO OUR MEMBERS AND THEIR FAMILIES BY PROVIDING THE OPPORTUNITY TO ACHIEVE FINANCIAL SECURITY AND WELL-BEING. 0 0 PROVIDE 55,192 MEMBERS WITH SAVINGS, SHARE DRAFTS, CLUB, MONEY MARKET, BUSINESS, INDIVIDUAL RETIREMENT, AND CERTIFICATES OF DEPOSIT ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $635,824,000 AS OF DECEMBER 31, 2023. PROVIDE 15,530 NEW AND USED AUTO, UNSECURED, OVERDRAFT, COMMERCIAL, REAL ESTATE, HOME EQUITY, STUDENT AND CREDIT CARD LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $354,662,000 AS OF DECEMBER 31, 2023. OFFER ATM, ON-LINE BANKING, AUDIO RESPONSE, ACH, SAFE DEPOSIT BOXES, OVERDRAFT PROTECTION, CHECK CASHING, TRAVEL CARDS, MOBILE BANKING, MOBILE DEPOSIT CAPTURE AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20404 0 1 151 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X TLC COMMUNITY CREDIT UNION 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 MARK SPOHR CHAIRPERSON 2.00 X 0 0 0 CHRIS LANE DIRECTOR 1.00 X 0 0 0 TROY BEVIER DIRECTOR 1.00 X 0 0 0 RICHARD EGLI VICE CHAIRPERSON 1.00 X 0 0 0 JOE MURPHY TREASURER 1.00 X 0 0 0 MARK BRUGGEMAN DIRECTOR 1.00 X 0 0 0 MEREDITH FRANCIS SECRETARY 1.00 X 0 0 0 JEFF BREHMER EVP-CFO/CEO 40.00 X 308649 0 102597 RANDALL SMITH CEO 40.00 X 181419 0 41786 JENNIFER FROST SR VP FINANCE 40.00 X 104930 0 8965 MICHAEL ZARNECKI SVP OPERATIONS 40.00 X 138015 0 35705 PAUL CORAZZOL SVP INFORMATION SERVICES 40.00 X 156088 0 41005 LORIE EASTON SVP CONSUMER LENDING 40.00 X 147148 0 18144 ALYCIA NICHOLS EVP-OPERATIONS & LENDING 40.00 X 172716 0 46741 LINDA TOMFORD VP HUMAN RESOURCES 40.00 X 106292 0 13088 1315257 0 308031 9 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SERVICES 1414848 KRIEGHOFF LENAWEE COMPANY 1610 EAST MAUMEE ST ADRIAN MI 49221 CONSTRUCTION SERVICES 1038776 THE COLLABORATIVE INC ONE SEAGATE PLACE 118 TOLEDO OH 43604 ARCHITECTURAL DESIGN SERVICES 257238 BUSINESS DATA INC PO BOX 91218 LOS ANGELES CA 90009 MARKETING & MAILING SERVICES 256646 INSIGHT PO BOX 731069 DALLAS TX 75373 COMPUTER SOFTWARE AND PERIPHERALS 152256 11 LOAN INTEREST INCOME 522100 15796678 15796678 FEE AND OTHER INCOME 522100 9370936 9370936 FINANCE AND INSURANCE 520000 74361 74361 25241975 9079107 9079107 81600 73501 8099 8099 8099 471633 361924 109709 109709 109709 34438890 34364529 74361 0 X 167337 17532 748346 6587108 830637 989383 562358 20457 165872 1828123 330479 1570779 441248 720404 209337 5334682 565418 77810 990T EXPENSE 4334 LOAN SERVICING 2789690 PROVISION FOR LOAN LOSS 346158 MISCELLANEOUS EXPENSE 252817 99888 24660197 8786566 5600518 942993 2739561 967874 200702 342127128 353592651 361296 421678 16617454 8001595 9110365 8615859 294253997 284448187 3502117 31420422 26868901 28723840 686921237 715763418 3048898 5325926 621763355 635824430 624812253 641150356 X 0 0 0 0 62108984 74613062 62108984 74613062 686921237 715763418 X 9778693 3149237 -423852 X X 0 1 X 1 0 2540185 2540185 8586047 3803616 4782431 21804 21804 0 5469418 4176175 1293243 8615859 COLLATERALIZED MORTGAGE OBLIGATIONS (AFS) 175832061 F FHLB STOCK 1201800 C PRIVATE LABEL COLLATERALIZED MORTGAGE OBLIGATIONS (AFS) 17885960 F MORTGAGE-BACKED SECURITIES (AFS) 50588206 F U.S. TREASURY SECURITIES (AFS) 24526184 F MUNICIPAL BONDS (AFS) 14413976 F 284448187 MEMBER SHARES 635824430 635824430 X 34512391 0 34512391 -73501 -73501 34438890 24733698 73501 73501 24660197 0 24660197 PART X, LINE 2: TLC COMMUNITY CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 2023. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE ON FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS -73,501. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE ON FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS 73,501. 1 LENAWEE COUNTY HUMANE SOCIETY 705 WEST BEECHER STREET ADRIAN MI 49221 381574080 501(C)(3) 10000 0 CHARITABLE CONTRIBUTION TECUMSEH FIREFIGHTERS FOUNDATION 101 EAST RUSSELL ROAD TECUMSEH MI 49286 383593074 501(C)(3) 10000 0 CHARITABLE CONTRIBUTION CITY OF TECUMSEH 309 EAST BROWN STREET TECUMSEH MI 49286 386007206 MUNICIPALITY 15000 0 CHARITABLE CONTRIBUTION TECUMSEH PUBLIC SCHOOLS 760 BROWN STREET TECUSMEH MI 49286 386002382 501(C)(3) 20000 0 CHARITABLE CONTRIBUTION 3 1 SCHOLARSHIPS 5 5000 PART I, LINE 2: THE CREDIT UNION CHOOSES DONATION RECIPIENTS BASED ON CERTAIN CRITERIA AND RETAINS DOCUMENTS SUPPORTING THE CREDIT UNION'S DECISIONS. X 1 1 X X X X 0 1 0 JEFF BREHMER EVP-CFO/CEO 308133 0 0 0 516 0 38400 0 64197 0 411246 0 0 0 RANDALL SMITH CEO 95847 0 0 0 85572 0 14104 0 27682 0 223205 0 0 0 ALYCIA NICHOLS EVP-OPERATIONS & LENDING 172596 0 0 0 120 0 22800 0 23941 0 219457 0 0 0 PAUL CORAZZOL SVP INFORMATION SERVICES 155572 0 0 0 516 0 19968 0 21037 0 197093 0 0 0 MICHAEL ZARNECKI SVP OPERATIONS 138015 0 0 0 0 0 17280 0 18425 0 173720 0 0 0 LORIE EASTON SVP CONSUMER LENDING 144124 0 0 0 3024 0 17482 0 662 0 165292 0 0 0 PART I, LINE 4B RANDALL SMITH'S W-2 COMPENSATION REPORTED IN COLUMN B(III) OF SCH J INCLUDES A 457(B) BENEFIT DISTRIBUTION. THE EXECUTIVE'S ANNUAL 457(B) DEFERRALS WERE REPORTED AS A COMPONENT OF BOX 5 COMPENSATION WITHIN PRIOR YEARS' FORMS W-2. SINCE BOX 5 HAS HISTORICALLY EXCEEDED THE DOLLAR AMOUNT REPORTED IN BOX 1, THE COMPENSATION RELATIVE TO THE 457(B) DISTRIBUTION $85,343 INCLUDED IN 2023 COMPENSATION, HAS ALREADY BEEN REPORTED AS W-2 COMPENSATION IN PRIOR YEARS' FORMS 990. IN 2023, THE COMPENSATION AMOUNT REPORTED IN FORM 990 REPRESENTS THE AMOUNT REPORTED IN BOX 1 OF FORM W-2. THAT IS, BOX 1 COMPENSATION EXCEEDED THE AMOUNT REPORTED IN BOX 5 FOR THE FIRST TIME, AS A RESULT OF THE DISTRIBUTION OF RANDALL SMITH'S 457(B) BENEFIT. THE CREDIT UNION MAINTAINS A CREDIT UNION OWNED LIFE INSURANCE PLAN FOR THE BELOW-LISTED EMPLOYEES. AS THE OWNER OF THE POLICIES, THE CREDIT UNION IS THE BENEFICIARY OF THE CORRESPONDING DEATH BENEFITS. THE CASH SURRENDER VALUE OF EACH POLICY IS ALSO PROVIDED. RANDALL SMITH - $1,416,459 JEFF BREHMER - $4,188,576 ALYCIA NICHOLS - $4,183,812 PAUL CORAZZOL - $4,188,200 MICHAEL ZARNECKI - $4,184,189 THE CREDIT UNION ALSO CONTRIBUTES TO A POST RETIREMENT BENEFIT PLAN FOR RANDALL SMITH AND JEFF BREHMER. THE BENEFIT LIABILITY AS OF DECEMBER 31, 2023, WAS $229,761 AND $42,160, RESPECTIVELY. 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 BOARD MEMBERS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING OF THE MEMBERSHIP FOR 3 YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP OF THE CREDIT UNION MUST APPROVE MERGERS, FIELD OF MEMBERSHIP CHANGES, BY-LAW CHANGES, AND CHARTER CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND SCHEDULES ARE CAREFULLY REVIEWED BY THE SENIOR VICE PRESIDENT OF FINANCE. THE CEO ALSO REVIEWS IN SUMMARY. THE FORM 990 AND SCHEDULES ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED BY A SYSTEM OF DUAL CONTROLS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES CEO COMPENSATION THROUGH THE USE OF MULTIPLE SALARY SURVEYS AND THIRD PARTY APPRAISAL AND COMPENSATION SYSTEM. THE CEO USES THE SAME RESOURCES FOR DETERMINING VP COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF THE CREDIT UNION. OTHER DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 186,281. INTERNET BANKING 551,301. NETWORK ADMINISTRATION 1,090,541. FORM 990, PART IX, LINE 24E OPERATING FEES 99,888. FORM 990, PART XI, LINE 9: CHANGE IN ACTUARIAL VALUE OF POST-RETIREMENT BENEFITS 4,466. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -428,318. 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.