2024-11-07T11:35:56-06:00 2023-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2023-01-01 381440283 DORT FINANCIAL CREDIT UNION DORT 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 BRIAN WALDRON PRESIDENT/CEO 8107678390 2024-11-06 1 0 DAVID LOWENTHAL P00378651 2483757100 2024-11-06 2023 2024-10-15 13:58:12Z FLAGLER CREDIT UNION BRIAN WALDRON 9048 HOLLY ROAD GRAND BLANC MI 48439 108971691 0 X WWW.DORTONLINE.ORG X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 425 7 116264 0 0 0 77434574 100498708 4714349 7119556 0 0 82148923 107618264 75355 179814 0 0 20607762 25002167 0 0 0 41623807 71104002 62306924 96285983 19841999 11332281 1504357827 2342921086 1309505757 2135077451 194852070 207843635 OPENING DOORS TO OUR MEMBERS BY PROVIDING QUALITY FINANCIAL SERVICES. 0 0 PROVIDE 113,143 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING $1,816,295,289. PROVIDE 94,862 LOANS INCLUDING VEHICLE, CREDIT CARD, HOME EQUITY, BUSINESS, PERSONAL, BOAT, MOTORCYCLE, MOTOR HOME, AND MORTGAGES. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 29935 0 1 425 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X JEREMY ZAGER CFO 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 WAYNE NATZKE CHAIRMAN OF THE BOARD 5.00 0.00 X X 0 0 0 DANA STODDARD FIRST VICE CHAIR 5.00 0.00 X X 0 0 0 DOUGLAS KIDD SECOND VICE CHAIR 5.00 0.00 X X 0 0 0 JEFF SELLS SECRETARY 5.00 0.00 X X 0 0 0 BRUCE ALLAN TREASURER 5.00 0.00 X X 0 0 0 DIANE PIERCY DIRECTOR 5.00 0.00 X 0 0 0 BEVERLY KITTLE DIRECTOR 5.00 0.00 X 0 0 0 BRIAN WALDRON PRESIDENT/CEO 50.00 0.00 X 775957 0 51396 JEREMY ZAGER CFO 50.00 0.00 X 299553 0 47989 DEANA TURCOTT CHIEF HUMAN RESOURCES OFFICER 50.00 0.00 X 216914 0 39317 DANIEL GATFIELD CHIEF RETAIL OFFICER 50.00 0.00 X 223454 0 30540 MICHAEL ANDERSON CHIEF INFORMATION SYSTEMS OFFICER 50.00 0.00 X 253511 0 40751 SHARON LOBO CHIEF LENDING OFFICER 50.00 0.00 X 275651 0 32553 ADAM KOISHOR CHIEF STRATEGY OFFICER 50.00 0.00 X 205939 0 13179 JESSE MONTICELLO REAL ESTATE LENDING MANAGER 37.50 0.00 X 169023 0 13722 DREW GOODRICH INVESTMENT ADVISOR 37.50 0.00 X 146320 0 32078 AARON GREEN REGIONAL BRANCH OPS MANAGER 37.50 0.00 X 150914 0 24128 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 37.50 0.00 X 170473 0 34048 RICH REYES REGIONAL BRANCH OPS MANAGER 37.50 0.00 X 150618 0 17597 3038327 0 377298 33 0 1 0 VISA USA PO BOX 742233 LOS ANGELES CA 90074 DATA PROCESSING 3640852 NCR 864 SPRING STREET ATLANTA GA 30308 TECHNOLOGY 2031906 CASTLES BROTHERS 1471 W BRISTOL ROAD FLINT MI 48507 CONSTRUCTION 1166113 INFORMA BUSINESS SYSTEMS 5170 HARTSHORN DRIVE FLUSHING MI 48433 TECHNOLOGY 1061320 BUTLER ROUSE-OBERLE PLLC 24545 HARPER AVE ST CLAIR SHORES MI 48080 LEGAL 769678 59 MEMBER LOAN INCOME 522100 76046997 76046997 FEE/OTHER INCOME 524298 24451711 24335447 116264 100498708 6892887 6892887 214786 1365310 210580 1142847 4206 222463 226669 226669 107618264 107275331 116264 226669 149814 30000 2506702 17315710 1135834 2531067 1512854 -213573 328946 1303525 3241316 3915502 4167339 2177781 768281 26913673 3014536 490709 INCOME TAX EXPENSE -2462 PROVISION FOR LOAN LOSS 10680068 LOAN SERVICING 6041246 CARD PROCESSING 5730419 2546696 96285983 37126453 235316000 1316618 13588448 10218746 1167541602 1690938506 11969359 7822537 61073912 24905391 29145612 36168521 112080208 116082618 128135935 129871338 72328968 17042040 30585404 1504357827 2342921086 18860423 25052916 2023416 1896246 38266980 120000000 1250354938 1988128289 1309505757 2135077451 X 0 0 0 0 194852070 207843635 194852070 207843635 1504357827 2342921086 X 11332281 3308969 -1649685 X X 0 1 X 1 0 0 1 X 10348375 10348375 28398705 6965764 21432941 324290 324290 0 21671351 17615337 4056014 331191 331191 36168521 MORTGAGE BACKED SECURITIES 40210277 F COLLATERALIZED MORTGAGE OBLIGATIONS 55002788 F SMALL BUSINESS ADMINISTRATION SECURITIES 1834800 F REDEEMABLE CORPORATE PREFERRED STOCK 14531458 F CORPORATE BONDS 11767015 F FEDERAL HOME LOAN BANK STOCK 6525000 F 129871338 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1816295289 NONMEMBER CERTIFICATES OF DEPOSIT 171833000 1988128289 107641119 22855 22855 107618264 0 107618264 96308838 0 96308838 -22855 -22855 96285983 PART IV, LINE 2B: CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON REPOSESSION OF ASSETS 22,304. LOSS ON DISPOSITION OF ASSETS 551. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON REPOSESSION OF ASSETS -22,304. LOSS ON DISPOSITION OF ASSETS -551. 1 YMCA OF GREATER FLINT 411 E 3RD ST FLINT MI 48503 381358056 501(C)(3) 43750 0 COMMUNITY PARTNERHSHIP SLOAN MUSEUM 1221 E KERSLEY ST FLINT MI 48503 822978635 501(C)(3) 32000 0 COMMUNITY PARTNERHSHIP BACK TO THE BRICKS PO BOX 500 FLINT MI 48501 453015809 501(C)(3) 26270 0 COMMUNITY PARTNERHSHIP HURLEY FOUNDATION 1 HURLEY PLAZA FLINT MI 48503 383085047 501(C)(3) 22280 0 COMMUNITY PARTNERHSHIP WHALEY CHILDREN'S CENTER 1201 N GRAND TRAVERSE FLINT MI 48503 381358235 501(C)(3) 22250 0 COMMUNITY PARTNERHSHIP WESTWOOD HEIGHTS SCHOOL DISTRICT 3425 W PIERSON RD FLINT MI 48504 386003120 GOV 7500 0 COMMUNITY PARTNERHSHIP MOTHERLY INTERCESSION PO BOX 311109 FLINT MI 48531 383571422 501(C)(3) 7500 0 COMMUNITY PARTNERHSHIP FLINT INSTITUTE OF ARTS 1120 E KEARSLEY ST FLINT MI 48503 381539984 501(C)(3) 6800 0 COMMUNITY PARTNERHSHIP CATHOLIC CHARITIES 901 CHIPPEWA ST FLINT MI 48503 381359243 501(C)(3) 6500 0 COMMUNITY PARTNERHSHIP 9 0 SCHOLARSHIPS 15 30000 0 N/A N/A X 1 1 X X X X 0 1 0 BRIAN WALDRON PRESIDENT/CEO 519231 0 90000 0 166726 0 29796 0 21600 0 827353 0 0 0 JEREMY ZAGER CFO 274865 0 13175 0 11513 0 28338 0 19651 0 347542 0 0 0 SHARON LOBO CHIEF LENDING OFFICER 269703 0 7468 0 -1520 0 17146 0 15407 0 308204 0 0 0 MICHAEL ANDERSON CHIEF INFORMATION SYSTEMS OFFICER 231222 0 9500 0 12789 0 21722 0 19029 0 294262 0 0 0 DEANA TURCOTT CHIEF HUMAN RESOURCES OFFICER 200066 0 9725 0 7123 0 20627 0 18690 0 256231 0 0 0 DANIEL GATFIELD CHIEF RETAIL OFFICER 201705 0 9893 0 11856 0 10711 0 19829 0 253994 0 0 0 ADAM KOISHOR CHIEF STRATEGY OFFICER 193274 0 3684 0 8981 0 8828 0 4351 0 219118 0 0 0 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 154589 0 7618 0 8266 0 16708 0 17340 0 204521 0 0 0 JESSE MONTICELLO REAL ESTATE LENDING MANAGER 150938 0 5730 0 12355 0 11913 0 1809 0 182745 0 0 0 DREW GOODRICH INVESTMENT ADVISOR 49440 0 7751 0 89129 0 14374 0 17704 0 178398 0 0 0 AARON GREEN REGIONAL BRANCH OPS MANAGER 142125 0 5551 0 3238 0 14703 0 9425 0 175042 0 0 0 RICH REYES REGIONAL BRANCH OPS MANAGER 142125 0 5551 0 2942 0 15210 0 2387 0 168215 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS OF VOLUNTEERS AND SENIOR MANAGEMENT IS TREATED AS TAXABLE COMPENSATION. PART I, LINE 4B BRIAN WALDRON PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMNTAL RETIREMENT PLAN - HIS LOAN RELATED TO THIS PLAN IS SHOWN ON SCHEDULE L BRIAN WALDRON PRESIDENT/CEO EXECUTIVE BENEFIT LOAN X 10060262 10218746 0 1 1 10218746 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO REVIEW THE COMPLETED FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE COMPLETED ANNUALLY AND ANSWERS ARE REVIEWED BY HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A 3RD PARTY SOFTWARE (COMPEASE) TO SET SALARIES VIA PAY GRADES FOR ALL POSITIONS IN THE CREDIT UNION. INFORMATION IS PROVIDED INDEPENDENTLY BY A 3RD PARTY, IS UPDATED ANNUALLY IN THE 3RD OR 4TH QUARTER OF EVERY YEAR, AND IS IMPLEMENTED IN APRIL OF THE FOLLOWING YEAR. ALL PAY GRADES ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2023. FORM 990, PART VI, SECTION C, LINE 19 CREDIT UNION BYLAWS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF ALL CREDIT UNION BRANCH LOCATIONS WHICH ARE ACCESSIBLE TO THE GENERAL PUBLIC. THE QUARTERLY FINANCIAL PERFORMANCE REPORTS ARE ALSO AVAILABLE AT WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: POSTRETIREMENT BENEFIT PLAN -49,685. CECL FUNDING ADJUSTMENT -1,600,000. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.