CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1447620)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-11
- IRS object ID
- 202443169349303844
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-11T13:05:50+00:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 350921680 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9600 Brownsboro Road Suite 400 | AddressLine1Txt |
| City | Louisville | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 402413902 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381447620 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Community Financial Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COMM | BusinessNameControlTxt |
| Phone | 7344531200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 S HARVEY ST | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481708050 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Scott Cameron | PersonNm |
| Person Title | EVP/CFO | PersonTitleTxt |
| Signature | 2024-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Kim Scifres | PreparerPersonNm |
| PTIN | P01316095 | PTIN |
| Phone | 5023263996 | PhoneNum |
| Preparation | 2024-11-11 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Tansley Stearns | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 S HARVEY ST | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481708050 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $99,983,788 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CFCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2012 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | Community Financial Credit Union is a state chartered, not-for-profit, full-service financial institution owned and governed by its membership. At Community Financial, we are committed to our members and our communities. For over 70 years, we've provided our Michigan members competitively-priced savings & loans products, outstanding service and support to their neighborhoods. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 431 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $56,715 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $56,715 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $65,611,595 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $93,855,386 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,313,989 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,626,020 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,373,455 | PYOtherRevenueAmt |
| CY Other Revenue | $1,502,382 | CYOtherRevenueAmt |
| PY Total Revenue | $68,299,039 | PYTotalRevenueAmt |
| CY Total Revenue | $99,983,788 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $812,590 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $973,333 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $32,207,843 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $37,327,847 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,524,125 | PYOtherExpensesAmt |
| CY Other Expenses | $57,712,429 | CYOtherExpensesAmt |
| PY Total Expenses | $58,544,558 | PYTotalExpensesAmt |
| CY Total Expenses | $96,013,609 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,754,481 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,970,179 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,531,731,546 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,594,945,276 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,382,194,058 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,445,878,056 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $149,537,488 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $149,067,220 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Community Financial Credit Union is a state chartered, not-for-profit, full-service financial institution owned and governed by its membership. At Community Financial, we are committed to our members and our communities. For over 70 years, we've provided our Michigan members competitively-priced savings & loans products, outstanding service and support to their neighborhoods. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | PROMOTE THRIFT TO 83,566 MEMBERS BY OFFERING COMPETITIVELY-PRICED SAVINGS & LOANS PRODUCTS AS WELL AS OTHER FINANCIAL PRODUCTS. | Desc |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 31547 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 431 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCOTT CAMERON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7345828876 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8050 | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481708050 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| DENNIS LAVOY | ||||||||
| SECRETARY/TREASURER | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARK RIEGAL | ||||||||
| 1st VICE CHAIRPERSON | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PAUL BEDICH | ||||||||
| 2ND VICE CHAIRPERSON | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| TERESA KUEHN | ||||||||
| BOARD CHAIR | 1.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| DAN HERRIMAN | ||||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| DEBORAH STARINSKY | ||||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| DON BAIN | ||||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Kathy Neirynk | ||||||||
| Board Member (partial year) | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| PATRICIA REESE | ||||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| Ron Meteyer | ||||||||
| Board Member (partial year) | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| YASIR KHOGALI | ||||||||
| BOARD MEMBER | 1.0 | Yes (X) | $0 | $0 | $0 | |||
| ART BEARD | ||||||||
| CHIEF INFORMATION AND DIGITAL OFFICER | 40.0 | Yes (X) | $410,381 | $0 | $74,645 | |||
| CATHY MEYERS | ||||||||
| CHIEF PEOPLE OFFICER | 40.0 | Yes (X) | $372,470 | $0 | $76,810 | |||
| CHRIS CURRY | ||||||||
| SVP OF OPERATIONS AND RISK | 40.0 | Yes (X) | $358,191 | $0 | $91,885 | |||
| DANIELLE FRAWLEY | ||||||||
| CHIEF GROWTH OFFICER | 40.0 | Yes (X) | $206,265 | $0 | $14,127 | |||
| DANIELLE MILNER | ||||||||
| CHIEF EXPERIENCE OFFICER | 40.0 | Yes (X) | $304,084 | $0 | $20,029 | |||
| ELRY ARMAZA | ||||||||
| CHIEF OF STAFF | 40.0 | Yes (X) | $306,142 | $0 | $3,750 | |||
| JILL JOHNSON | ||||||||
| CHIEF REVENUE AND LENDING OFFICER | 40.0 | Yes (X) | $390,136 | $0 | $87,173 | |||
| SCOTT CAMERON | ||||||||
| EVP/CFO | 40.0 | Yes (X) | $376,943 | $0 | $86,731 | |||
| TANSLEY STEARNS | ||||||||
| CEO | 40.0 | Yes (X) | $570,686 | $0 | $28,230 | |||
| DAVID HEFFNER | ||||||||
| SVP Lending | 40.0 | $220,808 | $0 | $19,359 | Yes (X) | |||
| JAMES POTTER | ||||||||
| INVESTMENT REPRESENTATIVE | 40.0 | $228,506 | $0 | $10,362 | Yes (X) | |||
| MICHAEL ERFOURTH | ||||||||
| VP BUSINESS EXPERIENCE | 40.0 | $221,337 | $0 | $274 | Yes (X) | |||
| Thomas Vargo | ||||||||
| AVP of Core Systems & Development | 40.0 | $217,306 | $0 | $21,087 | Yes (X) | |||
| TOMMY GASSO | ||||||||
| VP COMMERCIAL LENDING (THROUGH 9/30/23) | 40.0 | $562,645 | $0 | $11,638 | Yes (X) | |||
| ERIC ESSER | ||||||||
| Former OFFICER | 40.0 | $230,615 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,976,515 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $546,100 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 61 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| COOP | |||||
| 560 CARILLON PARKWAY | STPETERSBURG | FL | 33716 | CARD PROCESSOR | $2,617,812 |
| SHAW CONSTRUCTION | |||||
| 13980 FARMINGTON RD | LIVONIA | MI | 48154 | Construction Services | $1,798,343 |
| Mastercard | |||||
| 2200 Mastercard Blvd | OFallon | MS | 633687263 | Cred Card Processor | $968,647 |
| Jack Henry & Associates Inc | |||||
| 663 W Highway 60 | Monet | MO | 65708 | Core Processor Services | $768,292 |
| NCR CORPORATION | |||||
| 14181 COLLECTIONS CENTER DR | Chicago | IL | 60693 | ATM INSTALL/SERVICER | $355,285 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 31 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| MEMBER LOAN INCOME | 522130 | $80,423,095 | $80,423,095 | |
| INTERCHANGE INCOME | 522130 | $6,472,708 | $6,472,708 | |
| Fee Income | 522130 | $5,794,482 | $5,737,767 | $56,715 |
| Sale of Loans | 522130 | $1,165,101 | $1,165,101 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $93,855,386 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,211,204 | TotalRevenueColumnAmt |
| Exclusion | $2,211,204 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $686,590 | SecuritiesAmt |
| Other | $1,728,226 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $686,590 | SecuritiesAmt |
| Other | $1,728,226 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,414,816 | TotalRevenueColumnAmt |
| Exclusion | $2,414,816 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| other non-interest income | 522130 | $1,083,345 | $1,083,345 |
| MISC Income | 900099 | $419,037 | $419,037 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,502,382 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $99,983,788 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $95,301,053 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $56,715 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,626,020 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $968,333 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,778,678 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,824,744 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,006,348 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,497,952 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,220,125 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,917 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $201,788 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $227,011 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,791,643 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,876,768 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,457,232 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $574,307 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $512,645 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,610,493 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,087,315 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,530 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Lending | $4,590,943 |
| Provision Expense | $3,141,403 |
| CARD FRAUD & DISPUTES | $323,061 |
| Operating Expense | $182,283 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $670,090 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,013,609 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,985,914 | BOYAmt |
| EOY | $6,709,724 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,870,948 | BOYAmt |
| EOY | $3,268,571 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,399,756,890 | BOYAmt |
| EOY | $1,471,641,195 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $45,080,719 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $19,411,092 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,552,507 | BOYAmt |
| EOY | $25,669,627 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,944,036 | BOYAmt |
| EOY | $66,812,222 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,621,251 | BOYAmt |
| EOY | $20,843,937 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,531,731,546 | BOYAmt |
| EOY | $1,594,945,276 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,915,367 | BOYAmt |
| EOY | $17,666,113 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,256,467 | BOYAmt |
| EOY | $4,596,931 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,361,022,224 | BOYAmt |
| EOY | $1,423,615,012 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,382,194,058 | BOYAmt |
| EOY | $1,445,878,056 | EOYAmt |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $149,537,488 | BOYAmt |
| EOY | $149,067,220 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $149,537,488 | BOYAmt |
| EOY | $149,067,220 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,531,731,546 | BOYAmt |
| EOY | $1,594,945,276 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,970,179 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,219,008 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$5,659,455 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,296,341 | OtherCostOrOtherBasisAmt |
| Book Value | $8,296,341 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,717,764 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,670,937 | DepreciationAmt |
| Book Value | $12,046,827 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $12,704,394 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,740,155 | DepreciationAmt |
| Book Value | $2,964,239 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,362,220 | OtherCostOrOtherBasisAmt |
| Book Value | $2,362,220 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $25,669,627 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| BORROWINGS | $88,000,000 |
| MEMBER SAVINGS | $238,494,321 |
| CHECKING | $271,886,006 |
| OTHER SAVINGS | $32,168,877 |
| MONEY MARKET | $260,165,596 |
| CERTIFICATES | $532,900,212 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,423,615,012 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part IV, Line 2b Explanation of escrow agreement | THE ORGANIZATION MAINTAINS MEMBERS SHARES ESCROWS AND FHLBI AND FNMA INVESTOR ESCROWS. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The Credit Union is exempt, under Internal Revenue Code (IRC) 501(c)(14), from federal and state income taxes. The Credit Union has filed tax returns in the past for activities it has deemed taxable and has a minimal net operating loss carryforward as of the 2020 calendar year. The taxing authorities have the ability to assess taxes, penalties, and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities potentially deemed to be unrelated to the Credit Union's exempt purpose is not expected to have a material effect on the Credit Union's financial position or results of operations. The Credit Union evaluated its tax positions and determined no uncertain tax positions exist as of March 31, 2023. The Credit Union's 2019 through 2022 tax years are open for examination by federal and state taxing authorities. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (39 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| American Cancer Society | |||||||
| 20450 CIVIC CENTER DR | SOUTHFIELD | MI | 48076 | 131788491 | 501(c)(3) | $13,163 | GENERAL SUPPORT |
| Atlanta Community Schools | |||||||
| PO BOX 619 | ATLANTA | MI | 49709 | 382603570 | School | $9,000 | GENERAL SUPPORT |
| Buddy's Pals | |||||||
| PO BOX 70 | DEWITT | MI | 48820 | 883824936 | 501(c)(3) | $5,460 | GENERAL SUPPORT |
| Canton Chamber of Commerce | |||||||
| 45525 HANFORD | CANTON | MI | 48187 | 382087835 | 501(c)(6) | $8,100 | GENERAL SUPPORT |
| Canton Community Foundation | |||||||
| 50430 SCHOOL HOUSE RD | CANTON | MI | 48187 | 382898615 | 501(c)(3) | $45,417 | GENERAL SUPPORT |
| Caring Place | |||||||
| 11653 M-33 NORTH | ATLANTA | MI | 49709 | 900282237 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| Children's Miracle Network | |||||||
| 205 W 700 S | SALT LAKE CITY | UT | 841012715 | 870387205 | 501(c)(3) | $75,000 | GENERAL SUPPORT |
| Detroit Cristo Rey | |||||||
| 5679 W VERNOR HWY | DETROIT | MI | 48209 | 262994633 | 501(c)(3) | $23,600 | GENERAL SUPPORT |
| Develop Detroit | |||||||
| 1452 RANDOLPH | DETROIT | MI | 48226 | 811368616 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| First Step | |||||||
| 44567 PINETREE DRIVE | PLYMOUTH | MI | 48170 | 382208980 | 501(c)(3) | $10,079 | GENERAL SUPPORT |
| Foundation For Excellence (WLCSD) | |||||||
| 850 LADD RD BLDG D | WALLED LAKE | MI | 48390 | 383041277 | 501(c)(3) | $6,000 | GENERAL SUPPORT |
| Gaylord Community Schools | |||||||
| 615 South Elm Avenue | Gaylord | MI | 49735 | 382615730 | School | $10,500 | GENERAL SUPPORT |
| Giving Tree Food Pantry | |||||||
| 10722 East M-32 | Johannesburg | MI | 49751 | 383422346 | 501(c)(3) | $15,000 | GENERAL SUPPORT |
| Gleaners Community Food Bank | |||||||
| 2131 Beaufait | DETROIT | MI | 48207 | 382156255 | 501(c)(3) | $12,000 | GENERAL SUPPORT |
| Growing Hope Urban Farm | |||||||
| 922 W Michigan Ave | Ypsilanti | MI | 48197 | 743091845 | 501(c)(3) | $6,500 | GENERAL SUPPORT |
| Habitat for Humanity of Michigan | |||||||
| 618 S Creyts Road | LANSING | MI | 48917 | 383142455 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| Hillman Community Schools | |||||||
| 26042 M-32 SOUTH | HILLMAN | MI | 49746 | School | $7,953 | GENERAL SUPPORT | |
| Hillman Lions Club (International Association of Lions Clubs) | |||||||
| PO Box 151 | Hillman | MI | 49746 | 383650001 | 501(c)(4) | $5,500 | GENERAL SUPPORT |
| Hospitality House | |||||||
| 2075 E West Maple Rd | COMMERCE | MI | 48390 | 383635226 | 501(c)(3) | $30,000 | GENERAL SUPPORT |
| Johannesburg-Lewiston Area Schools | |||||||
| PO Box 69 | Johannesburg | MI | 49751 | 382619890 | School | $14,000 | GENERAL SUPPORT |
| LPS Education Foundation | |||||||
| 15125 Farmington | Livonia | MI | 48154 | 201085968 | 501(c)(3) | $13,500 | GENERAL SUPPORT |
| MCHS Family of Services | |||||||
| 26645 W Six Mile Rd | Redford | MI | 48240 | 381240951 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| MI Founders Fund | |||||||
| 455 E EISENHOWER PKWY STE 300 | Ann Arbor | MI | 48108 | 863992946 | 501(c)(3) | $15,000 | GENERAL SUPPORT |
| New Hope Center for Grief Support | |||||||
| 133 W MAIN ST SUITE 113 | NORTHVILLE | MI | 48167 | 383517205 | 501(c)(3) | $5,985 | GENERAL SUPPORT |
| Northville Community Foundation | |||||||
| 195 S Main St | Northville | MI | 48167 | 383361844 | 501(c)(3) | $6,000 | GENERAL SUPPORT |
| Northville Education Foundation | |||||||
| 405 W MAIN STREET | NORTHVILLE | MI | 48167 | 383503644 | 501(c)(3) | $18,000 | GENERAL SUPPORT |
| Northville Public Schools | |||||||
| 405 W MAIN STREET | NORTHVILLE | MI | 48167 | 382625980 | School | $6,750 | GENERAL SUPPORT |
| Novi Education Foundation | |||||||
| 25345 Taft Road | NOVI | MI | 48374 | 382665305 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| Novi Public Library | |||||||
| 45255 W Ten Mile Rd | NOVI | MI | 48375 | 386032551 | Government | $11,000 | GENERAL SUPPORT |
| Novi Rotary Foundation | |||||||
| PO Box 159 | Novi | MI | 48376 | 582536723 | 501(c)(3) | $9,000 | GENERAL SUPPORT |
| Plym UW (On behalf of Plym Salv Arm) | |||||||
| 960 W Ann Arbor Trail Suite 2 | Plymouth | MI | 48170 | 237327248 | 501(c)(3) | $7,000 | GENERAL SUPPORT |
| Plymouth Chamber of Commerce | |||||||
| 850 W Ann Arbor Trail | Plymouth | MI | 48170 | 380933390 | 501(c)(6) | $6,800 | GENERAL SUPPORT |
| Plymouth Community Arts Council | |||||||
| 774 Sheldon Rd | Plymouth | MI | 48170 | 382132636 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| Plymouth-Canton Community Schools | |||||||
| 454 South Harvey St | Plymouth | MI | 48170 | 382628560 | School | $13,547 | GENERAL SUPPORT |
| Plymouth-Canton Educational Foundation | |||||||
| 454 S Harvey St | Plymouth | MI | 48170 | 382638321 | 501(c)(3) | $25,000 | GENERAL SUPPORT |
| The Heat and Warmth Fund | |||||||
| 535 Griswold St 200 | Detroit | MI | 48226 | 382646924 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| The Refuge in Otsego County | |||||||
| 116 E 5th | Gaylord | MI | 49735 | 464617368 | 501(c)(3) | $10,000 | GENERAL SUPPORT |
| Wayne-Westland Community School District | |||||||
| 36745 Marquette St | Westland | MI | 48185 | 386004180 | School | $6,780 | GENERAL SUPPORT |
| Wayne-Westland Foundation for Improvement of Instruction | |||||||
| 36745 Marquette St | Westland | MI | 48185 | 382336370 | 501(c)(3) | $20,750 | GENERAL SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 36 | Total501c3OrgCnt |
| Total Other Org | 3 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | COMMUNITY FINANCIAL CREDIT UNION WILL MAKE THE SCHOLARSHIP PAYMENTS DIRECTLY TO THE RECEIVING COLLEGE OR UNIVERSITY AS ITS METHOD OF ENSURING THE GRANT FUNDS ARE USED IN ALIGNMENT WITH ITS PURPOSE. CFCU's Community Relations Department chooses public charities throughout the community to provide funds to. CFCU is active in the community's it serves and supports organizations providing social services, scholarships and governmental services. Support provided to the selected public charities is typically intended for general support. Community Financial also provides tuition reimbursement up to $4,000/year per employee based on grade received. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (15 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ELRY ARMAZA | ||||||||||||||
| CHIEF OF STAFF | $266,252 | $0 | $38,674 | $0 | $1,216 | $0 | $0 | $0 | $3,750 | $0 | $309,892 | $0 | $0 | $0 |
| ART BEARD | ||||||||||||||
| CHIEF INFORMATION AND DIGITAL OFFICER | $299,238 | $0 | $78,564 | $0 | $32,579 | $0 | $74,645 | $0 | $0 | $0 | $485,026 | $0 | $31,613 | $0 |
| SCOTT CAMERON | ||||||||||||||
| EVP/CFO | $300,974 | $0 | $74,875 | $0 | $1,094 | $0 | $75,140 | $0 | $11,591 | $0 | $463,674 | $0 | $0 | $0 |
| CHRIS CURRY | ||||||||||||||
| SVP OF OPERATIONS AND RISK | $259,588 | $0 | $74,668 | $0 | $23,935 | $0 | $74,926 | $0 | $16,959 | $0 | $450,076 | $0 | $23,256 | $0 |
| DANIELLE FRAWLEY | ||||||||||||||
| CHIEF GROWTH OFFICER | $185,543 | $0 | $20,292 | $0 | $430 | $0 | $14,092 | $0 | $35 | $0 | $220,392 | $0 | $0 | $0 |
| JILL JOHNSON | ||||||||||||||
| CHIEF REVENUE AND LENDING OFFICER | $278,911 | $0 | $77,311 | $0 | $33,914 | $0 | $77,242 | $0 | $9,931 | $0 | $477,309 | $0 | $32,071 | $0 |
| CATHY MEYERS | ||||||||||||||
| CHIEF PEOPLE OFFICER | $247,622 | $0 | $71,600 | $0 | $53,248 | $0 | $72,315 | $0 | $4,495 | $0 | $449,280 | $0 | $29,519 | $0 |
| DANIELLE MILNER | ||||||||||||||
| CHIEF EXPERIENCE OFFICER | $268,487 | $0 | $34,054 | $0 | $1,543 | $0 | $7,465 | $0 | $12,564 | $0 | $324,113 | $0 | $0 | $0 |
| TANSLEY STEARNS | ||||||||||||||
| CEO | $491,284 | $0 | $78,609 | $0 | $793 | $0 | $22,500 | $0 | $5,730 | $0 | $598,916 | $0 | $0 | $0 |
| ERIC ESSER | ||||||||||||||
| Former OFFICER | $0 | $0 | $0 | $0 | $230,615 | $0 | $0 | $0 | $0 | $0 | $230,615 | $0 | $24,896 | $0 |
| MICHAEL ERFOURTH | ||||||||||||||
| VP BUSINESS EXPERIENCE | $149,449 | $0 | $70,791 | $0 | $1,097 | $0 | $0 | $0 | $274 | $0 | $221,611 | $0 | $0 | $0 |
| TOMMY GASSO | ||||||||||||||
| VP COMMERCIAL LENDING (THROUGH 9/30/23) | $189,583 | $0 | $372,925 | $0 | $137 | $0 | $5,861 | $0 | $5,777 | $0 | $574,283 | $0 | $0 | $0 |
| DAVID HEFFNER | ||||||||||||||
| SVP Lending | $155,805 | $0 | $42,976 | $0 | $22,027 | $0 | $7,768 | $0 | $11,591 | $0 | $240,167 | $0 | $0 | $0 |
| JAMES POTTER | ||||||||||||||
| INVESTMENT REPRESENTATIVE | $47,220 | $0 | $180,977 | $0 | $309 | $0 | $5,500 | $0 | $4,862 | $0 | $238,868 | $0 | $0 | $0 |
| Thomas Vargo | ||||||||||||||
| AVP of Core Systems & Development | $189,166 | $0 | $26,952 | $0 | $1,188 | $0 | $18,765 | $0 | $2,322 | $0 | $238,393 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 4a Severance or change-of-control payment | THE FOLLOWING PERSONS RECEIVED PAYMENTS AS PART OF A SEVERANCE AGREEMENT IN 2023: ERIC ESSER - $230,615 |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | THE FOLLOWING INTERESTED PERSONS RECEIVED DEFERRALS TO THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IN 2023: ART BEARD - $55,822 SCOTT CAMERON- $52,640 CATHY MEYERS - $49,815 JILL JOHNSON - $54,742 CHRIS CURRY - $52,426 THE FOLLOWING INTERESTED PERSONS RECEIVED DISTRIBUTIONS FROM THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IN 2023: ART BEARD - $31,613 ERIC ESSER - $24,896 CATHY MEYERS - $29,519 JILL JOHNSON - $32,071 CHRIS CURRY - $23,256 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (24 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| ARMAZAELRY | |||||||
| CHIEF OF STAFF | PERSONAL OR BUSINESS LOAN | Yes (X) | $540,000 | $530,092 | false | Yes (true) | Yes (true) |
| BAINDONALD | |||||||
| BOARD CHAIR | PERSONAL OR BUSINESS LOAN | Yes (X) | $14,873 | $89 | false | Yes (true) | Yes (true) |
| BEARDARTHUR | |||||||
| CHIEF IT OFFICER | PERSONAL OR BUSINESS LOAN | Yes (X) | $489,977 | $408,346 | false | Yes (true) | Yes (true) |
| BERRIEALBERT C | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $350,506 | $346,679 | false | Yes (true) | Yes (true) |
| CAMERONSCOTT M | |||||||
| CFO | PERSONAL OR BUSINESS LOAN | Yes (X) | $519,892 | $457,907 | false | Yes (true) | Yes (true) |
| CURRYCHRISTOPHE | |||||||
| CHIEF ENTERPRISE RISK MANAGER | PERSONAL OR BUSINESS LOAN | Yes (X) | $185,615 | $110,383 | false | Yes (true) | Yes (true) |
| HERRIMANDANIEL | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $3,000 | $721 | false | Yes (true) | Yes (true) |
| JOHNSONJILL | |||||||
| CHIEF LENDING OFFICER | PERSONAL OR BUSINESS LOAN | Yes (X) | $297,989 | $219,957 | false | Yes (true) | Yes (true) |
| JOHNSONRUSTY | |||||||
| FAMILY MEMBER OF INTERESTED PERSON | PERSONAL OR BUSINESS LOAN | Yes (X) | $95,000 | $72,000 | false | Yes (true) | Yes (true) |
| LAVOYDENNIS L | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $290,500 | $259,854 | false | Yes (true) | Yes (true) |
| MEYERSCATHY L | |||||||
| CHIEF HUMAN RESOURCES OFFICER | PERSONAL OR BUSINESS LOAN | Yes (X) | $73,266 | $6,325 | false | Yes (true) | Yes (true) |
| MEYERSEMILY E | |||||||
| FAMILY MEMBER OF INTERESTED PERSON | PERSONAL OR BUSINESS LOAN | Yes (X) | $1,622 | $859 | false | Yes (true) | Yes (true) |
| MEYERSLAUREN N | |||||||
| FAMILY MEMBER OF INTERESTED PERSON | PERSONAL OR BUSINESS LOAN | Yes (X) | $1,000 | $61 | false | Yes (true) | Yes (true) |
| NEIRYNCKKATHY F | |||||||
| SUPERVISORY COMMITTEE | PERSONAL OR BUSINESS LOAN | Yes (X) | $3,669 | $1,558 | false | Yes (true) | Yes (true) |
| PENNERRANDOLPH | |||||||
| CHIEF SALES & MARKETING OFFICER | PERSONAL OR BUSINESS LOAN | Yes (X) | $59,685 | $56,664 | false | Yes (true) | Yes (true) |
| REESEPATRICIA | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $50,643 | $46,216 | false | Yes (true) | Yes (true) |
| RIEGALBAILEY M | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $27,156 | $1,377 | false | Yes (true) | Yes (true) |
| RIEGALJACOB D | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $3,000 | $224 | false | Yes (true) | Yes (true) |
| RIEGALMARK C | |||||||
| BOARD MEMBER | PERSONAL OR BUSINESS LOAN | Yes (X) | $1,000 | $77 | false | Yes (true) | Yes (true) |
| ROWLEYSTEPHEN K | |||||||
| SUPERVISORY COMMITTEE | PERSONAL OR BUSINESS LOAN | Yes (X) | $251,715 | $228 | false | Yes (true) | Yes (true) |
| SUTTONMARIE A | |||||||
| FAMILY MEMBER OF INTERESTED PERSON | PERSONAL OR BUSINESS LOAN | Yes (X) | $267,500 | $7,837 | false | Yes (true) | Yes (true) |
| SING TEJKIRAN | |||||||
| FAMILY MEMBER OF INTERESTED PERSON | PERSONAL OR BUSINESS LOAN | Yes (X) | $34,149 | $29,933 | false | Yes (true) | Yes (true) |
| STEARNS TANSLEY | |||||||
| CEO | PERSONAL OR BUSINESS LOAN | Yes (X) | $747,102 | $711,184 | false | Yes (true) | Yes (true) |
| (no name) | |||||||
| $3,268,572 | |||||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $6,537,143 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part IV, Line 12a FINANCIAL STATEMENTS FOR THE TAX YEAR | THE AUDITED FINANCIALS USE A REGULATORY YEAR END OF MARCH 31. AN AUDIT WILL NEXT BE PERFORMED FOR THE MARCH 31, 2024 YEAR END. |
| Form 990, Part VI, Line 15 process for determining compensation | Every other year the credit union engages with D Hilton to have compensation grades repriced and evaluated. The last review was done in 2022. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | Each account holder is a member of the credit union. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | The members of the credit union vote on board member changes and charter changes. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | The members of the credit union vote on board member changes and charter changes. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The Manager/Accounting reviews both Form 990 and 990T prior to filing. |
| Form 990, Part VI, Line 12c Conflict of interest policy | THE ORGANIZATION'S OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. EACH SIGNED POLICY STATEMENT IS REVIEWED TO DETERMINE IF ANY CONFLICTS EXIST AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE FINANCIAL STATEMENTS ARE POSTED IN EACH BRANCH OFFICE, UPDATED MONTHLY. THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | CECL ADOPTION - CHANGE IN ACCOUNTING PRINCIPLE - -5659455; |