2023-07-24T15:21:30-05:00 2022-12-31 383567911 REHMANN ROBSON LLC 5800 GRATIOT PO BOX 2025 SAGINAW MI 486052025 990 2022-01-01 381439120 FINANCIAL PLUS CREDIT UNION FINA 8102442200 PO BOX 7006 FLINT MI 48507 WADE DECKER CHIEF FINANCIAL OFFICER 8102442927 2023-07-17 1 WADE DECKER 999009999 1 JEFFREY E HERT CPA P00066715 9897999580 2023-07-17 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WADE DECKER G-3381 VAN SLYKE ROAD FLINT MI 48507 177406353 0 X WWW.MYFPCU.COM X 1952 MI ENHANCING THE FINANCIAL WELL-BEING OF OUR MEMBERS AND OUR COMMUNITIES. 11 11 352 18 132110 0 0 0 32762765 45254674 3823167 4711442 25685 0 36611617 49966116 0 0 0 0 13227076 18363859 0 0 0 14694824 24209628 27921900 42573487 8689717 7392629 802734792 1232513294 714462500 1101199184 88272292 131314110 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 16444 0 1 352 1 1 1 0 0 0 0 0 0 0 0 0 0 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 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 DEANNA WALLACE SVP OF HR & MEMBER EXPERIE 50.00 X 214530 0 35632 WADE DECKER CFO 50.00 X 294525 0 49051 BRADLEY BERGMOOSER PRESIDENT & CEO 50.00 X 559036 0 75254 RACHELLE KIPPE SVP OF LENDING 50.00 X 215331 0 39941 MICHELLE THOMPSON VP OF OPERATIONS 50.00 X 116707 0 29602 NATHAN ADAMS DIRECTOR OF COMM. LENDING 50.00 X 192491 0 37332 STEVEN MARTIN DIRECTOR OF INTERNAL AUDIT 50.00 X 146352 0 27746 LISA SHOEMAKER VP OF MORTGAGE LENDING 50.00 X 161393 0 22619 BERNARD WILLIAMS INTEGRATION ADVISOR 50.00 X 422128 0 34375 TAMMY O'LEARY INTEGRATION ADVISOR 50.00 X 212137 0 9230 SUSAN BENNETT VP OF IT & OPERATIONS 50.00 X 146009 0 24615 2680639 0 385397 16 1 1 0 MDT 7415 CHICAGO RD WARREN MI 48092 CORE SYSTEMS CHARGES 1930029 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 WANIGAS MONTHLY ONLINE BANKING, DECONVER 848281 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 VISA CARD BIN NUMBER SYSTEM CHARGES 778398 CORNERSTONE ADVISORS 7272 E INDIAN SCHOOL RD SUITE 400 SCOTTSDALE AZ 85251 NEGOTIATIONS/CARD SME/IMPLEMENTATION FEE 635884 CU COOPERATIVE 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM, CREDIT & DEBIT PROCESSING 612038 21 LOAN INTEREST 522100 29742098 29742098 FEES & OPERATING INCOME 522100 15512576 15380466 132110 45254674 5368241 5368241 126747638 35800 127410302 29935 -662664 5865 -656799 -656799 49966116 49834006 132110 0 1800233 11912664 1512231 2041330 1097401 1815861 48352 186016 428203 1485645 2961688 2968679 533469 117390 104380 3205177 1780732 29266 PROVISION FOR LOAN LOSS 2143474 LOAN SERVICING 1800775 MISCELLANEOUS 1330359 CREDIT CARD EXPENSES 1255785 2014377 42573487 9162461 15773051 22142998 39663010 405270 12653944 2003000 3436000 496152193 832688447 1208564 1841579 41270797 21744461 12828276 19526336 240375590 262060857 1800000 3155900 9138188 16656440 32575982 802734792 1232513294 2584495 4990665 66201 1594143 30000000 25000000 681811804 1069614376 714462500 1101199184 X 0 0 0 0 88272292 131314110 88272292 131314110 802734792 1232513294 X 7392629 -19679675 55328864 X X 0 1 X 1 0 4268066 4268066 28234159 14017128 14217031 8754887 7727333 1027554 13685 13685 19526336 ACCRUED PAYROLL LIABILITIES 3193303 MEMBERS' ACCOUNTS 1046565184 OTHER LIABILITIES 3558889 PRIMARY FINANCIAL SIMPLI CD 16297000 1069614376 X 49966116 0 49966116 0 49966116 42573487 0 42573487 0 42573487 PART X, LINE 2: THE CREDIT UNION HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR THE YEARS 2019 THROUGH 2022, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2022. 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, 2022 AND 2021, 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 1 0 BRADLEY BERGMOOSER PRESIDENT & CEO 559036 0 0 0 0 0 54693 0 20561 0 634290 0 0 0 BERNARD WILLIAMS INTEGRATION ADVISOR 422128 0 0 0 0 0 12081 0 22294 0 456503 0 0 0 WADE DECKER CFO 294525 0 0 0 0 0 29453 0 19598 0 343576 0 0 0 RACHELLE KIPPE SVP OF LENDING 215331 0 0 0 0 0 21533 0 18408 0 255272 0 0 0 DEANNA WALLACE SVP OF HR & MEMBER EXPERIE 214530 0 0 0 0 0 20486 0 15146 0 250162 0 0 0 NATHAN ADAMS DIRECTOR OF COMM. LENDING 192491 0 0 0 0 0 19048 0 18284 0 229823 0 0 0 TAMMY O'LEARY INTEGRATION ADVISOR 212137 0 0 0 0 0 5912 0 3318 0 221367 0 0 0 LISA SHOEMAKER VP OF MORTGAGE LENDING 161393 0 0 0 0 0 5100 0 17519 0 184012 0 0 0 STEVEN MARTIN DIRECTOR OF INTERNAL AUDIT 146352 0 0 0 0 0 10724 0 17022 0 174098 0 0 0 SUSAN BENNETT VP OF IT & OPERATIONS 146009 0 0 0 0 0 14599 0 10016 0 170624 0 0 0 PART I, LINE 4B THE CREDIT UNION MAINTAINED A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN FOR THE FORMER EXECUTIVE, MARILYN RENO. THE PLAN PROVIDED, UPON RETIREMENT, TWO LUMP SUM CASH PAYMENTS. A RELATED LIABILITY WAS ACCRUED FOR THE FUTURE BENEFIT PAYMENTS OF $250,000 AND $500,000 AT DECEMBER 31, 2021 AND 2020, RESPECTIVELY. SUCH AMOUNTS WERE INCLUDED IN ACCRUED EXPENSES AND OTHER LIABILITIES ON THE ACCOMPANYING STATEMENTS OF FINANCIAL CONDITION. NO REMAINING LIABILITY WAS OUTSTANDING AT DECEMBER 31, 2022. BRADLEY BERGMOOSER CEO SPLIT DOLLAR LIFE INSURANCE X 1975000 2033000 0 1 1 BERNARD WILLIAMS INTEGRATION ADVISOR SPLIT DOLLAR LIFE INSURANCE X 1312000 1403000 0 1 1 3436000 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 328,864. EQUITY ACQUIRED IN MERGER 55,000,000. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.