2023-08-10T14:34:05-05:00 2022-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2022-01-01 381449460 CREDIT UNION CHARTERED IN THE STATE OF MI 806 FAMILY FINANCIAL CREDIT UNION CRED 2317334600 3575 HENRY STREET MUSKEGON MI 49441 DEBRA DIETZ PRESIDENT/CEO 2317334600 2023-08-10 1 DEBRA DIETZ 999009999 0 BRANDON M WILSON P02447970 2482443000 2023-08-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z FAMILY FINANCIAL CREDIT UNION DEBRA DIETZ 3575 HENRY STREET MUSKEGON MI 49441 8044138 0 X WWW.FF-CU.ORG X 1942 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 7 50 7 47478 0 0 0 5366184 5628320 532002 922540 0 0 5898186 6550860 2000 2500 0 0 2233445 2413274 0 0 0 3190603 3388550 5426048 5804324 472138 746536 159492390 160295625 142933617 145805326 16558773 14490299 WE ARE A MEMBER OWNED FINANCIAL INSTITUTION DEDICATED TO MEETING OUR MEMBERS NEEDS BY PROVIDING QUALITY FINANCIAL SERVICES WITH A WELL-TRAINED FRIENDLY STAFF. 0 0 PROVIDE 16,628 MEMBERS WITH SAVINGS, SHARE DRAFT, CLUB, MONEY MARKET, CERTIFICATES OF DEPOSITS AND INDIVIDUAL RETIREMENT ACCOUNTS TOTALING 29,375. PROVIDE 8,412 LOANS INCLUDING CREDIT CARDS, LINE OF CREDIT, VEHICLE, REAL ESTATE, SHARE SECURED, RECREATIONAL VEHICLE, HOME EQUITY, PARTICIPATION AND INDIRECT LOANS. OFFER ATM/DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, ELECTRONIC BANKING, BILL PAYER, OVERDRAFT PROTECTION/COURTESY PAY, REMOTE DEPOSIT CAPTURE, MONEY ORDERS, GIFT CARDS, BILINGUAL SERVICES, FINANCIAL EDUCATION AND 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2214 0 1 50 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 0 1 1 1 0 X FAMILY FINANCIAL CREDIT UNION 2317334600 3575 HENRY STREET MUSKEGON MI 49441 LINDA SHEPICH BOARD - CHAIRPERSON 2.00 X 0 0 0 JIM PORTER BOARD - VICE CHAIRPERSON 2.00 X 0 0 0 JOHN TARANKO BOARD - DIRECTOR 2.00 X 0 0 0 STARR EVANS BOARD - TREASURER 2.00 X 0 0 0 KRISTEN COLLEE BOARD - SECRETARY 2.00 X 0 0 0 DENISE WINEBARGER BOARD - DIRECTOR 2.00 X 0 0 0 KEVIN HUSS BOARD - DIRECTOR 2.00 X 0 0 0 DEBRA K DIETZ CEO 40.00 X 154605 0 12889 LYNN ANN MUMBY ACCOUNTING MANAGER 40.00 X 55722 0 5582 TAMMY TOMPKINS EXECUTIVE VP 40.00 X 109888 0 16693 320215 0 35164 2 0 1 0 JACK HENRY & ASSOCIATES INC 663 WEST HIGHWAY 60 MONETT MO 65708 CARD PROCESSOR 581856 MDT 30230 ORCHARD LAKE RD FARMINGTON HILL MI 48334 DATA PROCESSOR 513598 EDGE ONE 161 BUSINESS PARK CIRCLE STOUGHTON WI 53589 EQUIPMENT IT SERVICES 319785 MUSKEGON QUALITY BUILDERS 2837 PECK ST MUSKEGON MI 49444 CONSTRUCTION 234105 KASASA LTD PO BOX 527 LUBBOCK TX 79408 CHECKING SERVICES 102654 5 LOAN INTEREST INCOME 522100 3931042 3931042 FEE & OTHER INCOME 522100 1649800 1649800 FINANCE AND INSURANCE 520000 47478 47478 5628320 920895 920895 1494923 1493278 1645 1645 1645 6550860 6503382 47478 0 2500 228798 1598431 135502 305792 144751 36000 5213 144993 1056555 543843 266224 9996 492938 234314 50433 LOAN SERVICING 384073 PROVISION FOR LOAN LOSS 82000 MISCELLANEOUS EXPENSES 45864 ASSOCIATION DUES/EXAM F 36104 5804324 2895714 3404300 7050690 5430166 85023208 90778847 167057 114959 5264862 1237271 4096310 4027591 31425387 46083240 26913547 7963605 1920477 2492917 159492390 160295625 1077829 1601767 141855788 144203559 142933617 145805326 X 0 0 0 0 16558773 14490299 16558773 14490299 159492390 160295625 746536 -2815010 0 X X 0 1 X 1 0 806328 806328 3703143 990200 2712943 755391 247071 508320 4027591 AFS CD INVESTMENTS 37074201 F CO-OP NETWORK STOCK 100 C CORPORATE BONDS 250030 C CD'S 6211000 C FEDERAL AGENCIES 2547909 C 46083240 MEMBER SHARES & DEPOSITS 144203559 144203559 X 6550860 0 6550860 0 6550860 5804324 0 5804324 0 5804324 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. X X 0 0 0 DEBRA K DIETZ CEO 146086 0 7519 0 1000 0 10924 0 1965 0 167494 0 0 0 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 BALLOT AND ANNOUNCED AT THE ANNUAL MEETING FOR 3 YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B ANY BY-LAW CHANGES, MERGERS, FIELD OF MEMBERSHIP OR CHARTER CHANGES REQUIRE MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE PRESIDENT/CEO AND THE ACCOUNTING MANAGER 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 AT THE ANNUAL ORGANIZATIONAL MEETING, ANY POSSIBLE CONFLICTS OF INTEREST ARE RECORDED IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVE COMPENSATION FOR THE PRESIDENT/CEO. THE PRESIDENT/CEO AND THE BOARD OF DIRECTORS APPROVE EMPLOYEE COMPENSATION BASED ON SALARY SURVEYS AND PERFORMANCE. THE LAST COMPENSATION REVIEW WAS COMPLETED IN DECEMBER 2022. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. OTHER DOCUMENTS AND POLICIES CAN BE REVIEWED AT THE MAIN BRANCH UPON REQUEST. 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.