CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1629793)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-09-19
- IRS object ID
- 202322629349301517
- Schema version
- 2022v5.0
- 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 | 2023-09-19T16:30:30-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 WEST BIG BEAVER ROAD | AddressLine1Txt |
| City | TROY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48084 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381629793 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN SCHOOLS AND GOVERNMENT CREDIT | BusinessNameLine1Txt |
| Business Name Line2 | UNION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MICH | BusinessNameControlTxt |
| Phone | 5862638800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40400 GARFIELD RD | AddressLine1Txt |
| City | CLINTON TOWNSHIP | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48038 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VALLORIE MCBRIDE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 5862638800 | PhoneNum |
| Signature | 2023-09-19 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | VALLORIE | PersonFirstNm |
| Person Last | MCBRIDE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOSEPH A ZITO CPA | PreparerPersonNm |
| PTIN | P00648440 | PTIN |
| Phone | 2482443000 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEVE BREWER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40400 GARFIELD RD | AddressLine1Txt |
| City | CLINTON TOWNSHIP | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48038 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $153,127,295 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1359 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MSGCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1954 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | FOUNDED BY EDUCATORS, MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION HAS BEEN PROVIDING QUALITY FINANCIAL SERVICES FOR OVER 69 YEARS AND WELCOMES EVERYONE IN MICHIGAN TO BANK WITH US. AS A NOT-FOR-PROFIT, WE GIVE BACK TO OUR MEMBERS THROUGH BETTER RATES, FEWER FEES, FREE FINANCIAL EDUCATION, GRANTS, SCHOLARSHIPS, AND COMMUNITY SUPPORT. WE WORK WITH OUR MEMBERS TO PERSONALIZE PLANS AND OFFER PRODUCTS AND SERVICES TO HELP MEET THEIR FINANCIAL GOALS AND INCREASE THEIR FINANCIAL KNOWLEDGE. MSGCU OFFERS A FULL RANGE OF LOAN, DEPOSIT, CHECKING, CREDIT CARD, MORTGAGE, AND INSURANCE PRODUCTS. WITH 18 BRANCHES IN MACOMB, OAKLAND, WAYNE AND WASHTENAW COUNTIES, MSGCU HAS MORE THAN 145,000 MEMBERS, OVER 400 TEAM MEMBERS, $3.4 BILLION IN ASSETS, AND EARNED A 95% OR HIGHER MEMBER SATISFACTION RATING FOR OVER 20 YEARS. MSGCU HAS ALSO EARNED FIVE STARS, AS REPORTED BY BAUER FINANCIAL, FOR MORE THAN 30 YEARS, AND HAS BEEN HONORED AS A TOP WORKPLACE BY THE DETROIT FREE PRESS FOR THE PAST 10 YEARS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 482 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $203,353 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $109,188,756 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $119,536,683 | CYProgramServiceRevenueAmt |
| PY Investment Income | $6,268,964 | PYInvestmentIncomeAmt |
| CY Investment Income | $7,223,982 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $115,457,720 | PYTotalRevenueAmt |
| CY Total Revenue | $126,760,665 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $166,110 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $154,642 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $35,034,890 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $37,682,798 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $42,735,418 | PYOtherExpensesAmt |
| CY Other Expenses | $45,315,988 | CYOtherExpensesAmt |
| PY Total Expenses | $77,936,418 | PYTotalExpensesAmt |
| CY Total Expenses | $83,153,428 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $37,521,302 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $43,607,237 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,068,747,871 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,333,677,668 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,701,422,240 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,933,284,782 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $367,325,631 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $400,392,886 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | WE ARE A CARING ORGANIZATION DEDICATED TO PROMOTING FINANCIAL SUCCESS FOR OUR MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | WITH 18 OFFICES LOCATED THROUGHOUT MACOMB, OAKLAND, WAYNE AND WASHTENAW COUNTIES, PROVIDING FULL ONLINE BANKING AND MOBILE SERVICES, WITH $3.3 BILLION IN ASSETS, $2.8 BILLION IN LOANS, AND A STAFF OF 410 EMPLOYEES, MSGCU IS A VALUED RESOURCE FOR FINANCIAL WELLBEING FOR BOTH CONSUMERS AND BUSINESSES. AT THE END OF 2022,THE CONSUMER LENDING PORTION OF THE PORTFOLIO WAS JUST OVER $1.3 BILLION, THE MORTGAGE PORTFOLIO WAS JUST OVER $1.3 BILLION AND THE BUSINESS LOAN PORTFOLIO WAS $171 MILLION. MEMBER SHARES TOTALED APPROXIMATELY $2.7 BILLION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION CONTINUED ITS SCHOLARSHIP PROGRAMS IN 2022 BY PROVIDING $87,500 VIA 35 SCHOLARSHIPS TO HIGH SCHOOL SENIORS WHO WILL ATTEND COLLEGE, FUTURE SKILLED TRADESPERSONS PURSUING THEIR CERTIFICATION, CURRENT TEACHERS AND SCHOOL ADMINISTRATORS ENROLLED IN A CONTINUING EDUCATION PROGRAM, AS WELL TO FIRST RESPONDERS WHO WILL GRADUATE FROM THE FIRE AND POLICE ACADEMIES AT MACOMB COMMUNITY COLLEGE, OAKLAND COMMUNITY COLLEGE, AND SCHOOLCRAFT COLLEGE. ADDITIONALLY, MSGCU GIFTED FUNDS TO THREE COLLEGES IN THE AMOUNT OF $21,000. THE RECIPIENTS OF THE FUNDS WERE DETERMINED BY THE COLLEGES INDEPENDENT OF MSGCU.OVER THE YEARS WE HAVE BEEN RECOGNIZED FOR THE WORK WE DO FOR OUR MEMBERS, EMPLOYEES, AND THE COMMUNITY. THE DETROIT FREE PRESS SELECTED MSGCU AS A TOP WORKPLACE IN MICHIGAN FOR THE TENTH CONSECUTIVE YEAR. WE ARE ALSO PROUD OF A 96% OR HIGHER MEMBER SATISFACTION RATING FOR MORE THAN TEN YEARS AND ACHIEVING THE BAUER FINANCIAL HIGHEST POSSIBLE RATING OF FIVE STARS FOR THE PAST TWENTY YEARS. THESE ACCOMPLISHMENTS CONFIRM THAT WE ARE MAKING A DIFFERENCE IN THE COMMUNITIES WE SERVE IN SOUTHEAST MICHIGAN. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | THE CREDIT UNION GAVE BACK TO OUR COMMUNITIES TO LOCAL EDUCATORS AND SCHOOLS AS WELL AS NONPROFITS AND COMMUNITY ORGANIZATIONS. MSGCU'S CLASSROOM CASH GRANT PROGRAM PROVIDES FUNDS TO TEACHERS TO BE USED FOR OTHERWISE UNFUNDED INNOVATIVE CLASSROOM PROJECTS. IN 2022, MSGCU AWARDED 63 GRANTS TOTALING MORE THAN $45,000 TO LOCAL EDUCATORS TO BE USED DURING THE 2022/2023 SCHOOL YEAR.MSGCU'S GIVING BACK PROGRAM RETURNED IN 2022 AS WELL. EACH MSGCU BRANCH OFFICE GAVE A $1,000 GRANT TO HELP A NON-PROFIT GROUP OR ORGANIZATION WITHIN THEIR COMMUNITY. MSGCU GAVE $17,000 IN GRANTS TO 17 LOCAL COMMUNITY ORGANIZATIONS THROUGH THESE EFFORTS. MSGCU WAS PLEASED TO DONATE $68,000 IN LIBRARY GRANTS TO OVER 90 ELEMENTARY SCHOOLS NEAR ITS BRANCH OFFICES IN 2022. THESE FUNDS HELPED SCHOOLS PURCHASE BOOKS AND STOCK LIBRARY SHELVES THAT WERE DEPLETED DUE TO UNRETURNED BOOKS AFTER THE COVID-19 PANDEMIC. TO SUPPORT UKRAINIAN REFUGEES, MSGCU DONATED $10,000 TO THE UKRAINIAN CREDIT UNION DISPLACEMENT FUND THROUGH THE WORLDWIDE FOUNDATION FOR CREDIT UNIONS. AN ADDITIONAL MONETARY MATCH OF $2,550 MEMBER AND TEAM MEMBER DONATIONS OCCURRED IN MAY 2022. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DURING 2022, THE CREDIT UNION SERVED MORE THAN 13,000 PARTICIPANTS WITH OUR FINANCIAL EDUCATION WORKSHOPS, WHICH FEATURED TOPICS LIKE HOME BUYING, GETTING STARTED WITH CASH AND CREDIT, UNDERSTANDING CREDIT REPORTS, AND MORE. MSGCU OFFERED 340 FINANCIAL EDUCATION WORKSHOPS IN VARIOUS FORMATS. WORKSHOPS WERE CONDUCTED IN PERSON AT SCHOOLS, COMMUNITY LOCATIONS LIKE LIBRARIES OR SENIOR CENTERS, AT ONE OF OUR BRANCHES, OR VIRTUALLY. CONSUMER EDUCATION COST THE CREDIT UNION $17,160 IN 2022. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 50720 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 482 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VALLORIE MCBRIDE | PersonNm |
| Phone | 5862638800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40400 GARFIELD RD | AddressLine1Txt |
| City | CLINTON TOWNSHIP | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48038 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| WILLIAM CAYEN | |||||||
| CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RICHARD MAIERLE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES MCCANN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TERESA DIMARIA | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD CALLAGHAN | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RICHARD SHOEMAKER | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DOUGLAS SMITH | |||||||
| VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHARLES THOMAS | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH ARGIRI | |||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DENISE BROOKS-WILLIAMS | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTINA AYAR | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PETER GATES | |||||||
| PRESIDENT/CEO | 40.00 | $980,279 | $0 | $49,505 | Yes (X) | ||
| STEVE BREWER | |||||||
| PRESIDENT/CEO | 40.00 | $453,519 | $0 | $52,636 | Yes (X) | ||
| PHILIP COOPER | |||||||
| CLO | 40.00 | $394,961 | $0 | $48,085 | Yes (X) | ||
| DEBORAH FAHRNEY | |||||||
| CRO | 40.00 | $381,700 | $0 | $53,453 | Yes (X) | ||
| KAREN HANELINE | |||||||
| VP HR | 40.00 | $276,416 | $0 | $39,506 | Yes (X) | ||
| BRYAN WIEGLAT | |||||||
| VP TECHNOLOGY | 40.00 | $251,651 | $0 | $47,126 | Yes (X) | ||
| ANN JONES | |||||||
| VP MARKETING/BUSINESS DEVELOPMENT | 40.00 | $246,972 | $0 | $43,313 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,985,498 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $333,624 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 34 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| KASCO INC | |||||
| 226 E HUDSON AVE | ROYAL OAK | MI | 48067 | CONSTRUCTION SERVICES | $2,708,307 |
| BROGAN & PARTNERS | |||||
| 535 WOODWARD HEIGHTS | FERNDALE | MI | 48220 | MARKETING | $2,165,868 |
| JACK HENRY & ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE PROCESSOR | $934,458 |
| DOXIM INC | |||||
| 747 EAST WHITCOMB AVENUE | MADISON HEIGHTS | MI | 48071 | DOCUMENT SOLUTIONS | $809,506 |
| DIEBOLD NIXDORF INC | |||||
| PO BOX 643543 | PITTSBURGH | PA | 15264 | TECHNOLOGY | $799,660 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 50 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $100,307,426 | $100,307,426 | |
| FEES, CHARGES AND OTHER | 522100 | $19,025,904 | $19,025,904 | |
| FINANCE & INSURANCE | 520000 | $203,353 | $203,353 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $119,536,683 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,287,084 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,570,133 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $716,951 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,489,004 | SecuritiesAmt |
| Other | $19,814,524 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,511,387 | SecuritiesAmt |
| Other | $19,855,243 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$22,383 | SecuritiesAmt |
| Other | -$40,719 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$63,102 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$63,102 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $126,760,665 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $125,840,361 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $203,353 | UnrelatedBusinessRevenueAmt |
| Exclusion | $716,951 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,142 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,535,939 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,567,013 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,414,091 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,078,749 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,087,006 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $235,484 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,355,859 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,471,730 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,067,052 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,014,918 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,142 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,173 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,174,010 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,803 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,582,370 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $292,815 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DEBIT/CREDIT CARD EXPEN | $3,709,944 |
| LOAN SERVICING EXPENSE | $3,389,265 |
| SOFTWARE LICENSING AND | $2,081,190 |
| ONLINE BANKING EXPENSE | $1,201,213 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,466,020 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,153,428 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,275,356 | BOYAmt |
| EOY | $11,855,673 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $223,567,318 | BOYAmt |
| EOY | $30,272,664 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,662,454 | BOYAmt |
| EOY | $4,690,959 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,070,224 | BOYAmt |
| EOY | $14,430,571 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,349,365,520 | BOYAmt |
| EOY | $2,788,112,419 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,861,279 | BOYAmt |
| EOY | $2,338,891 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $85,586,855 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $24,916,711 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,320,183 | BOYAmt |
| EOY | $60,670,144 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $362,123,370 | BOYAmt |
| EOY | $360,019,755 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,425,200 | BOYAmt |
| EOY | $17,554,900 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,076,967 | BOYAmt |
| EOY | $43,731,692 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,068,747,871 | BOYAmt |
| EOY | $3,333,677,668 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,031,315 | BOYAmt |
| EOY | $22,964,536 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,323,159 | BOYAmt |
| EOY | $3,844,260 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,137,952 | BOYAmt |
| EOY | $5,089,470 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,000,000 | BOYAmt |
| EOY | $175,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,622,929,814 | BOYAmt |
| EOY | $2,726,386,516 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,701,422,240 | BOYAmt |
| EOY | $2,933,284,782 | EOYAmt |
| 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 |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $367,325,631 | BOYAmt |
| EOY | $400,392,886 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $367,325,631 | BOYAmt |
| EOY | $400,392,886 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,068,747,871 | BOYAmt |
| EOY | $3,333,677,668 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $43,607,237 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$10,539,982 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $24,329,248 | OtherCostOrOtherBasisAmt |
| Book Value | $24,329,248 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $42,777,133 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,336,071 | DepreciationAmt |
| Book Value | $33,441,062 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,823,233 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,046,923 | DepreciationAmt |
| Book Value | $2,776,310 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $657,241 | OtherCostOrOtherBasisAmt |
| Depreciation | $533,717 | DepreciationAmt |
| Book Value | $123,524 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $60,670,144 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER DEPOSITS | Desc |
| Amt | $2,726,386,516 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,726,386,516 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL, INTEREST, TAX AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. |
| PART X, LINE 2: | MSGCU IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. MSGCU IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. MANAGEMENT EVALUATED MSGCU'S TAX POSITIONS AND CONCLUDED THAT MSGCU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. MSGCU FILES IRS FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) AND OTHER FORMS IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MICHIGAN. THE CREDIT UNION'S OPEN AUDIT PERIOD IS THE THREE-YEAR PERIOD ENDED DECEMBER 31, 2022. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| OAKLAND COMMUNITY COLLEGE FOUNDATION | ||||||||
| 2480 OPYKE ROAD | BLOOMFIELD HILLS | MI | 48034 | 382282180 | 501(C)(3) | $8,000 | $0 | TO ASSIST IN THE FOUNDATION'S INITIATIVE TO FUND EDUCATIONAL SOLUTIONS SCHOLARSHIPS FOR FIRST RESPONDERS |
| MACOMB COMMUNITY COLLEGE FOUNDATION | ||||||||
| 14500 EAST 12 MILE ROAD | WARREN | MI | 48088 | 383495303 | 501(C)(3) | $8,000 | $0 | TO ASSIST IN THE FOUNDATION'S INITIATIVE TO FUND EDUCATIONAL SOLUTIONS SCHOLARSHIPS FOR FIRST RESPONDERS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | COLLEGE SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 35 | RecipientCnt |
| Cash Grant | $87,500 | CashGrantAmt |
| Valuation Method Used | CASH | ValuationMethodUsedDesc |
| Non Cash Assistance | SCHOLARSHIP GRANTS | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | MSGCU GIFTED FUNDS TO THREE COLLEGES/COLLEGE FOUNDATIONS IN THE AMOUNT OF $21,000. THE RECIPIENTS OF THE FUNDS WERE DETERMINED BY THESE ENTITIES INDEPENDENT OF MSGCU. THESE SCHOLARSHIPS BENEFIT FIRST RESPONDERS WHO WILL GRADUATE FROM THE FIRE AND POLICE ACADEMIES AT MACOMB COMMUNITY COLLEGE, OAKLAND COMMUNITY COLLEGE, AND SCHOOLCRAFT COLLEGE. INDIVIDUAL SCHOLARSHIPS ARE GRANTED TO HIGH SCHOOL SENIORS WHO WILL ATTEND COLLEGE, FUTURE SKILLED TRADESPERSONS PURSUING THEIR CERTIFICATION, CURRENT TEACHERS AND SCHOOL ADMINISTRATORS ENROLLED IN A CONTINUING EDUCATION PROGRAM. |
| PART III: | WE HAVE A COMMITTEE THAT REVIEWS APPLICATIONS AND AWARDS SCHOLARSHIPS TO SELECTED INDIVIDUALS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PETER GATES | ||||||||||||||
| PRESIDENT/CEO | $832,984 | $0 | $135,870 | $0 | $11,425 | $0 | $29,650 | $0 | $19,855 | $0 | $1,029,784 | $0 | $0 | $0 |
| STEVE BREWER | ||||||||||||||
| PRESIDENT/CEO | $380,679 | $0 | $69,883 | $0 | $2,957 | $0 | $29,650 | $0 | $22,986 | $0 | $506,155 | $0 | $0 | $0 |
| PHILIP COOPER | ||||||||||||||
| CLO | $329,926 | $0 | $64,735 | $0 | $300 | $0 | $29,650 | $0 | $18,435 | $0 | $443,046 | $0 | $0 | $0 |
| DEBORAH FAHRNEY | ||||||||||||||
| CRO | $318,777 | $0 | $62,232 | $0 | $691 | $0 | $29,639 | $0 | $23,814 | $0 | $435,153 | $0 | $0 | $0 |
| KAREN HANELINE | ||||||||||||||
| VP HR | $204,119 | $0 | $71,977 | $0 | $320 | $0 | $22,397 | $0 | $17,109 | $0 | $315,922 | $0 | $0 | $0 |
| BRYAN WIEGLAT | ||||||||||||||
| VP TECHNOLOGY | $209,405 | $0 | $42,046 | $0 | $200 | $0 | $25,801 | $0 | $21,325 | $0 | $298,777 | $0 | $0 | $0 |
| ANN JONES | ||||||||||||||
| VP MARKETING/BUSINESS DEVELOPMENT | $204,186 | $0 | $42,206 | $0 | $580 | $0 | $21,962 | $0 | $21,351 | $0 | $290,285 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | CERTAIN KEY EXECUTIVES PARTICIPATE IN A COLLATERAL ASSIGNED SPLIT DOLLAR ARRANGEMENT. NO BENEFIT DRAWS WERE MADE BY ANY OF THE PARTICIPANTS DURING 2022. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (2 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| STEVE BREWER | |||||||
| CEO | LIFE INS. | Yes (X) | $4,400,000 | $4,948,301 | 0 | Yes (1) | Yes (1) |
| PETER GATES | |||||||
| CEO | LIFE INS. | Yes (X) | $8,350,000 | $9,482,270 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $14,430,571 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | EACH INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE OR OTHERWISE. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO VOTE IN THE GOVERNING BODY'S ELECTION AND/OR REMOVAL AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CEO, CFO AND ACCOUNTING MANAGER REVIEW THE COMPLETED FORM 990 PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANNUALLY THE BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST DISCLOSURE. |
| FORM 990, PART VI, SECTION B, LINE 15 | ON AN ANNUAL BASIS, CEO COMPENSATION IS RECOMMENDED BY THE PERSONNEL COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF DIRECTORS, AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. ON AN ANNUAL BASIS, ALL OTHER EMPLOYEE COMPENSATION IS SET BY THE CEO, EXECUTIVE TEAM, AND HUMAN RESOURCES. WE UTILIZE A THIRD PARTY COMPENSATION CONSULTANT IN JOB PRICING. |
| FORM 990, PART VI, SECTION C, LINE 19 | FINANCIAL STATEMENTS ARE POSTED IN THE BRANCH LOBBIES AND ARE AVAILABLE TO THE PUBLIC UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART IX, LINE 11G | OTHER PROFESSIONAL SERVICES 2,355,859. |
| FORM 990, PART IX, LINE 24E | PROVISION FOR LOAN LOSSES 1,200,000. COLLECTIONS EXPENSE 815,850. MAINTENANCE 721,588. EDUCATION AND TRAINING 433,448. ASSOCIATION DUES 240,148. OTHER 54,986. |
| FORM 990, PART XII, LINE 2C: | THERE WERE NO CHANGES IN THE PROCESSES UTILIZED BY THE AUDIT COMMITTEE. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 20595 LIVONIA LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 28366 FRANKLIN | AddressLine1Txt |
| City | SOUTHFIELD | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48034 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 455324142 | EIN |
| Primary Activities | HOLDING COMPANY FOR LAND | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Total Income | $0 | TotalIncomeAmt |
| End Of Year Assets | $741,007 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION | BusinessNameLine1Txt |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOC REAL ESTATE INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40400 GARFIELD | AddressLine1Txt |
| City | CLINTON TOWNSHIP | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48038 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 382658390 | EIN |
| Primary Activities | REAL ESTATE | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | -$60,543 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $3,225,424 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SOC REAL ESTATE INC | ||
| K | $730,836 | MARKET LEASE RATES PER SQ FOOT |
| SOC REAL ESTATE INC | ||
| L | $120,000 | SALARY ALLOCATION |