2023-10-19T12:08:17-05:00 2022-12-31 383567911 REHMANN ROBSON LLC PO BOX 2025 SAGINAW MI 486052025 990 2022-01-01 381514946 SECURITY CREDIT UNION SECU 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 HEIDI SCHWARZ VP OF ACCOUNTING 8102352322 2023-10-18 1 HEIDI SCHWARZ 999009999 0 JEFFREY E HERT CPA P00066715 9897999580 2023-10-18 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHRISTOPHER ESTES 5255 SECURITY PARK BLVD HOLLY MI 48442 31630649 0 X WWW.SECURITYCU.ORG X CREDIT UNION 1955 MI WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 7 7 177 7 213774 0 0 0 25994636 27365054 1638734 1903953 0 0 27633370 29269007 0 0 0 0 9603431 10293771 0 0 0 13910826 14721590 23514257 25015361 4119113 4253646 601751923 624480675 555915107 583476701 45836816 41003974 WE ARE OUR MEMBERS' TRUSTED, SECURED FINANCIAL COOPERATIVE DEDICATED TO PROVIDING EXCEPTIONAL VALUE, PERSONALIZED SERVICE, AND CONVENIENCE. 0 0 PROVIDE 53,524 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, MONEY MARKET AND CERTIFICATE ACCOUNTS TOTALING 86,718. PROVIDE LOANS INCLUDING VEHICLE, BUSINESS, FIRST MORTGAGE, HOME EQUITY, LINE OF CREDIT, AND UNSECURED LOANS. OFFER AUTOMATED TELLER MACHINES, WIRE TRANSFERS, MONEY ORDERS, HOME BANKING, MOBILE BANKING, AND VARIOUS INSURANCE PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 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 4033 0 1 177 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 0 1 1 1 1 0 0 0 0 1 1 1 1 1 1 1 0 X THE ORGANIZATION 8102352322 5255 SECURITY PARK BLVD HOLLY MI 48442 JOHN TRUCHAN CHAIRMAN 2.00 X X 0 0 0 JOSEPH NIEDZWIECKI 1ST VICE CHAIRMAN 2.00 X X 0 0 0 DONALD HENRY 2ND VICE CHAIRMAN 2.00 X X 0 0 0 PHIL THICK TREASURER 2.00 X X 0 0 0 RICHARD HAZEL SECRETARY 2.00 X X 0 0 0 JESSIE COLLINS DIRECTOR 2.00 X 0 0 0 DON SORENSEN DIRECTOR 2.00 X 0 0 0 CHRISTOPHER ESTES PRESIDENT AND CEO 40.00 X 837825 0 216181 HEIDI SCHWARZ VP OF ACCOUNTING 40.00 X 155371 0 51593 JAY YAX SVP OPERATIONS AND COO 40.00 X 183785 0 79987 JOSEPH REGAN VP OF IT 40.00 X 134823 0 39196 SCOTT KNOPF VP OF LENDING/LOSS PREVENT 40.00 X 140133 0 36185 AMANDA SHERWOOD VP HR 40.00 X 121326 0 39665 KATIE KRANE VP SALES & SERVICE 40.00 X 104954 0 28983 WILLIAM HERRON EMPLOYEE 40.00 X 111261 0 32792 1789478 0 524582 8 0 1 0 JACK HENRY PO BOX 609 MONETT MO 65708 ELECTRONIC PROCESSING SERVICES 1589996 INFORMA BUSINESS SYSTEMS 5170 HARTSHORN DR FLUSHING MI 48443 ATM PROCESSING AND MAINTENANCE 652342 US SIGNAL CO LLC 201 IONIA AVE SW GRAND RAPIDS MI 49503 TELEPHONE SERVICE PROVIDER 463857 HARMON MANAGEMENT LLC 417 COPPERSMITH DR MASON MI 48854 CONSULTING 430545 CREDIT UNION NATIONAL ASSOCIATION PO BOX 78546 MILWAUKEE WI 53278 TRADE ASSOCIATION 329462 23 LOAN INTEREST INCOME 522100 19896190 19896190 FEE AND OTHER INCOME 522100 7255090 7255090 NON-MEMBER INSURANCE INCOME 524298 131530 131530 NON-MEMBER ATM INCOME 900099 82244 82244 27365054 1860708 1860708 1696191 708696 1781970 579672 -85779 129024 43245 43245 29269007 27151280 213774 1903953 1875080 5903928 265763 1670613 578387 24738 77417 70129 821313 4064644 646861 3410356 172368 56462 681187 295724 LOAN SERVICING 2264077 OTHER OPERATING EXPENSE 1408347 PROVISION FOR LOAN LOSS 624824 OPERATING FEE 103143 25015361 47494311 14530509 13821898 5780460 1368130 1318994 382069111 462236792 1168079 1163894 45545397 18646254 26243976 26899143 53735003 49018414 56917834 45480582 5227197 5335754 13706384 12716133 601751923 624480675 7470611 48508475 548444496 534968226 555915107 583476701 X 0 0 0 0 45836816 41003974 45836816 41003974 601751923 624480675 X 4253646 -9232600 146112 X X 0 1 X 1 0 8664603 8664603 19089241 6139212 12950029 3386520 2264882 1121638 13426807 10150321 3276486 978226 91839 886387 26899143 AFS SECURITIES 43003082 F OTHER SECURITIES 610000 C FED HOME LOAN BANK STOCK 1867500 C 45480582 MEMBERS SHARES AND DEPOSITS 534968226 534968226 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. X 1 1 X X 0 1 0 CHRISTOPHER ESTES PRESIDENT AND CEO 365558 0 172267 0 300000 0 196234 0 19947 0 1054006 0 300000 0 JAY YAX SVP OPERATIONS AND COO 162363 0 21422 0 0 0 60040 0 19947 0 263772 0 0 0 HEIDI SCHWARZ VP OF ACCOUNTING 122977 0 32394 0 0 0 30638 0 20955 0 206964 0 0 0 SCOTT KNOPF VP OF LENDING/LOSS PREVENT 122665 0 17468 0 0 0 15230 0 20955 0 176318 0 0 0 JOSEPH REGAN VP OF IT 122586 0 12237 0 0 0 19249 0 19947 0 174019 0 0 0 AMANDA SHERWOOD VP HR 111738 0 9588 0 0 0 18710 0 20955 0 160991 0 0 0 PART I, LINE 1A EACH BOARD AND COMMITTEE MEMBER IS ENTITLED TO HAVE THEIR SPOUSE ACCOMPANY THEM TO THE CONFERENCE. PART I, LINE 4B CHRISTOPHER ESTES, PRESIDENT/CEO PARTICIPATED IN A 457(F) NON-QUALIFIED PLAN WITH CERTAIN OTHER INDIVIDUALS THAT HAS A BALANCE ON DECEMBER 31, 2022 OF $10,297,324. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS CHANGED TO MOVE DATE OF ANNUAL MEETING. 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 MEMBERS OF THE GOVERNING BODY EACH YEAR AT THE ANNUAL MEETING. BOARD OF DIRECTORS MEMBERS ARE ELECTED FOR THREE YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS INTO ANOTHER INSTITUTION AND CHARTER CHANGES. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION HAS NO COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS COMPLETED BY THE VP OF ACCOUNTING PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UPON ELECTION OR APPOINTMENT, THE BOARD OF DIRECTORS SIGN AN OATH OF OFFICE THAT INCLUDES A CONLICT OF INTEREST STATEMENT. MANAGEMENT SIGNS A CONFLICT OF INTEREST POLICY ANNUALLY AND IS REVIEWED BY THE PRESIDENT/CEO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO PERFORMANCE AND APPROVES COMPENSATION. THIS IS DOCUMENTED IN THE MINUTES AND CREDIT UNION EXECUTIVE SOCIETY (CUES), AS WELL AS THE NATIONAL ASSOCIATION OF CREDIT UNION CHAIRMEN CEO SALARY SURVEY. THE PRESIDENT/CEO REVIEWS ALL EXECUTIVE COMPENSATION USING THE CREDIT UNION EXECUTIVE SOCIETY (CUES) GUIDE AND DOCUMENTATION IS RETAINED IN THEIR PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF EACH OFFICE. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN UNRECOGNIZED RETIREMENT COSTS 146,112. FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS.