2023-11-07T16:17:18-06:00 2022-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2022-01-01 381440283 DORT FINANCIAL CREDIT UNION DORT 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 BRIAN WALDRON PRESIDENT/CEO 8107678390 2023-11-06 1 BRIAN WALDRON 999009999 0 TINA PETERS P00904574 2483757100 2023-11-06 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRIAN WALDRON 9048 HOLLY ROAD GRAND BLANC MI 48439 84281644 0 X WWW.DORTONLINE.ORG X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 360 7 125649 5942 0 0 70205085 77434574 2749728 4714349 0 0 72954813 82148923 72702 75355 0 0 17563432 20607762 0 0 0 38246837 41623807 55882971 62306924 17071842 19841999 1382283793 1504357827 1190128510 1309505757 192155283 194852070 OPENING DOORS TO OUR MEMBERS BY PROVIDING QUALITY FINANCIAL SERVICES. 0 0 PROVIDE 104,884 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING $1,250,354,935. PROVIDE 87,199 LOANS INCLUDING VEHICLE, CREDIT CARD, HOME EQUITY, BUSINESS, PERSONAL, BOAT, MOTORCYCLE, MOTOR HOME, AND MORTGAGES. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28615 0 1 360 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 1 1 1 1 0 X JEREMY ZAGER CFO 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 WAYNE NATZKE CHAIRMAN OF THE BOARD 5.00 0.00 X X 0 0 0 DANA STODDARD FIRST VICE CHAIR 5.00 0.00 X X 0 0 0 DOUGLAS KIDD SECOND VICE CHAIR 5.00 0.00 X X 0 0 0 JEFF SELLS SECRETARY 5.00 0.00 X X 0 0 0 BRUCE ALLAN TREASURER 5.00 0.00 X X 0 0 0 DIANE PIERCY DIRECTOR 5.00 0.00 X 0 0 0 BEVERLY KITTLE DIRECTOR 5.00 0.00 X 0 0 0 BRIAN WALDRON PRESIDENT/CEO 50.00 0.00 X 452357 0 15709 VICKI HAWKINS PRESIDENT/CEO - PART YEAR 50.00 0.00 X 228896 0 30918 JEREMY ZAGER CFO 50.00 0.00 X 274105 0 45134 DEANA TURCOTT VP HUMAN RESOURCES 50.00 0.00 X 201088 0 37166 DANIEL GATFIELD VP OPERATIONS 50.00 0.00 X 208993 0 28168 MICHAEL ANDERSON VP INFORMATION SYSTEMS 50.00 0.00 X 201622 0 36647 SHARON LOBO VP LENDING 50.00 0.00 X 145188 0 5111 LAURA NESTOR DIRECTOR OF MARKETING - PART YEAR 50.00 0.00 X 131584 0 26037 DREW GOODRICH INVESTMENT ADVISOR 50.00 0.00 X 163751 0 32723 BRETT HUSTED NETWORK ADMINISTRATOR 50.00 0.00 X 138657 0 23361 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 50.00 0.00 X 149397 0 31973 2295638 0 312947 15 0 1 0 FIS 601 RIVERSIDE AVE JACKSONVILLE FL 32204 DATA PROCESSING 3233781 NCR 864 SPRING STREET ATLANTA GA 30308 TECHNOLOGY 1943893 VISA USA PO BOX 742233 LOS ANGELES CA 90074 DATA PROCESSING 1351333 TRACE3 LLC PO BOX 603915 CHARLOTTE NC 28260 TECHNOLOGY 827048 FISERV PO BOX 967057 ATLANTA GA 31193 DATA PROCESSING 732810 41 MEMBER LOAN INCOME 522100 54074999 54074999 FEE/OTHER INCOME 524298 23359575 23233926 125649 77434574 4807052 4807052 1641180 398838 1877889 254832 -236709 144006 -92703 -92703 82148923 82115977 125649 -92703 60355 15000 1760803 14128889 1034007 2399422 1284641 414205 309853 1205841 2579730 3849672 3838841 2177083 614837 8391947 3042166 410436 INCOME TAX EXPENSE -1814 CARD PROCESSING 5373522 LOAN SERVICING 4253656 PROVISION FOR LOAN LOSS 3124581 2039251 62306924 194618849 37126453 1433511 1316618 938525880 1167541602 10151536 11969359 49070504 19924892 28751193 29145612 76079549 112080208 117656836 128135935 15066439 17042040 1382283793 1504357827 12350437 18860423 1783869 2023416 30500000 38266980 1145494204 1250354938 1190128510 1309505757 X 7340206 0 0 0 184815077 194852070 192155283 194852070 1382283793 1504357827 X 19841999 -18780376 1635164 X X 0 1 X 1 0 0 1 X 4545373 4545373 22363760 4686924 17676836 324290 324290 0 19387818 14913678 4474140 2449263 2449263 29145612 MORTGAGE BACKED SECURITIES 43611083 F COLLATERALIZED MORTGAGE OBLIGATIONS 57626419 F SMALL BUSINESS ADMINISTRATION SECURITIES 2227170 F REDEEMABLE CORPORATE PREFERRED STOCK 12500171 F CORPORATE BONDS 9696092 F FEDERAL HOME LOAN BANK STOCK 2475000 F 128135935 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1198727938 NONMEMBER CERTIFICATES OF DEPOSIT 51627000 1250354938 82023650 -125273 -125273 82148923 0 82148923 62181651 0 62181651 125273 125273 62306924 PART IV, LINE 2B: CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN ON REPOSESSION OF ASSETS -120,476. GAIN ON DISPOSITION OF ASSETS -4,797. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON REPOSSESSION OF ASSETS 120,476. GAIN ON DISPOSITION OF ASSETS 4,797. 1 HURLEY FOUNDATION 1 HURLEY PLAZA FLINT MI 48503 383085047 501(C)(3) 20410 0 COMMUNITY PARTNERSHIP 1 0 SCHOLARSHIPS 15 15000 PART I, LINE 2: DORT FINANCIAL AWARDS SCHOLARSHIPS TO FIFTEEN (15) MEMBERS WHO ARE PURSUING SECONDARY EDUCATION BASED UPON AN APPLICATION AND REVIEW PROCESS. X 1 1 X X X X 0 0 0 BRIAN WALDRON PRESIDENT/CEO 371077 0 20000 0 61280 0 0 0 15709 0 468066 0 0 0 JEREMY ZAGER CFO 256537 0 10006 0 7562 0 26449 0 18685 0 319239 0 0 0 VICKI HAWKINS PRESIDENT/CEO - PART YEAR 124385 0 65780 0 38731 0 11543 0 19375 0 259814 0 0 0 MICHAEL ANDERSON VP INFORMATION SYSTEMS 182423 0 7430 0 11769 0 18808 0 17839 0 238269 0 0 0 DEANA TURCOTT VP HUMAN RESOURCES 186823 0 7569 0 6696 0 19261 0 17905 0 238254 0 0 0 DANIEL GATFIELD VP OPERATIONS 191900 0 7901 0 9192 0 10190 0 17978 0 237161 0 0 0 DREW GOODRICH INVESTMENT ADVISOR 48693 0 10066 0 104992 0 16180 0 16543 0 196474 0 0 0 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 143395 0 5560 0 442 0 15132 0 16841 0 181370 0 0 0 BRETT HUSTED NETWORK ADMINISTRATOR 126700 0 5934 0 6023 0 11767 0 11594 0 162018 0 0 0 LAURA NESTOR DIRECTOR OF MARKETING - PART YEAR 116976 0 6090 0 8518 0 12688 0 13349 0 157621 0 0 0 SHARON LOBO VP LENDING 137538 0 150 0 7500 0 0 0 5111 0 150299 0 0 0 PART I, LINE 1A TRAVEL FOR VOLUNTEERS AND SENIOR MANAGEMENT IS TREATED AS TAXABLE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO REVIEW THE COMPLETED FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE COMPLETED ANNUALLY AND ANSWERS ARE REVIEWED BY HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A 3RD PARTY SOFTWARE (COMPEASE) TO SET SALARIES VIA PAY GRADES FOR ALL POSITIONS IN THE CREDIT UNION. INFORMATION IS PROVIDED INDEPENDENTLY BY A 3RD PARTY, IS UPDATED ANNUALLY IN THE 3RD OR 4TH QUARTER OF EVERY YEAR, AND IS IMPLEMENTED IN APRIL OF THE FOLLOWING YEAR. ALL PAY GRADES ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2022. FORM 990, PART VI, SECTION C, LINE 19 CREDIT UNION BYLAWS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF ALL CREDIT UNION BRANCH LOCATIONS WHICH ARE ACCESSIBLE TO THE GENERAL PUBLIC. THE QUARTERLY FINANCIAL PERFORMANCE REPORTS ARE ALSO AVAILABLE AT WWW.NCUA.GOV. FORM 990, PART XI, LINE 9: POSTRETIREMENT BENEFIT PLAN 1,635,164. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.