CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-0855535)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-11
- IRS object ID
- 202223159349302152
- Schema version
- 2021v4.2
- 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 | 2022-11-11T08:40:19-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 381357951 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 750 TRADE CENTRE WAY STE 300 | AddressLine1Txt |
| City | PORTAGE | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49002 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 380855535 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ADVENTURE CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ADVE | BusinessNameControlTxt |
| Phone | 6162430125 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 630 32ND STREET SE | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49548 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JERRY MAUE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6162430125 | PhoneNum |
| Signature | 2022-11-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JERRY | PersonFirstNm |
| Person Last | MAUE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KENLEY PENNER | PreparerPersonNm |
| PTIN | P00740260 | PTIN |
| Phone | 2695674500 | PhoneNum |
| Preparation | 2022-11-04 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JERRY MAUE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 630 32ND STREET SE | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49548 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $20,803,881 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1359 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ADVENTURECU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1936 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | ADVENTURE CREDIT UNION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS. ITS MEMBERS INCLUDE INDIVIDUALS WHO ARE EMPLOYED IN OR RETIRED FROM COMMUNICATIONS RELATED ORGANIZATIONS, THE HEALTH CARE INDUSTRY, DISABLED OR WORK WITH THE DISABLED, AND OTHER SELECT EMPLOYEE GROUPS OR THOSE WHO LIVE OR WORK IN ALLEGAN, BARRY, CLINTON, EATON, INGHAM, KENT, LIVINGSTON, NEWAYGO, OTTAWA OR SHIAWASSEE COUNTIES IN MICHIGAN. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 151 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $17,784 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $19,945,337 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $20,142,489 | CYProgramServiceRevenueAmt |
| PY Investment Income | $362,634 | PYInvestmentIncomeAmt |
| CY Investment Income | $491,421 | CYInvestmentIncomeAmt |
| PY Other Revenue | $364,672 | PYOtherRevenueAmt |
| CY Other Revenue | $149,014 | CYOtherRevenueAmt |
| PY Total Revenue | $20,672,643 | PYTotalRevenueAmt |
| CY Total Revenue | $20,782,924 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $7,339,872 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,814,066 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,110,924 | PYOtherExpensesAmt |
| CY Other Expenses | $10,025,582 | CYOtherExpensesAmt |
| PY Total Expenses | $17,450,796 | PYTotalExpensesAmt |
| CY Total Expenses | $17,839,648 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,221,847 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,943,276 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $415,888,601 | TotalAssetsBOYAmt |
| Total Assets EOY | $438,784,059 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $363,887,264 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $384,355,790 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $52,001,337 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $54,428,269 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO PROVIDE FINANCIAL SERVICES WHILE TREATING MEMBERS WITH DIGNITY AND RESPECT, ACTING AS A GOOD STEWARD OF OUR MEMBERS' ASSETS, VALUING OUR EMPLOYEES AND VOLUNTEERS, MAINTAINING HIGH LEVELS OF INTEGRITY IN EVERYTHING WE DO, AND BEING A LEADER IN COMMUNITY OUTREACH AND BUILDING COMMUNITY RELATIONSHIPS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ADVENTURE CREDIT UNION SERVED AND CONTINUES TO SERVE THE FINANCIAL NEEDS OF 30,679 MEMBERS BY OFFERING LOANS, DEPOSITS AND VARIOUS OTHER FINANCIAL PRODUCTS. | Desc |
| 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 | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 8016 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 151 | 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 | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | 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 | Yes (1) | 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
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEROME MAUE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6162430125 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 630 32ND STREET SE | AddressLine1Txt |
| City | GRAND RAPIDS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49548 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| ANN MARIE NELSON | ||||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | 0.00 | Yes (X) | $293,806 | $0 | $20,383 | ||
| JAMES BIRD | ||||||||
| ARIS FINANCIAL MANAGER | 40.00 | 0.00 | $206,127 | $0 | $9,727 | Yes (X) | ||
| JEROME MAUE | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | 0.00 | Yes (X) | $154,407 | $0 | $14,906 | ||
| AMANDA GARABEDIAN | ||||||||
| CHIEF OPERATING OFFICER | 40.00 | 0.00 | $133,301 | $0 | $20,222 | Yes (X) | ||
| LISA POSTHUMUS | ||||||||
| CHIEF LENDING OFFICER | 40.00 | 0.00 | $102,528 | $0 | $11,047 | Yes (X) | ||
| DAVE FERGUSON | ||||||||
| BOARD CHAIRMAN | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| PETE WINNINGER | ||||||||
| BOARD VICE CHAIRMAN | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| RYAN SHEFFER | ||||||||
| TREASURER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| DAVE KIDD | ||||||||
| SECRETARY | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| PATRICIA ANDREWS | ||||||||
| BOARD MEMBER | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CHARLIE BRENEMAN | ||||||||
| BOARD MEMBER | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| ROGER FRY | ||||||||
| BOARD MEMBER | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| DEBRA GINSBURG | ||||||||
| BOARD MEMBER | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| MICHAEL KUTAS | ||||||||
| BOARD MEMBER | 1.00 | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $890,169 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $76,285 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | 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 |
|---|---|---|---|---|---|
| JACK HENRY AND ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | CORE AND ANCILLARY SOFTWARE | $403,235 |
| ARKATECHTURE | |||||
| PO BOX 678 | PORTLAND | ME | 04101 | ARKALYTICS | $261,813 |
| TRACE3 | |||||
| PO BOX 603915 | CHARLOTTE | NC | 282603915 | IT CONSULTING/TECHNOLOGY | $246,655 |
| BUSINESS DATA INC | |||||
| PO BOX 6081 | INGLEWOOD | CA | 90312 | STATEMENT AND E STATEMENT MAILING | $221,832 |
| CITY OF WYOMING | |||||
| 1155 28TH STREET SW | WYOMING | MI | 49509 | CITY - GOVERNMENT | $208,788 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $13,871,904 | $13,871,904 | |
| FEES AND CHARGES | 522100 | $5,759,862 | $5,742,078 | $17,784 |
| SALE OF MORTGAGES | 522100 | $510,723 | $510,723 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $20,142,489 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $371,421 | TotalRevenueColumnAmt |
| Exclusion | $371,421 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $140,957 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $20,957 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $120,000 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $120,000 | TotalRevenueColumnAmt |
| Exclusion | $120,000 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MORTGAGE SERVICING FEE | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $149,014 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $149,014 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $149,014 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $20,782,924 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $20,273,719 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $17,784 | UnrelatedBusinessRevenueAmt |
| Exclusion | $491,421 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $750,601 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,609,051 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $256,157 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $707,367 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $490,890 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,775 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $202,606 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,926 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $252,286 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,923 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,597,018 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $786,531 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,073 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $162,654 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,011 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $589,455 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,054 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| CREDIT AND DEBIT CARD F | $1,976,507 |
| INTEREST PAID ON MEMBER | $1,577,813 |
| LOAN SERVICING EXPENSE | $1,290,462 |
| PROVISION FOR LOAN LOSS | $144,026 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $895,462 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,839,648 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,113,449 | BOYAmt |
| EOY | $2,803,634 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,505,233 | BOYAmt |
| EOY | $47,096,486 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $290,299,023 | BOYAmt |
| EOY | $297,330,465 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $738,959 | BOYAmt |
| EOY | $870,598 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $19,884,756 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,876,614 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,417,755 | BOYAmt |
| EOY | $8,008,142 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,663,939 | BOYAmt |
| EOY | $60,260,672 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,150,243 | BOYAmt |
| EOY | $22,414,062 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $415,888,601 | BOYAmt |
| EOY | $438,784,059 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,794,173 | BOYAmt |
| EOY | $2,452,932 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,954,291 | BOYAmt |
| EOY | $1,744,097 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,000,000 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $346,138,800 | BOYAmt |
| EOY | $380,158,761 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $363,887,264 | BOYAmt |
| EOY | $384,355,790 | 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 | $52,001,337 | BOYAmt |
| EOY | $54,428,269 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,001,337 | BOYAmt |
| EOY | $54,428,269 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $415,888,601 | BOYAmt |
| EOY | $438,784,059 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,943,276 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$679,604 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $163,260 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| 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 | $1,655,488 | OtherCostOrOtherBasisAmt |
| Book Value | $1,655,488 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,522,340 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,185,179 | DepreciationAmt |
| Book Value | $5,337,161 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,706,928 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,691,435 | DepreciationAmt |
| Book Value | $1,015,493 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $8,008,142 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| FHLB STOCK | $1,575,000 |
| NCUSIF DEPOSIT | $3,639,823 |
| OTHER ASSETS | $1,842,909 |
| ALLOYA PERPETUAL CONTRIBUTED CAPITAL | $600,000 |
| CREDIT UNION OWNED LIFE INSURANCE POLICY | $10,036,141 |
| ACCRUED INTEREST RECEIVABLE | $919,289 |
| DEFERRED COMPENSATION ASSET | $3,800,900 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $22,414,062 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBERS' SHARES AND SAVINGS | Desc |
| Amt | $380,158,761 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $380,158,761 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $20,266,580 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$679,604 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $163,260 | OtherRevenueAmt |
| Revenue Not Reported | -$516,344 | RevenueNotReportedAmt |
| Revenue Subtotal | $20,782,924 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $20,782,924 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $17,839,648 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $17,839,648 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $17,839,648 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS AMOUNTS IN ESCROW ACCOUNTS FOR REAL ESTATE TAXES AND HOME INSURANCE RELATED TO HOME MORTGAGE LOANS. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CREDIT UNION AND RECOGNIZE A TAX LIABILITY IF THE CREDIT UNION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2021 AND 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CREDIT UNION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF CREDIT UNION-OWNED LIFE INSURANCE 156,635. UNREALIZED LOSS ON POSTRETIREMENT AND PENSION BENEFITS 6,625. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANN MARIE NELSON | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $268,224 | $0 | $13,582 | $0 | $12,000 | $0 | $7,590 | $0 | $12,793 | $0 | $314,189 | $0 | $0 | $0 |
| JAMES BIRD | ||||||||||||||
| ARIS FINANCIAL MANAGER | $67,210 | $0 | $10,635 | $0 | $128,282 | $0 | $6,145 | $0 | $3,582 | $0 | $215,854 | $0 | $0 | $0 |
| JEROME MAUE | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $145,545 | $0 | $8,862 | $0 | $0 | $0 | $0 | $0 | $14,906 | $0 | $169,313 | $0 | $0 | $0 |
| AMANDA GARABEDIAN | ||||||||||||||
| CHIEF OPERATING OFFICER | $125,842 | $0 | $7,459 | $0 | $0 | $0 | $4,124 | $0 | $16,098 | $0 | $153,523 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION UTILIZES AN INDEPENDENT COMPENSATION CONSULTANT IN DETERMINING WAGES FOR ALL OF THE POSITIONS WITHIN THE ORGANIZATION. THE INFORMATION PROVIDED BY THE CONSULTANT IS USED TO ESTABLISH PAY RANGES FOR NEW POSITIONS AS WELL AS ADJUST ESTABLISHED PAY RANGES FOR CHANGES IN THE MARKET. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION CURRENTLY HAS 30,679 MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE CREDIT UNION ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS OF THE CREDIT UNION MUST APPROVE MERGERS INTO ANOTHER CREDIT UNION. ALL OTHER DECISIONS MAY BE MADE BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CEO AND CFO OF THE CREDIT UNION REVIEW THE 990 DRAFT BEFORE FILING. ADDITIONALLY, AN ELECTRONIC COPY OF THE 990 IS AVAILABLE TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. ALL OF THE BOARD MEMBERS ARE GIVEN THE OPPORTUNITY TO CONTACT THE CREDIT UNION'S MANAGEMENT WITH ANY QUESTIONS OR CONCERNS THEY HAD REGARDING THE 990 RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS, AND EMPLOYEES OF THE CREDIT UNION COMPLETE A CONFLICT OF INTEREST POLICY QUESTIONNAIRE. THE CONFLICT OF INTEREST QUESTIONNAIRES ARE THEN REVIEWED BY SHANNON VAN MALSEN, COMPLIANCE OFFICER, FOR POTENTIAL CONFLICTS. IF AN ACTUAL CONFLICT OF INTEREST IS IDENTIFIED, THE DIRECTOR WILL ABSTAIN FROM VOTING ON THE ISSUE AT HAND. |
| FORM 990, PART VI, SECTION B, LINE 15 | SALARIES FOR THE CEO, OFFICERS, AND KEY EMPLOYEES ARE COMPARED TO THOSE REPORTED IN VARIOUS PUBLICATIONS FOR SIMILAR ORGANIZATIONS IN THE INDUSTRY AND MAY BE ADJUSTED FOR AN EMPLOYEE'S PERFORMANCE. COMPENSATION FOR THE CEO, OFFICERS, AND KEY EMPLOYEES ARE THEN DETERMINED, REVIEWED BY AN INDEPENDENT PARTY, AND APPROVED BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2021. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE MONTHLY FINANCIAL STATEMENTS OF THE CREDIT UNION ARE POSTED IN THE LOBBY OF EACH BRANCH. OTHER INFORMATION SUCH AS THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | UNREALIZED LOSS ON POSTRETIREMENT AND PENSION BENEFITS 6,625. CHANGE IN VALUE OF CREDIT UNION-OWNED LIFE INSURANCE 156,635. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS HAS ESTABLISHED THE AUDIT COMMITTEE, WHICH IS RESPONSIBLE FOR THE OVERSIGHT OF ALL EXAMINATIONS AND AUDITS AND SELECTION OF AN INDEPENDENT AUDITOR. THE AUDIT COMMITTEE APPROVES AN INDEPENDENT AUDITOR(S) EACH YEAR AND MEETS TO REVIEW EXAMINATION REPORTS AND AUDITOR'S REPORTS. |
| FORM 990, PART X, LINE 5 AND SCHEDULE L: | SCHEDULE L IS NOT REQUIRED FOR LOANS RECEIVABLE BALANCES ON FORM 990, PART X, LINE 5 IF THE LOANS ARE MADE BY THE CREDIT UNION TO THE DIRECTORS, OFFICERS, AND KEY EMPLOYEES ON THE SAME TERMS OFFERED TO OTHER MEMBERS OF THE CREDIT UNION. THEREFORE, THE CREDIT UNION HAS INCLUDED $1,365,428 AND $1,414,331 OF RECEIVABLES FROM CURRENT OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES FOR 2021 AND 2020, RESPECTIVELY, WITHIN FORM 990, PART X, LINE 7. |