CREDIT UNIONS CHARTERED IN THE STATE OF: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: CREDIT UNIONS CHARTERED IN THE STATE OF (EIN 38-1876197)
Tax period: 2024-01-01 to 2024-10-31
Filed: 2025-08-04
IRS object ID: 202512169349301341
Schema version: 2024v5.2
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
Form 990
Schedule N
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2025-08-04T15:34:48-05:00	ReturnTs
Tax Period End	2024-10-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	994260840	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	8785 SW 165TH AVENUE SUITE 303	AddressLine1Txt
City	MIAMI	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	33193	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2024-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	381876197	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CREDIT UNIONS CHARTERED IN THE STATE OF	BusinessNameLine1Txt
Business Name Line2	MICHIGAN 1142 TEAMSTERS CREDIT UNION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	CRED	BusinessNameControlTxt
Phone	3139624666	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2825 TRUMBULL ST	AddressLine1Txt
City	DETROIT	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48216	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	SUE POSTEMSKI	PersonNm
Person Title	CHIEF DATA ANALYTICS OFFICER	PersonTitleTxt
Phone	3139624666	PhoneNum
Signature	2025-08-04	SignatureDt

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	AUBREY CLEGG	PreparerPersonNm
PTIN	P01076395	PTIN
Phone	3052328272	PhoneNum

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Final Return	Yes (X)	FinalReturnInd

Doing Business As Name DoingBusinessAsName

Field	Value	IRS element (for citing)
Business Name Line1	TEAMSTERS CREDIT UNION	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Principal Officer	JENNIFER BOROWY	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	27000 EVERGREEN ROAD	AddressLine1Txt
City	LATHRUP VILLAGE	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48076	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$627,442	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	TEAMSTERSCREDITUNION.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1968	FormationYr
Legal Domicile State	MI	LegalDomicileStateCd
Activity Or Mission	OUR SOLE MISSION IS TO PROVIDE THE HIGHEST QUALITY MEMBER EXPERIENCE. WE ARE PRIVILEGED TO TRANSFORM LIVES BY PROVIDING UNIQUE AND PERSONALIZED FINANCIAL SOLUTIONS FOR OUR MEMBERS. WE WILL ANTICIPATE NEEDS, EXCEED EXPECTATIONS, AND MAKE A POSITIVE LASTING IMPRESSION WITH EVERY MEMBER, EVERY TIME.	ActivityOrMissionDesc
Contract Termination	Yes (X)	ContractTerminationInd
Voting Members Governing Body	6	VotingMembersGoverningBodyCnt
Voting Members Independent	6	VotingMembersIndependentCnt
Total Employee	2	TotalEmployeeCnt
Total Volunteers	6	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$616,777	PYProgramServiceRevenueAmt
CY Program Service Revenue	$505,448	CYProgramServiceRevenueAmt
PY Investment Income	$155,036	PYInvestmentIncomeAmt
CY Investment Income	$121,994	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$771,813	PYTotalRevenueAmt
CY Total Revenue	$627,442	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	$336,621	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$48,784	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$756,603	PYOtherExpensesAmt
CY Other Expenses	$1,032,164	CYOtherExpensesAmt
PY Total Expenses	$1,093,224	PYTotalExpensesAmt
CY Total Expenses	$1,080,948	CYTotalExpensesAmt
PY Revenues Less Expenses	-$321,411	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$453,506	CYRevenuesLessExpensesAmt
Total Assets BOY	$15,894,947	TotalAssetsBOYAmt
Total Assets EOY	$0	TotalAssetsEOYAmt
Total Liabilities BOY	$14,441,206	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$0	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$1,453,741	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$0	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	WE ARE DESIGNED TO ASSIST OUR COMMUNITY WITH FINANCIAL SOLUTIONS WHILE IMPROVING THE COMMUNITY.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	Yes (1)	SignificantChangeInd
Desc	ORIGINATED $479,000 OF CONSUMER LOANS IN 2024.	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	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	0	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	0	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	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	0	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	Yes (1)	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	185	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	2	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
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	6	GoverningBodyVotingMembersCnt
Independent Voting Member	6	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	Yes (1)	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	0	CompensationProcessCEOInd
Compensation Process Other	0	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	JANET BARDEN	PersonNm
Phone	2487276715	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	27000 EVERGEEN ROAD	AddressLine1Txt
City	LATHRUP VILLAGE	CityNm
State Abbreviation	MI	StateAbbreviationCd
ZIP	48076	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
LARRY FREEMAN
CHAIRPERSON	1.00	Yes (X)	$0	$0	$0
ALEX YOUNG
VICE CHAIRPERSON	1.00	Yes (X)	$0	$0	$0
JOE VALENTI JR
BOARD SECRETARY	1.00	Yes (X)	$0	$0	$0
PAUL KOZICKI
BOARD MEMBER	1.00	Yes (X)	$0	$0	$0
KENNETH KWAPISZ
BOARD MEMBER	1.00	Yes (X)	$0	$0	$0
STEVE HICKS
BOARD MEMBER	1.00	Yes (X)	$0	$0	$0

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$0	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$0	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	0	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	FISERV	BusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 934057	AddressLine1Txt
City	ATLANTA	CityNm
State Abbreviation	GA	StateAbbreviationCd
ZIP	31193	ZIPCd

Field	Value	IRS element (for citing)
Services	SOFTWARE	ServicesDesc
Compensation	$126,878	CompensationAmt

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	1	CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
INTEREST ON LOANS	522100	$316,085	$316,085
FEES, CHARGES, OTHER	522100	$189,363	$189,363

Field	Value	IRS element (for citing)
Total Program Service Revenue	$505,448	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$121,994	TotalRevenueColumnAmt
Related Or Exempt Func Income	$121,994	RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$627,442	TotalRevenueColumnAmt
Related Or Exempt Func Income	$627,442	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$24,453	TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$1,482	TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$12,251	TotalAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$10,598	TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$23,211	TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$4,329	TotalAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$132,213	TotalAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$394	TotalAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$177,140	TotalAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$68,171	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$5,959	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$28,156	TotalAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDesc	TotalTotalAmt
PROVISION FOR LOAN LOSS	$429,489
LOAN SERVICING	$96,654
MISCELLANEOUS	$66,448

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,080,948	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$126,864	BOYAmt
EOY	$0	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$4,555,406	BOYAmt
EOY	$0	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$4,785,407	BOYAmt
EOY	$0	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$26,545	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$0	LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$113,945	BOYAmt
EOY	$0	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$3,500,000	BOYAmt
EOY	$0	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$2,547,100	BOYAmt
EOY	$0	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Intangible Assets IntangibleAssetsGrp

Field	Value	IRS element (for citing)
EOY	$0	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$239,680	BOYAmt
EOY	$0	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$15,894,947	BOYAmt
EOY	$0	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$64,964	BOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$14,376,242	BOYAmt
EOY	$0	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$14,441,206	BOYAmt
EOY	$0	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	$1,453,741	BOYAmt
EOY	$0	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$1,453,741	BOYAmt
EOY	$0	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$15,894,947	BOYAmt
EOY	$0	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$453,506	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	-$1,000,235	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule N IRS990ScheduleN

Liquidation Of Assets Table LiquidationOfAssetsTableGrp

Liquidation Of Assets Detail LiquidationOfAssetsDetail (5 entries)

Assets Distri Or Expnss PaidAssetsDistriOrExpnssPaidDesc	DistributionDistributionDt	Fair Market Value Of AssetFairMarketValueOfAssetAmt	Method Of FMV DeterminationMethodOfFMVDeterminationTxt	EINEIN	Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	IRC SectionIRCSectionTxt
MICHIGAN FIRST CREDIT UNION
CASH AND CASH EQUIVALENTS	2024-10-31	$3,352,308	INDEPENDENT THIRD-PARTY VALUATION	380481580	27000 EVERGREEN ROAD	LATHRUP VILLAGE	MI	48076	501(C)(14)
MICHIGAN FIRST CREDIT UNION
LOANS TO MEMBERS, NET OF ALLOWANCE FOR CREDIT LOSSES	2024-10-31	$3,764,739	INDEPENDENT THIRD-PARTY VALUATION	380481580	27000 EVERGREEN ROAD	LATHRUP VILLAGE	MI	48076	501(C)(14)
MICHIGAN FIRST CREDIT UNION
PROPERTY AND EQUIPMENT	2024-10-31	$550,000	INDEPENDENT THIRD-PARTY VALUATION	380481580	27000 EVERGREEN ROAD	LATHRUP VILLAGE	MI	48076	501(C)(14)
MICHIGAN FIRST CREDIT UNION
OTHER ASSETS	2024-10-31	$683,008	INDEPENDENT THIRD-PARTY VALUATION	380481580	27000 EVERGREEN ROAD	LATHRUP VILLAGE	MI	48076	501(C)(14)
MICHIGAN FIRST CREDIT UNION
INVESTMENT SECURITIES	2024-10-31	$5,527,034	INDEPENDENT THIRD-PARTY VALUATION	380481580	27000 EVERGREEN ROAD	LATHRUP VILLAGE	MI	48076	501(C)(14)

Field	Value	IRS element (for citing)
Director Of Successor	Yes (1)	DirectorOfSuccessorInd
Employee Of Successor	0	EmployeeOfSuccessorInd
Owner Of Successor	0	OwnerOfSuccessorInd
Receive Compensation	0	ReceiveCompensationInd
Assets Distributed	Yes (1)	AssetsDistributedInd
Required To Notify AG	Yes (1)	RequiredToNotifyAGInd
Attorney General Notified	Yes (1)	AttorneyGeneralNotifiedInd
Liabilities Paid	Yes (1)	LiabilitiesPaidInd
Bonds Outstanding	0	BondsOutstandingInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART I, LINE 2E:	PERSON(S) INVOLVED: LARRY FREEMAN
PART I, LINE 2E:	EXPLANATION OF INVOLVEMENT: LARRY FREEMAN WAS THE BOARD CHAIRPERSON OF TEAMSTERS CREDIT UNION AND BECAME A BOARD MEMBER FOR MICHIGAN FIRST CREDIT UNION.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (10 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART III, LINE 3	TEAMSTERS CREDIT UNION MERGED ITS ASSETS INTO MICHIGAN FIRST CREDIT UNION EFFECTIVE NOVEMBER 1, 2024. CREDIT UNION DEPOSIT AND LENDING SERVICES FOR THE FORMER MEMBERS WILL CONTINUE UNDER MICHIGAN FIRST CREDIT UNION.
FORM 990, PART VI, SECTION A, LINE 4	TEAMSTERS CREDIT UNION MERGED ITS ASSETS INTO MICHIGAN FIRST CREDIT UNION EFFECTIVE NOVEMBER 1, 2024. CREDIT UNION DEPOSIT AND LENDING SERVICES FOR THE FORMER MEMBERS WILL CONTINUE UNDER MICHIGAN FIRST CREDIT UNION.
FORM 990, PART VI, SECTION A, LINE 6	ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A	MEMBERS CAN ELECT BOARD MEMBERS OF THE GOVERNING BODY.
FORM 990, PART VI, SECTION A, LINE 7B	ANY MAJOR DECISION INVOLVING THE CONVERSION OR MERGER MUST BE APPROVED BY THE MEMBERS. DURING 2024, TEAMSTERS CREDIT UNION MEMBERS VOTED ON BECOMING PART OF MICHIGAN FIRST CREDIT UNION.
FORM 990, PART VI, SECTION B, LINE 11B	THE CFO AND CHIEF DATA ANALYTICS OFFICER OF MICHIGAN FIRST CREDIT UNION ARE RESPONSIBLE FOR THE COMPLETION AND REVIEW OF THE FORM 990 BEFORE FILING WITH THE IRS. THE ORGANIZATION DOES NOT PROVIDE A COPY OF FORM 990 TO THE GOVERNING BODY PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	ALL EMPLOYEES ARE REQUIRED TO ACKNOWLEDGE AND ADHERE TO A FORMAL CODE OF CONDUCT WHICH INCLUDES CONFLICT OF INTEREST.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART IX, LINE 11G	OTHER PROFESSIONAL SERVICES 132,213.
FORM 990, PART XI, LINE 9:	BOOK VALUE OF NET ASSETS (INCLUSIVE OF MEMBER DEPOSITS) TRANSFERRED TO MICHIGAN FIRST CREDIT UNION AS A RESULT OF A MERGER. -1,000,235.