2021-11-15T13:19:02-06:00 2020-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2020-01-01 380960035 CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION CRED 8772432528 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 KELLI WISNER-FRANK CFO 8772432528 2021-11-15 1 KELLI WISNER-FRANK 999009999 JOSEPH ZITO CPA P00648440 2482443000 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 67940068 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. WE RECOGNIZE FOUR MAIN CORE VALUES THAT WE STRIVE TO DELIVER WITH EVERY EXPERIENCE: COMMITTED, CHARITABLE, CREDIBLE, AND UNITED. 11 11 396 11 799891 0 0 0 59601381 60131986 2884498 3103725 2067560 4704357 64553439 67940068 52808 229119 0 0 25266475 27530223 0 0 0 31810244 31620790 57129527 59380132 7423912 8559936 1163543549 1397314880 1043387690 1267294933 120155859 130019947 X WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE. 1 0 LOANS DEPOSIT ACCOUNTS DEBIT CARD SERVICES 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 1 44027 0 1 396 1 1 1 0 0 0 0 0 1 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KELLI WISNER-FRANK 8772432528 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 ROBERT BIGA SECRETARY 1.00 X 0 0 0 BRIAN WILSON CHAIRPERSON 1.00 X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 THOMAS COOK DIRECTOR 1.00 X 0 0 0 KATHLEEN BONUTTI DIRECTOR 1.00 X 0 0 0 TIMOTHY CROSSON VICE CHAIRPERSON 1.00 X 0 0 0 MICHAEL PALAZZOLO TREASURER 1.00 X 0 0 0 CHERYL MARKS DIRECTOR 1.00 X 0 0 0 VICTOR MARSHALL DIRECTOR 1.00 X 0 0 0 TAMARA PERRY DIRECTOR 1.00 X 0 0 0 TIMOTHY WELCER DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 1078350 0 65084 KELLI WISNER-FRANK CFO 40.00 X 445001 0 55179 DANIEL MUNRO COO/EVP 40.00 X 568063 0 65111 BRIAN WILSON VP OF RETAIL DELIVERY 40.00 X 179109 0 26794 TERESA MAYER CLO 40.00 X 291363 0 37159 DONNA SIEJUTT CHRO 40.00 X 245454 0 36692 JENNIFER LYNN HURREN VP E-COMMERCE 40.00 X 185664 0 20621 JEFFREY DUBEY VP RISK MANAGEMENT 40.00 X 208261 0 23044 JENNY LUDWIGSEN VP MARKETING 40.00 X 172127 0 20690 CARLINGTON BUCKNOR VP OF TECHNOLOGY 40.00 X 180108 0 22006 WENDI DIACONO WEALTH ADVISOR 40.00 X 202675 0 29256 SUSAN SETERA AVP BUSINESS SYSTEMS 40.00 X 169864 0 22635 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 40.00 X 255042 0 8344 BRENT LOWELL BUSINESS RELATIONSHIP MANA 40.00 X 183581 0 33393 JONATHAN COUSINS MORTGAGE & BUSINESS CONSULTANT 40.00 X 170901 0 12015 4535563 0 478023 26 0 1 0 MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE RD FARMINGTON HILLS MI 48334 SOFTWARE/TECHNOLOGY SERVICES 2680244 Q2 SOFTWARE PO BOX 205970 DALLAS TX 75320 ONLINE WEB SERVICES 700487 CU ENGAGE 450 CARILLON PKWY STE 130 ST PETERSBURG FL 33716 CONSULTING 694221 DOLPHIN DEBIT 18 AUGUSTA PINES DRIVE SPRING TX 77389 ATM FLEET SERVICES 371017 BELANGER MAINTENANCE 5467 ROBERTS RD COTTREVILLE MI 48039 FACILITIES MAINTENANCE 314564 28 MEMBER LOANS 522100 43068824 43068824 FEES, CHARGES, AND OTHER 522100 17063162 17063162 60131986 3103725 3103725 522103 0 522103 522103 522103 GAIN FROM CUSO 522100 3382363 3382363 FINANCE AND INSURANCE 520000 799891 799891 4182254 67940068 67140177 799891 0 X 229119 3925880 18694207 803127 2626149 1480860 310404 333632 90798 1527324 3260636 1458378 976830 102068 5126945 91696 2337449 231275 DEBIT/CREDIT EXPENSES 4079907 PROVISION FOR LOAN LOSS 3330763 MAINTENANCE 2744803 LOAN SERVICING 2641660 2976222 59380132 19098385 16099335 24398823 54125281 6096028 8325161 9831096 10115018 944734550 973815602 1866217 2156172 62241194 24657629 36230761 37583565 59156718 220608602 28955545 22873648 1340376 832124 31835050 50780372 1163543549 1397314880 12811955 15445815 34750000 32750000 995825735 1219099118 1043387690 1267294933 X 0 0 0 0 120155859 130019947 120155859 130019947 1163543549 1397314880 X 8559936 1484599 -180447 X X 0 1 X 1 0 10460789 10460789 37518853 12590313 24928540 180349 63989 116360 14081203 12003327 2077876 37583565 MEMBER DEPOSITS 1219099118 1219099118 X 67940068 0 67940068 0 67940068 59380132 0 59380132 0 59380132 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION 1 COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 501(C)(3) 77500 151619 ESTIMATED LABOR AND OTHER SERVICES TO FUND SCHOLARSHIPS THE FOUNDATION WILL ISSUE 1 PART I, LINE 2: GRANT RECIPIENTS OF OUR FOUNDATION'S SCHOLARSHIP PROGRAM ARE REQUIRED TO PROVIDE A TRANSCRIPT TO DETERMINE THAT MINIMUM GPA REQUIREMENTS HAVE BEEN MET, THAT THEY HAVE ATTENDED A COLLEGE OR TRADE SCHOOL IN MICHIGAN, AND THAT THEY ARE RESIDING IN MICHIGAN. X 1 1 X X X X X 0 1 0 ROBERT BAVA CEO 595640 0 480910 0 1800 0 45500 0 19584 0 1143434 0 0 0 DANIEL MUNRO COO/EVP 498103 0 61542 0 8418 0 45500 0 19611 0 633174 0 0 0 KELLI WISNER-FRANK CFO 395573 0 41628 0 7800 0 39000 0 16179 0 500180 0 0 0 TERESA MAYER CLO 242728 0 40835 0 7800 0 33920 0 3239 0 328522 0 0 0 DONNA SIEJUTT CHRO 203284 0 34370 0 7800 0 21240 0 15452 0 282146 0 0 0 ELIZABETH ANNE SPADAFORE S. BUSINESS RELATIONSHIP M 113345 0 141097 0 600 0 3464 0 4880 0 263386 0 0 0 WENDI DIACONO WEALTH ADVISOR 36429 0 163636 0 2610 0 19610 0 9646 0 231931 0 0 0 JEFFREY DUBEY VP RISK MANAGEMENT 181177 0 26484 0 600 0 8404 0 14640 0 231305 0 0 0 BRENT LOWELL BUSINESS RELATIONSHIP MANA 106091 0 70183 0 7307 0 19500 0 13893 0 216974 0 0 0 JENNIFER LYNN HURREN VP E-COMMERCE 159530 0 22534 0 3600 0 19500 0 1121 0 206285 0 0 0 BRIAN WILSON VP OF RETAIL DELIVERY 153942 0 21567 0 3600 0 26000 0 794 0 205903 0 0 0 CARLINGTON BUCKNOR VP OF TECHNOLOGY 152662 0 19630 0 7816 0 7439 0 14567 0 202114 0 0 0 JENNY LUDWIGSEN VP MARKETING 147489 0 21038 0 3600 0 19500 0 1190 0 192817 0 0 0 SUSAN SETERA AVP BUSINESS SYSTEMS 147746 0 16000 0 6118 0 21254 0 1381 0 192499 0 0 0 JONATHAN COUSINS MORTGAGE & BUSINESS CONSULTANT 104877 0 65424 0 600 0 6887 0 5128 0 182916 0 0 0 PART I, LINE 4B DAN MUNRO-EVP ($179,469.70), AND KELLI WISNER-FRANK CFO ($151,053.92) PARTICIPATE IN A 457F PLAN. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ROBERT BAVA, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. ROBERT BAVA CEO COLLATERAL ASSET SPLIT DOLLAR PLAN X 9350000 10115018 0 1 1 10115018 THOMAS COOK DIRECTOR/OWNER OF TEAM FACILITIES 271316 THOMAS COOK OWNS A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). 0 ROBERT BAVA BOARD MEMBER OF CREDIT UNION TRUST 0 NO TRANSACTIONS. 1 ROBERT BAVA BOARD MEMBER OF MEMBER DRIVEN TECHNOLOGIES 1458378 COMMUNITY CHOICE CREDIT UNION OWNS 25% OF MEMBER DRIVEN TECHNOLOGIES. THE CREDIT UNION PAID MONTHLY FEES FOR CORE IT PROCESSING SERVICES. 1 KELLI WISNER-FRANK BOARD MEMBER OF MEMBER FIRST MORTGAGE CUSO 369709 COMMUNITY CHOICE CREDIT UNION OWNS 11.2% OF MEMBER FIRST MORTGAGE. CCCU PAID MONTHLY LOAN SERVICING FEES TO MEMBERS FIRST MORTGAGE. 1 KELLI WISNER-FRANK BOARD MEMBER OF COMMERCIAL ALLIANCE CUSO 684867 COMMUNITY CHOICE CREDIT UNION OWNS 28.57% OF COMMERCIAL ALLIANCE. CCCU PAID MONTHLY LOAN SERVICING FEES TO COMMERCIAL ALLIANCE 1 ROBERT BAVA BOARD MEMBER OF MICHIGAN TRUSTED TITLE AGENCY 0 NO TRANSACTIONS. 1 ROBERT BAVA BOARD MEMBER COMPLY-YES! 100000 COMPLY-YES! BY COMMUNITY CHOICE CREDIT UNION 1 ROBERT BAVA BOARD MEMBER OF SERVISTAR 600000 PURCHASE OF CAPTIAL INTEREST IN SERVISTAR BY CCCU 1 ROBERT BAVA BOARD MEMBER TRU TREASURY 300000 PURCHASE OF CAPITAL INTEREST IN TRU TREASURY BY CCCU 1 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY. THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART III, LINE 2 THE CREDIT UNION SUPPORTED NEARLY 500 BUSINESS MEMBERS BY PROVIDING $49 MILLION OF SBA PPP (PAYCHECK PROTECTION PROGRAM) LOANS. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE AND IS ABLE TO VOTE FOR THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS MADE BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS; HOWEVER, DAY TO DAY DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS, MANAGEMENT, AND TEAM MEMBERS MUST BE TRAINED, REVIEW, AND SIGN OFF ON A CONFLICT OF INTEREST STATEMENT LISTING ANY POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT IS LISTED OR FOUND, EACH IS REVIEWED ON A CASE BY CASE BASIS. ANY CONFLICTS THAT ARE FOUND ARE DEALT WITH IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A THIRD PARTY VENDOR, D HILTON, TO ASSESS AND EVALUATE EVERY POSITION IN THE ORGANIZATION WHICH HELPS THE ORGANIZATION DEVELOP AND MAINTAIN COMPETITIVE PAY RATES AND IMPROVE EMPLOYEE PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE ALSO POSTED IN THE BRANCH OFFICES EACH MONTH. FORM 990, PART IX, LINE 24E ATM EXPENSES 1,362,718. HOME BANKING 1,257,507. MISCELLANEOUS EXPENSE 224,951. TRAINING/DEVELOPMENT/EDUCATION 98,145. MERGER EXPENSES 32,901. FORM 990, PART XI, LINE 9: ACCUMULATED OTHER COMPREHENSIVE LOSS RELATIVE TO THE DEFINED BENEFIT PLAN -180,447. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: ROBERT BAVA IS ON THE BOARD OF DIRECTORS OF THE FOLLOWING ORGANIZATIONS: MEMBER DRIVEN TECHNOLOGIES CREDIT UNION TRUST MICHIGAN TRUSTED TITLE AGENCY COMPLY-YES! SERVISTAR TRU TREASURY KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR COMMERCIAL ALLIANCE AND MEMBER FIRST MORTGAGE. 3099 BIDDLE LLC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 823577624 PROPERTY MANAGEMENT MI 445800 6345053 COMMUNITY CHOICE CREDIT UNION 20773 13 MILE RD ROSEVILLE LLC 20773 13 MILE RD ROSEVILLE MI 48066 844641854 PROPERTY MANAGEMENT MI 180603 2911271 COMMUNITY CHOICE CREDIT UNION COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 PUBLIC CHARITY MI 501(C)(3) 7 COMMUNITY CHOICE CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 COMMUNITY CHOICE FOUNDATION B 77500 ACTUAL COMMUNITY CHOICE FOUNDATION L 15822 ESTIMATE COMMUNITY CHOICE FOUNDATION O 135797 ESTIMATE