2020-07-09T16:19:15-05:00 2019-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 381475121 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 7346767000 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 T SCOTT KREINBRING CFO 7346753757 2020-07-08 1 JOSEPH A ZITO P00648440 2482443000 104.11.88.150 2020-07-08 12:39:58 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z ADVANTAGE ONE CREDIT UNION CHRISTOPHER D CORKERY 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 10909963 0 X WWW.MYAOCU.COM X 1952 MI THE MISSION OF ADVANTAGE ONE CU IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 7 7 67 10 208648 -161128 0 0 8884353 9925838 677967 775477 177921 208648 9740241 10909963 0 7500 0 0 3679422 3888088 0 0 0 5591467 5603843 9270889 9499431 469352 1410532 143351571 149585346 128832458 133300370 14519113 16284976 THE MISSION OF ADVANTAGE ONE CU IS TO OPERATE IN A SAFE AND SOUND MANNER WHILE MEETING THE FINANCIAL NEEDS OF ITS MEMBERSHIP. 0 0 THE LOAN PORTFOLIO HAD 2019 GROWTH OF 8.36%. DIRECT AUTO AND INDIRECT AUTO ACCOUNT FOR $48 MILLION OF A $110 MILLION PORTFOLIO. THESE BALANCES HAD LITTLE GROWTH IN 2019. MOST OF THE GROWTH IN 2019 CAME FROM THE BUSINESS PARTICIPATIONS (+50.92%, $4.1 MILLION) & CLOSED END HOME EQUITY (+154.59%, 3.1 MILLION) AREAS. EXPENSES ASSOCIATED WITH THIS AREA TOTALED $837,000 (NOT INCLUDING ALLOCABLE SALARIES, WAGES AND BENEFITS) AS OF DECEMBER 31, 2019 ADVANTAGE ONE HAD 7,496 DR CARDS. THIS REPRESENTS 46% OF OUR TOTAL MEMBERSHIP. THE ASSOCIATED EXPENSE FOR THIS PROGRAM WAS ABOUT $612,000 (NOT INCLUDING WAGES AND BENEFITS). EARNINGS FROM THE COURTESY PAY PROGRAM INCREASED 12.90% IN 2019 TO $1.33 MILLION. EXPENSES ASSOCIATED WITH UNCOLLECTED FEES AMOUNTED TO ABOUT $43,000 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3090 0 1 67 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 T SCOTT KREINBRING 7346753757 23670 TELEGRAPH ROAD BROWNSTOWN MI 48134 RICHARD E LINDERMANN CHAIRPERSON 1.00 X 0 0 0 RORY RENAUD VICE CHAIRPERSON 1.00 X 0 0 0 MART BERTERA DIRECTOR 1.00 X 0 0 0 MARK RAGSDALE DIRECTOR 1.00 X 0 0 0 ANTHONY PASCARELLA SECRETARY 1.00 X 0 0 0 ROBERT J MATTERN TREASURER 1.00 X 0 0 0 JERRY UCHTORFF DIRECTOR 1.00 X 0 0 0 CHRISTOPHER CORKERY CEO 55.00 X 199657 0 34976 VINCENT NEYLAND CFO 55.00 X 151533 0 17920 NICHOLAS SCHMITTER CLO 45.00 X 127559 0 16598 DWIGHT EMANUEL COO 45.00 X 133805 0 12544 612554 0 82038 4 0 1 0 COOP FINANCIAL SERVICES 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 CARD PROCESSOR 604428 FISERV GALAXY 5600 CROOKS RD STE 101 TROY MI 48098 DATA PROCESSOR 594653 FIS 601 RIVERSIDE AVENUE JACKSONVILLE FL 32204 CARD PROCESSOR 267701 3 INCOME ON LOANS 522100 6665303 6665303 FEES/CHARGES/OTHER 522100 3260535 3260535 9925838 775477 775477 NON-MEMBER ATM INCOME 900099 208648 208648 208648 10909963 9925838 208648 775477 X 7500 694592 2404259 231792 310201 247244 44453 53314 444150 117587 1814377 348804 38946 182454 429590 20653 305981 LOAN SERVICING 836666 PROVISION FOR LOAN LOSS 794390 MISCELLANEOUS 81884 DIFS FEES 33261 57333 9499431 4034938 8515843 1488000 0 451626 769413 101222952 109744194 649162 685014 4733542 0 4564694 4733542 28384291 21031608 433000 433000 2122908 3672732 143351571 149585346 1379599 911874 127452859 132388496 128832458 133300370 X 0 0 0 0 14519113 16284976 14519113 16284976 143351571 149585346 1410532 355331 0 X X 0 1 X 1 0 1123759 1123759 2738664 2738664 871119 871119 4733542 MEMBER DEPOSITS 132388496 132388496 X 10909963 0 10909963 0 10909963 9499431 0 9499431 0 9499431 PART X, LINE 2: INCOME TAX IS NOT PROVIDED IN THE STATEMENTS OF INCOME AS THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR UNRELATED BUSINESS INCOME. 1 SCHOLARSHIPS 3 7500 PART III SCHOLARSHIPS ARE AWARDED BASED ON VARIOUS CRITERIA INCLUDING BUT NOT LIMITED TO THE APPLICANTS' SCHOLASTIC ACHIEVEMENTS, COMMUNITY SERVICE AND CHARITY WORK. APPLICANTS ALSO ANSWER A SERIES OF ESSAY QUESTIONS. X 1 1 X X 0 0 0 CHRISTOPHER CORKERY CEO 170257 0 22200 0 7200 0 16800 0 18176 0 234633 0 0 0 VINCENT NEYLAND CFO 142033 0 9500 0 0 0 11200 0 6720 0 169453 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE ORGANIZATION VOTE FOR VOLUNTEERS, OR BOARD OF DIRECTORS, THROUGH AN ELECTION PROCESS CONDUCTED AT AN ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CEO AND CFO OVERSEE THE PREPARATION OF THE FORM 990 AS WELL AS THE REVIEW OF THE FORMS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C POLICIES ARE REVIEWED REGULARLY, REVISED AS NECESSARY AND PRESENTED TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMMITTEE COMPRISED OF THE BOARD OF DIRECTORS APPROVES THE CEO'S COMPENSATION. CEO APPROVES COMPENSATION OF OTHER OFFICERS/KEY EMPLOYEES AND ESTABLISHES TERM CONTRACTUAL AGREEMENTS AFTER NOTIFYING THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNIONS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 444,150. FORM 990, PART IX, LINE 24E TRAINING/DEVELOPMENT/EDUCATION 29,058. NO BOUNCE PROVISION 28,275. FORM 990, PART XII, LINE 2C WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.