2020-11-05T13:23:16-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 381524325 TLC COMMUNITY CREDIT UNION TLCC 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 RANDALL SMITH CEO 5174239120 2020-11-04 1 ROBERT PARKS P00740435 2482443000 2020-11-04 104.11.88.150 2020-11-04 12:42:22 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z RANDALL SMITH 3030 S ADRIAN HWY ADRIAN MI 49221 57967738 0 X WWW.TLCCU.ORG X CREDIT UNION 1956 MI PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 7 7 141 9 67065 31131 0 0 17175679 18719197 4257216 4892401 -11160 -18027 21421735 23593571 6690 168342 0 0 7319811 8053876 0 0 0 8844036 9080642 16170537 17302860 5251198 6290711 483457759 525006530 413100178 445309444 70357581 79697086 TO PROMOTE THE PHILOSOPHY OF PEOPLE HELPING PEOPLE. STRIVING TO BE THE PRIMARY PROVIDER OF FINANCIAL SERVICES TO OUR MEMBERS AND THEIR FAMILIES BY PROVIDING THE OPPORTUNITY TO ACHIEVE FINANCIAL SECURITY AND WELL-BEING. 0 0 PROVIDE 52,341 MEMBERS WITH SAVINGS, SHARE DRAFTS, CLUB, MONEY MARKET, BUSINESS, INDIVIDUAL RETIREMENT, AND CERTIFICATES OF DEPOSIT ACCOUNTS TOTALING 93,591 PROVIDE 15,461 NEW AND USED AUTO, UNSECURED, OVERDRAFT, COMMERCIAL, REAL ESTATE, HOME EQUITY, STUDENT AND CREDIT CARD LOANS. OFFER ATM, ON-LINE BANKING, AUDIO RESPONSE, ACH, SAFE DEPOSIT BOXES, OVERDRAFT PROTECTION, CHECK CASHING, TRAVEL CARDS, MOBILE BANKING, MOBILE DEPOSIT CAPTURE AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 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 13217 0 1 141 0 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X TLC COMMUNITY CREDIT UNION 5174239120 3030 S ADRIAN HWY ADRIAN MI 49221 MARK SPOHR CHAIRPERSON 1.00 X 0 0 0 DAVID MILLER VICE CHAIRPERSON 1.00 X 0 0 0 CHRIS LANE DIRECTOR 1.00 X 0 0 0 TROY BEVIER DIRECTOR 1.00 X 0 0 0 RICHARD EGLI SECRETARY 1.00 X 0 0 0 JOE MURPHY TREASURER 1.00 X 0 0 0 RANDALL SMITH CEO 40.00 X 258111 0 66320 MICHAEL SERVOSS EVP-ADMINISTRATION 40.00 X 136215 0 46491 ROY CADIEUX EVP-OPERATIONS 40.00 X 190105 0 23699 JEFF BREHMER SR VP ADMINISTRATION 40.00 X 129578 0 37584 ROBERT SCHROCK SR VP LENDING 40.00 X 148490 0 22466 PAUL CORAZZOL VP IT 40.00 X 109574 0 36766 LORIE EASTON VP INDIRECT LENDING 40.00 X 105576 0 16228 1077649 0 249554 7 0 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 COMPUTER SERVICES 288621 DIEBOLD PO BOX 643543 PITTSBURGH PA 15264 BANKING MACHINES & EQUIPMENT 211782 KREIGHOFF-LENAWEE COMPANY P O BOX 100 ADRIAN MI 49221 GENERAL CONTRACTOR 206923 AMERICAN EXPRESS PO BOX 650448 DALLAS TX 752650448 CREDIT CARD 167126 DOXIM INC 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 DOCUMENT PROCESSING 165382 10 LOAN INTEREST INCOME 522100 12052030 12052030 FEE AND OTHER INCOME 522100 6600102 6600102 NON-MEMBER ATM INCOME 900099 67065 67065 18719197 4811011 4811011 60900 78927 -18027 -18027 -18027 34263015 113615 34141147 154093 121868 -40478 81390 81390 23593571 23526506 67065 0 X 162342 6000 720941 5292407 665798 913970 460760 30613 109182 882234 355442 1338486 291780 713134 145398 2626564 582183 77654 990T EXPENSE 10707 LOAN SERVICING 1668890 MISCELLANEOUS EXPENSE 124054 OPERATING FEES 104301 20020 17302860 5574125 5808517 2527015 2081633 225823 165776 266082511 281966416 440108 398784 15968567 6611015 9146408 9357552 182027343 203970873 9730803 13308046 7703623 7948933 483457759 525006530 1872026 2955470 411228152 442353974 413100178 445309444 X 0 0 0 0 70357581 79697086 70357581 79697086 483457759 525006530 X 6290711 3054053 -5259 X X 1 X 1 X 1 0 2893069 2893069 8353866 3198588 5155278 21804 21804 0 4699828 3390623 1309205 9357552 FEDERAL AGENCY SECURITIES 202650073 F FHLB STOCK 1320800 C 203970873 MEMBER SHARES 442353974 442353974 X 23672498 0 23672498 -78927 -78927 23593571 17381787 78927 78927 17302860 0 17302860 PART X, LINE 2: TLC COMMUNITY CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL CONDITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE THREE YEAR PERIOD ENDED DECEMBER 31, 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS -78,927. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE IS REPORTED AS A REDUCTION OF RENTAL REVENUE IN FORM 990 BUT INCLUDED IN EXPENSES IN THE AUDITED FINANCIAL STATEMENTS 78,927. 1 MICHIGAN STATE UNIVERSITY HIDDEN LAKE GARDENS 6214 MONROE RD M50 TIPTON MI 49287 386005984 501(C)(3) 10000 0 CHARITABLE CONTRIBUTION FOR COMMUNITY DEVELOPMENT 1 SCHOLARSHIPS 6 6000 PART I, LINE 2: THE CREDIT UNION CHOOSES DONATION RECIPIENTS BASED ON CERTAIN CRITERIA AND KEEPS SUPPORTING DOCUMENTS FOR THEIR DECISIONS. X 1 1 X X X X 0 1 0 RANDALL SMITH CEO 257595 0 0 0 516 0 32057 0 34263 0 324431 0 0 0 MICHAEL SERVOSS EVP-ADMINISTRATION 134571 0 1050 0 594 0 21048 0 25443 0 182706 0 0 0 ROY CADIEUX EVP-OPERATIONS 182813 0 5000 0 2292 0 22711 0 988 0 213804 0 0 0 JEFF BREHMER SR VP ADMINISTRATION 124578 0 5000 0 0 0 16442 0 21142 0 167162 0 0 0 ROBERT SCHROCK SR VP LENDING 146474 0 0 0 2016 0 18150 0 4316 0 170956 0 0 0 PART I, LINE 4B THE CREDIT UNION HAS CONTRIBUTED TO A CREDIT UNION OWNED LIFE INSURANCE PLAN FOR THE CEO, RANDALL SMITH. THE CASH SURRENDER VALUE OF THIS PLAN AS OF DECEMBER 31, 2019 IS $1,182,825. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING OF THE MEMBERSHIP FOR 3 YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP OF THE CREDIT UNION MUST APPROVE MERGERS, FIELD OF MEMBERSHIP CHANGES, BY-LAW CHANGES, AND CHARTER CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND SCHEDULES ARE CAREFULLY REVIEWED BY THE SENIOR VICE PRESIDENT-ADMINISTRATION, THE CEO ALSO REVIEWS IN SUMMARY. THE FORM 990 AND SCHEDULES ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED BY A SYSTEM OF DUAL CONTROLS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINES CEO COMPENSATION THROUGH THE USE OF MULTIPLE SALARY SURVEYS AND THIRD PARTY APPRAISAL AND COMPENSATION SYSTEM. THE CEO USES THE SAME RESOURCES FOR DETERMINING VP COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF THE CREDIT UNION. OTHER DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 98,899. INTERNET BANKING 206,365. NETWORK ADMINISTRATION 576,970. FORM 990, PART IX, LINE 24E PROVISION FOR LOAN LOSSES 20,020. FORM 990, PART XI, LINE 9: CHANGE IN ACTUARIAL VALUE OF POST-RETIREMENT BENEFITS -5,259. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.