2020-07-17T10:25:59-07:00 2019-12-31 650152722 FINANCIAL STANDARDS GROUP INC 6447 W HIGHWAY 146 CRESTWOOD KY 40014 990 2019-01-01 381627377 HarborLight Credit Union HARB 2318945608 2151 Cogswell Drive Whitehall MI 49461 Justin Bamford CEO 2020-07-17 true Robert Draeger P01331632 8005225820 2019 2020-09-22 18:59:49Z 2151 Cogswell Drive Whitehall MI 49461 6558237 false X www.harborlightcu.org X 1954 MI HarborLight Credit Union exists to improve the financial well-being of our members. 7 7 51 9 44516 -100 2000 4980359 5565134 842642 991103 17016 0 5840017 6558237 3000 0 0 1778534 1777407 0 0 3986918 4337168 5768452 6114575 71565 443662 110064269 117026310 99533426 105984137 10530843 11042173 HarborLight Credit Union exists to improve the financial well-being of our members. false false The Credit Union has various types of deposit accounts available for our members. As of 12/31/2019 we had 10,661 members. The Credit Union has several types of loan programs available for our members. We funded 1,567 new loans to our members during 2019. As of 12/31/2019 we had 6,672 loans to our members. false false false false false false false true false true false true false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 2444 0 true 51 true true true false false false false false false false X 7 7 false false false false true true true true true false true true false true true true true true true true false X Barbara Blair 2318945608 2151 Cogswell Drive Whitehall MI 49461 Justin Bamford CEO 40.00 0.00 X 119935 0 26243 Barbara Blair CFO 40.00 0.00 X 58177 0 9393 Donna Vangeison CLO 0.00 0.00 8370 0 1020 Rita Kosheba Secretary 1.00 0.00 X 0 0 0 Steven Mayberry Vice Chair 1.00 0.00 X 0 0 0 Allen Rant Chairperson 1.00 0.00 X 0 0 0 Sharon Swaninger Treasurer 1.00 0.00 X 0 0 0 Steven Salter Director 1.00 0.00 X 0 0 0 Lee Andrews Director 1.00 0.00 X 0 0 0 Larry Goldner Director 1.00 0.00 X 0 0 0 186482 36656 1 true false false Fiserv 75 Remittance Dr Chicago IL 60675 Core Processor/Card Proc 1322716 Kasasa by BanVue PO Box 527 Lubbock TX 79408 rewards checking program 123986 John M Floyd 125 N Burnet Dr Baytown TX 77520 Courtesy Pay 156764 3 2000 2000 Ancillary loan products 18330 18330 Interchange Income 522100 164187 164187 Interest on Loans 522100 3607353 3607353 Member Fee Income 522100 1562197 1562197 Other Mbr Related Income 522100 186881 186881 26186 26186 5565134 991103 991103 0 0 0 0 0 0 0 0 6558237 6511721 44516 0 0 0 0 223138 0 1186004 85909 172934 109422 0 0 0 0 0 0 402448 194713 330665 534503 0 120450 0 0 77825 750390 0 176924 63592 Loan Servicing Expense 781051 ATM Transaction fees 474191 Provision for Loan Losses 330552 Postage and Shipping 54599 45265 6114575 0 0 0 1626398 1943374 15572763 14931548 0 3379 0 0 60527009 70646119 0 121771 100483 4683871 1814020 2943474 2869851 2743361 2538156 0 22993700 20288700 0 3535793 3704700 110064269 117026310 308132 1315508 152667 326774 99072627 104341855 99533426 105984137 X 10530843 11042173 10530843 11042173 110064269 117026310 443662 67668 X false false false false true 173352 173352 3579392 1182018 2397374 931127 632002 299125 2869851 20288700 Escrow Balances to Line 21 Bal Sheet -326774 Member Shares & Deposits 104668629 104341855 false false false Donna Vangeison CLO 8370 670 350 9390 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder The organization has members. To be a member one must have a share (savings) account at the Credit Union. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body The Board of Directors is elected by the Credit Union members. Each member has one vote. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders A member vote is required for decisions which are beyond the authority of the Board of Directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote. Form 990, Part VI, Line 11b: Form 990 Review Process Management provides data to independent CPA to prepare the return. Management reviews the return for accuracy, and then authorizes the CPA to e-file the approved return. Management reviews the return with the Directors at the next Board meeting. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Policy read and acknowledged annually by signing and are returned to CEO. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The Board of Directors is provided CUNA salary survey information for the CEO position. The board reviews the CEO compensation at the annual wage meeting and determines the CEO compensation. The Board decision to approve updated compensation is noted inthe Board minutes. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Key employee compensation is determined by the CEO and CFO using the CUNA salary survey to determine wage brackets for each position. The Board of Directors approves the updated compensation. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Governing documents and policies are available upon request. Financial statements are posted in the lobby. Part IV, Line 2b - Escrow Liability Arragement Explanation The Credit Union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.