2020-11-09T13:16:00-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 380536242 CREDIT UNION ONE CRED 2483981210 400 E NINE MILE FERNDALE MI 48220 GARY MOODY PRESIDENT AND CEO 2483981210 2020-11-05 1 DOUGLAS J ORTH CPA P01076394 2482443000 2020-10-24 104.11.88.150 2020-11-05 13:00:30 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z GARY MOODY 400 EAST NINE MILE ROAD FERNDALE MI 48220 87809281 0 1359 X WWW.CUONE.ORG X 1938 MI CREDIT UNION ONE'S PRIMARY EXEMPT PURPOSE IS TO EXEMPLIFY THE HISTORICAL CREDIT UNION PHILOSOPHY OF "PEOPLE HELPING PEOPLE". CREDIT UNION ONE ACCOMPLISHED THIS THROUGH FINANCIAL PERFORMANCE BY PAYING $5,677,000 IN DIVIDENDS AND INTEREST ON THE DEPOSITS HELD BY OUR 130,449 MEMBERS. WE WERE ALSO ABLE TO OFFER AND MAINTAIN COMPETITIVE LOAN RATES. IN ADDITION, WE ACCOMPLISHED OUR EXEMPT PURPOSE BY COMMUNITY INVOLVEMENT. IN 2019 WE VOLUNTEERED OUR TIME AND TALENTS TO SUPPORT BEAUMONT HOSPITAL-CHILDREN'S MIRACLE NETWORK, WALK FOR WARMTH, WALK FOR MIRACLES, AND FORGOTTEN HARVEST. 12 12 507 12 406749 0 0 0 52576937 62041093 3720045 4269051 2817804 406749 59114786 66716893 15000 17500 0 0 20557718 25746046 0 0 0 27742383 31449404 48315101 57212950 10799685 9503943 1190826264 1490291033 1082001378 1368363980 108824886 121927053 CREDIT UNION ONE IS COMMITTED TO PROVIDING EXCEPTIONAL VALUE TO ITS MEMBERS BY DELIVERING OUTSTANDING PRODUCTS AND SERVICES ANYTIME, ANYWHERE. 0 0 DURING 2019, CREDIT UNION ONE, A STATE CHARTERED CREDIT UNION LOCATED IN THE STATE OF MICHIGAN, PROVIDED FINANCIAL SERVICES TO MEBMERS WHO LIVE IN THE STATE OF MICHIGAN. CREDIT UNION ONE CONTINUED TO FULFILL ITS EXEMPT STATUS BY PROVIDING CREDIT AT FAIR AND REASONABLE RATES OF INTEREST, OFFERING COMPETITIVE SHARE DEPOSIT PRODUCTS, AND PROVIDING MEMBERS WITH THE OPPORTUNITY TO IMPROVE THE THEIR ECONOMIC CONDITION. IN 2019, THE CREDIT UNION SERVED 130,449 MEMBERS. THERE WERE 17,405 LOANS GRANTED TOTALING $462,333,749. DEPOSITS GREW BY $287,353,896 (SIGNIFICANT GROWTH FROM HANTZ BANK ACQUISITION) 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 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 31619 0 1 507 1 1 1 0 0 0 0 0 0 0 X 12 12 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TINA TRACY 2485845037 400 E NINE MILE FERNDALE MI 48220 GUADALUPE G LARA VICE CHAIRPERSON 3.00 X 0 0 0 PAUL W STUART BOARD CHAIRPERSON 3.00 X 0 0 0 JAN GILLESPIE BOARD MEMBER 3.00 X 0 0 0 JOAN STEFANSKI SECRETARY/TREASURER 3.00 X 0 0 0 RUDOLPH R MONTANO JR BOARD MEMBER 3.00 X 0 0 0 DAVID C PRYBYS BOARD DIRECTOR 3.00 X 0 0 0 RAYMOND F REDMOND BOARD MEMBER 3.00 X 0 0 0 JUANITA M REID BOARD MEMBER 3.00 X 0 0 0 GAIL WESTOVER BOARD MEMBER 3.00 X 0 0 0 NICKOLAS NICKOLOPOULOS BOARD MEMBER 3.00 X 0 0 0 CHRISTINE DOWHAN-BAILEY BOARD MEMBER 3.00 X 0 0 0 GARY MOODY PRESIDENT AND CEO 40.00 X 627278 0 34681 CHRISTINA TRACY SVP/CFO 40.00 X 184199 0 27959 THOMAS SCHAEFFLER EVP/COO 40.00 X 425971 0 18070 DAVID BREUER SVP/CIO 40.00 X 281208 0 13961 SWAMINATHAN SEETHARAMAN SVP/CHIEF MEMBER EXPERIENC 40.00 X 238692 0 28040 RENEE MUCCIOLI VP/SALES 40.00 X 160079 0 30729 SCOTT BONACORSI SVP/CHIEF HUMAN RESOURCES 40.00 X 175465 0 28505 DONNA REID SVP,CMO 40.00 X 171727 0 31894 MARK MACFARLANE VP ENTERPRISE SOLUTIONS 40.00 X 173217 0 24403 JILL HAWKINS SVP REAL ESTATE LENDING 40.00 X 143049 0 5849 2580885 0 244091 28 0 1 0 FISERV 75 REMITTANCE DR STE 1649 CHICAGO IL 60675 DATA PROCESSING 1275955 CORRADO CONTRACTING LLC 27530 FAIRFIELD WARREN MI 48088 CONSTRUCTION 1254853 CO-OP FINANCIAL 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 ATM AND DEBIT CARD SERVICING 938059 MASTERCARD 2000 PURCHASE ST PURCHASE NY 10577 CREDIT/DEBIT PROCESSOR 937362 DIEBOLD INC 5995 MAYFAIR ROAD NORTH CANTON OH 44720 ATM SERVICING 929248 47 LOANS TO MEMBERS 522100 43311605 43311605 PROCESSING FEES FOR MEMBER ACTIVI 522100 18729488 18729488 62041093 4114724 4114724 20012458 1234257 19953000 1139388 59458 94869 154327 154327 INSURANCE INCOME 524298 263911 263911 ATM INCOME 525990 142838 142838 406749 66716893 66310144 406749 0 X 17500 1880059 18623590 325222 3264174 1653001 1165306 470951 562982 1931679 1623320 2656802 2923315 169165 407556 6557972 70644 2737039 377252 LOAN SERVICING EXPENSE 4001484 DEBIT/ATM EXPENSES 2142383 PROVISION FOR LOAN LOSS 1374901 MISCELLANEOUS EXPENSE 1276876 999777 57212950 19616179 14522450 49425016 102272599 -82370 1187443 18247406 18532168 881202844 1124149290 1792162 1587723 62696649 30435010 30453104 32261639 144100172 102976643 34684600 46071751 58116478 1190826264 1490291033 9031368 8040073 25000000 25000000 1047970010 1335323907 1082001378 1368363980 X 0 0 0 0 108824886 121927053 108824886 121927053 1190826264 1490291033 X 9503943 3511638 86586 X X 0 1 X 1 0 6653123 6653123 33245663 12200211 21045452 378587 324101 54486 21413085 17200954 4212131 1006191 709744 296447 32261639 INVESTMENT IN CUSO 2995553 C AVAILABLE FOR SALE SECURITIES 92734653 F CERTIFICATES OF DEPOSIT 7246437 C 102976643 MEMBER SHARES 1335323907 1335323907 X 66716893 0 66716893 0 66716893 57212950 0 57212950 0 57212950 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (INTERNAL REVENUE CODE SECTION 501(C)(14), FROM FEDERAL INCOME TAX. 1 CANCER RESEARCH SCHOLARSHIPS 12 17500 PART I, LINE 2: THE CHECKS ARE WRITTEN DIRECTLY TO THE SCHOOL FOR EACH SCHOLARSHIP. X 1 1 X X X X 0 1 0 GARY MOODY PRESIDENT AND CEO 491026 0 129792 0 6460 0 13100 0 21581 0 661959 0 0 0 CHRISTINA TRACY SVP/CFO 181512 0 0 0 2687 0 6951 0 21008 0 212158 0 0 0 THOMAS SCHAEFFLER EVP/COO 341103 0 79401 0 5467 0 7694 0 10376 0 444041 0 0 0 DAVID BREUER SVP/CIO 275257 0 0 0 5951 0 11498 0 2463 0 295169 0 0 0 SWAMINATHAN SEETHARAMAN SVP/CHIEF MEMBER EXPERIENC 233671 0 0 0 5021 0 7872 0 20168 0 266732 0 0 0 RENEE MUCCIOLI VP/SALES 157730 0 0 0 2349 0 7009 0 23720 0 190808 0 0 0 SCOTT BONACORSI SVP/CHIEF HUMAN RESOURCES 173942 0 0 0 1523 0 7471 0 21034 0 203970 0 0 0 DONNA REID SVP,CMO 167563 0 0 0 4164 0 7224 0 24670 0 203621 0 0 0 MARK MACFARLANE VP ENTERPRISE SOLUTIONS 173217 0 0 0 0 0 3526 0 20877 0 197620 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE GARY MOODY, TOM SCHAEFFLER, DAVE BREUER, AND SWAMINATHAN SEETHARAMAN THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANTS 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. GARY MOODY PRESIDENT AND CEO SPLIT DOLLAR LIFE INSURANCE X 3207339 4690521 0 1 1 TOM SCHAEFFLER EVP/COO SPLIT DOLLAR LIFE INSURANCE X 3112000 3890000 0 1 1 STEVE GRECH EVP/LENDING SPLIT DOLLAR LIFE INSURANCE X 2360000 2950000 0 1 1 DAVE BREUER SVP/CIO SPLIT DOLLAR LIFE INSURANCE X 1960000 2450000 0 1 1 DAVID SOMMERS SVP/CFO SPLIT DOLLAR LIFE INSURANCE X 1600000 2000000 0 1 1 SWAMINATHAN SEETHARAMAN SVP/MEMBER EXP. OFFICER SPLIT DOLLAR LIFE INSURANCE X 1417582 2551647 0 1 1 18532168 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD 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 PARTICIPANTS 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 VI, SECTION A, LINE 4 DURING 2019, CREDIT UNION ONE RECEIVED APPROVAL FROM THE MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES AND THE NATIONAL CREDIT UNION ADMINISTRATION TO ACQUIRE AND MERGE HANTZ BANK. AS A RESULT OF THE MERGER, THE CREDIT UNION NOW OPERATES IN SIX COUNTIES IN OHIO. FORM 990, PART VI, SECTION A, LINE 6 EVERY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EVERY MEMBER OF THE CREDIT UNION IS GIVEN ONE VOTE AND IS ABLE TO ELECT MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING FORM 990, PART VI, SECTION A, LINE 7B ONLY SUBSTANTIAL EVENTS ARE SUBJECT TO MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE PRESENTED AT A MEETING OF THE AUDIT COMMITTEE OF CREDIT UNION ONE SUBSEQUENT TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ANNUALLY COMPLETES AND SIGNS A FORMAL CONFLICT OF INTEREST DISCLOSURE CONSISTENT WITH THE BOARD'S CODE OF ETHICS. THE DISCLOSURES ARE REVIEWED BY THE GOVERNANCE COMMITTEE FOR COMPLIANCE WITH THE CODE OF ETHICS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION REVIEW IS PERFORMED BY THE BOARD OF DIRECTORS ANNUALLY. ALL TOP MANAGEMENT LEVEL EMPLOYEES' COMPENSATION ARE REVIEWED BY THE HEAD OF HR AND BENCHMARKED. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART IX, LINE 11G OTHER OUTSIDE AND PROFESSIONAL SERVICES 562,982. FORM 990, PART IX, LINE 24E OTHER LOSSES 888,595. SERVICE CENTER EXPENSE 111,182. FORM 990, PART XI, LINE 9: AMOUNTS RECLASSIFIED FROM OCI FROM THE GAINS/LOSSES ON AFS INVESTMENTS 59,458. POST RETIREMENT BENEFIT PLAN GAINS 48,925. POST RETIREMENT BENEFIT PLAN AMORTIZATION INCLUDED IN NET EARNINGS -21,797. 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 ACCOUNT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.