2020-11-12T11:44:42-06:00 2019-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2019-01-01 381418180 CHRISTIAN FINANCIAL CREDIT UNION CHRI 5867726330 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 VALLORIE MCBRIDE CFO 5867726330 2020-11-12 1 JOSEPH ZITO CPA P00648440 2482443000 104.11.88.150 2020-11-12 10:13:57 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B2EFC313AB4EEA4760135470907D022D8B217834 2019 2021-04-22 16:20:28Z X PATRICIA CAMPBELL 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 26370894 0 1359 X WWW.CHRISTIANFINANCIALCU.COM X 1950 MI AT CHRISTIAN FINANCIAL CREDIT UNION, OUR MISSION IS TO PROVIDE AN ENVIRONMENT THAT DELIVERS HIGH-QUALITY PRODUCTS AND SERVICES THAT PROMOTE CONVENIENCE, TRUST, AND PERSONAL SERVICE TO ASSIST OUR MEMBERS IN ACHIEVING THEIR FINANCIAL SUCCESS. 7 7 194 7 2071807 0 0 0 22780042 23840435 1571183 1759644 38163 494345 24389388 26094424 0 0 0 0 8996325 9666209 0 0 0 11525069 13340996 20521394 23007205 3867994 3087219 389195815 429328252 345310221 381378864 43885594 47949388 X CHRISTIAN FINANCIAL SERVICES OVER 44,040 MEMBERS IN METROPOLITAN DETROIT. CHARTERED IN 1950 THE CREDIT UNION'S MISSION IS TO PROVIDE MEMBERS CUSTOMIZED SOLUTIONS TO ENHANCE THEIR FINANCIAL WELL-BEING THROUGH A TRUSTED PARTNERSHIP WITH A DEDICATED TEAM OF PROFESSIONALS FOCUSED ON EXCEEDING THEIR EXPECTATIONS. 0 0 THE CREDIT UNION ORIGINATED $83 MILLION IN LOANS TO MEMBERS DURING 2019. LOANS ARE GENERALLY ORIGINATED AT BELOW MARKET INTEREST RATES HIGHLIGHTING MEMBER LOYALTY. THE CREDIT UNION COMPLETED A SYSTEM CONVERSION IN 2015 WITH ASSOCIATED COSTS IN 2019 OF $348,000 IN ADDITION TO OPERATING AND MAINTENANCE COSTS OF $340,000. THE SYSTEM CONTINUES TO IMPROVE THE MEMBER EXPERIENCE THROUGH THE OFFERING OF PRODUCTS SUCH AS LENDING AND ACCOUNT ORIGINATIONS ONLINE AND MOBILE BANKING. THE CREDIT UNION OFFERS CONVENIENT DELIVERY CHANNELS FOR MEMBERS WHERE WE FULLY ABSORB THE COST OF THE ABILITY TO USE 30,000 ATMS, ACCESS TO THE SHARED BRANCHING NETWORK WITH 5,641 OUTLETS NATIONWIDE, FREE ACCESS TO ONLINE BANKING AND BILL PAYMENT FOR ALL CONSUMERS. 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12814 0 1 194 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X VALLORIE MCBRIDE CPA 5864981592 35100 VAN DYKE AVENUE STERLING HEIGHTS MI 48312 PAUL AVERY SECRETARY 2.00 X 0 0 0 JAMES BANASZAK TREASURER 2.00 X 0 0 0 JAMES BEAUDOIN VICE CHAIRPERSON 2.00 X 0 0 0 WILLIAM AMRHEIN BOARD DIRECTOR 2.00 X 0 0 0 SHELLEY BOEDEKER BOARD DIRECTOR 2.00 X 0 0 0 MIKE DOMZALSKI BOARD CHAIRMAN 2.00 X 0 0 0 FRED ANDARY BOARD DIRECTOR 2.00 X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 40.00 X 399656 0 67051 VALLORIE MCBRIDE CFO 40.00 X 118132 0 23997 DOUGLAS DINNING CHIEF LEGAL COUNSEL 40.00 X 115569 0 39226 JAMES SPESHOCK COO 40.00 X 139225 0 31783 DONNA M ANARGYROS CHIEF LENDING OFFICER 40.00 X 113894 0 25682 DAVID MAURER MANAGER OF NETWORK SECURITY 40.00 X 116771 0 22785 DENNIS BANKER COMMERCIAL LOAN OFFICER 40.00 X 117988 0 16283 1121235 0 226807 9 0 1 0 FISERV INC PO BOX 934057 ATLANTA GA 31193 CORE SYSTEM PROCESSOR 1038740 FINANCIAL FURNISHINGS INC 9834 DIXIE HIGHWAY ANCHORVILLE MI 48004 FURNITURE AND FIXTURES 873914 INNOVATIVE ENVIRONMENTS 35 W SQUARE LAKE ROAD TROY MI 48098 IT EQUIPMENT 697197 THINK STACK 1300 THAMES STREET SUITE 20 BALTIMORE MD 21231 NETWORK SECURITY 564954 AT&T BUSINESS SERVICES PO BOX 5019 CAROL STREAM IL 601975019 PHONE AND DATA LINES 223893 12 INCOME FROM MEMBER LOANS 522100 13613563 13613563 FEES 522100 8155065 8155065 SHARED BRANCHING FEE INCOME 900099 1990148 1990148 NON-MEMBER ATM FEE INCOME 900099 63506 63506 MECHANICAL BREAKDOWN INSURANCE IN 524298 18153 18153 23840435 1769932 1769932 266182 276470 -10288 -10288 -10288 EQUITY IN EARNINGS OF CUSO 522100 494345 494345 494345 26094424 22252685 2071807 1769932 X 608836 7157852 469145 814418 615958 187389 153008 46769 65681 375697 1070532 2041683 755979 100217 190485 2542652 104107 929942 128686 DEBIT/CREDIT CARD EXPEN 1463905 PROVISION FOR LOAN LOSS 850000 LOAN SERVICING 798147 MAINTENANCE 591339 944778 23007205 4595722 4909687 24256927 41016149 2768526 3286754 280845228 287149194 938093 974581 34563749 6120386 12421539 28443363 43869110 46651891 9168912 10814663 242346 142500 10089412 5939470 389195815 429328252 2393453 2268644 10000000 342916768 369110220 345310221 381378864 X 0 0 0 0 43885594 47949388 43885594 47949388 389195815 429328252 X 3087219 898817 77758 X X 0 1 X 1 0 9022918 9022918 19200920 3200291 16000629 6339911 2920095 3419816 28443363 MEMBER SHARES 368424400 POSTRETIREMENT BENEFIT LIABILITY 685820 369110220 X 26084136 0 26084136 10288 10288 26094424 22996917 -10288 -10288 23007205 0 23007205 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSSES ON SALE OF OREO REPORTED AS EXPENSES IN AUDITED FINANCIALS BUT REPORTED AS A REDUCTION OF REVENUE IN THE FORM 990 STATEMENT OF REVENUE 10,288. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSSES ON SALE OF OREO REPORTED AS EXPENSES IN AUDITED FINANCIALS BUT REPORTED AS A REDUCTION OF REVENUE IN THE FORM 990 STATEMENT OF REVENUE -10,288. X 1 1 X X X X X 0 0 0 PATRICIA CAMPBELL PRESIDENT & CEO 297173 0 77360 0 25123 0 19638 0 47413 0 466707 0 0 0 DOUGLAS DINNING CHIEF LEGAL COUNSEL 115319 0 250 0 0 0 8746 0 30480 0 154795 0 0 0 JAMES SPESHOCK COO 119975 0 13328 0 5922 0 9936 0 21847 0 171008 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE TO ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY AT THE 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 AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR AND AS REQUIRED BY THE MICHIGAN CREDIT UNION ACT AND THE BY-LAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED AT A REGULAR BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EMPLOYEES, MANAGEMENT AND BOARD MEMBERS ARE PROVIDED WITH COPIES OF THE POLICIES AND MUST SIGN FOR ACKNOWLEDGMENT. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT/CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS; COMPENSATION SURVEY DATA IS USED. SENIOR MANAGEMENT COMPENSATION IS APPROVED BY PRESIDENT/CEO; COMPENSATION SURVEY DATA IS USED. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENT ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE POSTED IN ALL CREDIT UNION BRANCH LOCATIONS. FORM 990, PART IX, LINE 11G OTHER FEES 65,681. FORM 990, PART IX, LINE 24E MISCELLANEOUS 588,867. ATM EXPENSES 316,684. EDUCATION 39,227. FORM 990, PART XI, LINE 9: AMORTIZATION OF UNREALIZED LOSSES ON POSTRETIREMENT BENEFIT PLAN 77,758. 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.