2025-10-27T12:15:39-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 386066199 TEAM ONE CREDIT UNION TEAM 9897546575 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 VICTORIA D BRYNOLF CFO 9897546575 2025-10-27 1 0 AUBREY CLEGG P01076395 3052328272 2025-10-24 2024 2025-03-06 01:10:19Z DERRICK BARBER 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 54519452 0 X WWW.TEAMONECU.ORG X CREDIT UNION 1935 MI TO MEET THE FINANCIAL NEEDS OF THE COMMUNITIES WE SERVE AND TO MAKE THEM STRONGER. 9 9 211 11 356206 0 0 0 35460755 38751936 2729756 5561498 0 0 38190511 44313434 19000 19000 0 0 13999237 14653024 0 0 0 23329496 26821470 37347733 41493494 842778 2819940 740519118 750653356 678444171 682291630 62074947 68361726 EMPOWERING FINANCIAL DREAMS ANYWHERE - FOR ALL. 0 0 PROVIDE 48,340 MEMBERS WITH REGULAR SAVINGS, SHARE DRAFTS, CERTIFICATES OF DEPOSITS, IRA AND MONEY MARKET ACCOUNTS APPROXIMATING $675,322,000 AS OF DECEMBER 31, 2024. PROVIDE 31,480 LOANS INCLUDING VEHICLE, OVERDRAFT PROTECTION, MORTGAGE, HOME EQUITY, SIGNATURE, CREDIT CARD, STUDENT, AND RECREATIONAL VEHICLE. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, WIRE TRANSFERS, MONEY ORDERS, BILL PAYMENT, OVERDRAFT PROTECTION/COURTESY PAY AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 12697 0 1 211 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X TEAM ONE CREDIT UNION 9897546575 520 HAYDEN ST PO BOX 1260 SAGINAW MI 48606 REBECCA SANCHEZ CHAIRPERSON 1.00 X 0 0 0 TIMOTHY FRITZ VICE CHAIRPERSON 1.00 X 0 0 0 PETER TYSON SECRETARY 1.00 X 0 0 0 CARL HAWKINS TREASURER 1.00 X 0 0 0 PATRICK O'TOOLE DIRECTOR 1.00 X 0 0 0 JAN TOLLEY DIRECTOR 1.00 X 0 0 0 JAN ELBING DIRECTOR 1.00 X 0 0 0 THERON WIGGIS DIRECTOR 1.00 X 0 0 0 JIM FINKBEINER DIRECTOR 1.00 X 0 0 0 DERRICK BARBER PRESIDENT 40.00 X 478397 0 50505 ANNE ARRAND CHIEF OPERATING OFFICER 40.00 X 207083 0 39945 REBECCA GERZSENY CFO 40.00 X 145029 0 7340 VICTORIA BRYNOLF CFO 40.00 X 72042 0 12789 DANA TELL VICE PRESIDENT 40.00 X 290771 0 52350 NANCY DAVIS CHIEF LENDING OFFICER 40.00 X 160204 0 45559 TIMOTHY FERRIO CHIEF EXPERIENCE OFFICER 40.00 X 160524 0 51114 ALEKSANDER GORGIOSKI CHIEF INFORMATION OFFICER 40.00 X 185198 0 16723 JOHN HYATT SENIOR COMMERCIAL LENDER 40.00 X 223877 0 6778 TAYLOR MURRAY CEO OF SERVISTAR 0.00 40.00 X 0 280133 39513 MICHAEL NEILL CLO OF SERVISTAR 0.00 40.00 X 0 226523 21888 KARL BORQUIST CEO OF CU COMPLIANCE CUSO, LLC 0.00 40.00 X 0 208665 24721 SCOTT ALBRECHT VP LEARNING DEVELOP. OF SERVISTAR 0.00 40.00 X 0 148632 22300 1923125 863953 391525 17 0 1 0 MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 DATA PROCESSING 1244463 SHI INTERNATIONAL CORP PO BOX 952121 DALLAS TX 75395 PROVIDING IT PRODUCTS AND SERVICES 1049853 JACK HENRY 663 W HIGHWAY 60 MONETT MO 65708 ATM/CREDIT CARD PROCESSOR AND SUPPORT, I 686773 VISA USA INC PO BOX 742233 LOS ANGELES CA 900742333 CONNECTS CUSTOMERS AND BUSINESS TO ENABL 673297 ALKAMI PO BOX 122223 DALLAS TX 75312 PROVIDING DIGITAL BANKING PLATFORMS 565488 24 LOAN INTEREST INCOME 522100 28453143 28453143 FEE AND OTHER INCOME 522100 9942587 9942587 FINANCE AND INSURANCE 520000 356206 356206 38751936 4851113 4851113 9563603 1352800 9434754 771264 128849 581536 710385 710385 44313434 43957228 356206 0 X 19000 1975573 9329700 59759 2442700 845292 54122 65539 1722113 842566 3601169 2024044 1325285 101586 450550 10395890 1833757 171221 LOAN SERVICING 2426510 PROVISION FOR LOAN LOSS 1084614 OTHER OPERATING EXPENSE 529938 EXAMINATION FEES 102535 90031 41493494 10800868 10962626 519991 260925 10214851 9261792 5033690 501161495 501619417 1887068 1710540 36949553 17995267 20051059 18954286 169273120 133930826 16788691 58915106 187565 97534 9634410 9906614 740519118 750653356 7414485 6969875 671029686 675321755 678444171 682291630 X 0 0 0 0 62074947 68361726 62074947 68361726 740519118 750653356 X 2819940 3622600 -155761 X X 0 1 X 1 0 2938803 2938803 19911021 8160365 11750656 14099729 9834902 4264827 18954286 MUTUAL FUNDS 641563 F FEDERAL HOME LOAN BANK STOCK 1569700 C CUSO INVESTMENTS 13383947 C NEGOTIABLE CERTIFICATES OF DEPOSIT (AFS) 1987211 F CORPORATE BONDS 6499522 F AGENCY SECURITIES 13701610 F TREASURY SECURITIES 78873121 F MORTGAGE-BACKED SECURITIES 17274152 F 133930826 ALLOYA CORPORATE FEDERAL CREDIT UNION 58915106 C 58915106 MEMBER SHARES AND DEPOSITS 675321755 675321755 X 44313434 0 44313434 0 44313434 41493494 0 41493494 0 41493494 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. 1 SCHOLARSHIPS 19 19000 PART I, LINE 2: THE TEAM ONE SCHOLARSHIP PROGRAM IS DESIGNED TO PROVIDE FINANCIAL ASSISTANCE TO LOCAL HIGH SCHOOL SENIORS WHO ARE INTERESTED IN PURSUING A CAREER IN THE HIGH-DEMAND FIELD OF SKILLED TRADES. AS PART OF ITS ONGOING COMMITMENT TO EDUCATION, TEAM ONE CREDIT UNION HAS COMMITTED SCHOLARSHIPS TO STUDENTS WHO MEET THE ELIGIBILITY CRITERIA. TO BE ELIGIBLE TO APPLY FOR A TEAM ONE SCHOLARSHIP, APPLICANTS MUST BE: 1. A HIGH SCHOOL SENIOR 2. A MEMBER OF TEAM ONE CREDIT UNION OR BECOME A MEMBER 3. INTERESTED IN PURSUING A CAREER IN SKILLED TRADES APPLICATIONS ARE ACCEPTED ONLINE THROUGH THE SAGINAW COMMUNITY FOUNDATION WEBSITE AT SAGINAWFOUNDATION.ORG FROM NOVEMBER 1 TO FEBRUARY 9 EACH YEAR. DURING THIS PERIOD, APPLICANTS CAN ACCESS THE APPLICATION LINK ON THE SAGINAW FOUNDATION WEBSITE. BEFORE APPLYING, APPLICANTS ARE RECOMMENDED TO REVIEW THE REQUIRED INFORMATION AND ITEMS NEEDED TO COMPLETE THEIR APPLICATION. ADDITIONAL QUESTIONS CAN BE ADDRESSED BY REVIEWING THE FREQUENTLY ASKED QUESTIONS OR CONTACTING THE SAGINAW COMMUNITY FOUNDATION AT (989) 755-0545. THE DEADLINE TO RETURN COMPLETED SCHOLARSHIP APPLICATIONS TO THE SAGINAW COMMUNITY FOUNDATION IS FEBRUARY 9 EACH YEAR. LATE SUBMISSIONS WILL NOT BE ACCEPTED. AFTER SUBMITTING THEIR APPLICATION, APPLICANTS WILL NOT RECEIVE ANY ADDITIONAL MONITORING OR EVALUATION FROM TEAM ONE CREDIT UNION OR THE SAGINAW COMMUNITY FOUNDATION. THE SELECTION PROCESS WILL BE CONDUCTED INDEPENDENTLY BY THE SAGINAW COMMUNITY FOUNDATION. THE TEAM ONE SCHOLARSHIP PROGRAM AIMS TO SUPPORT LOCAL HIGH SCHOOL SENIORS WHO ARE INTERESTED IN PURSUING A CAREER IN SKILLED TRADES. BY PROVIDING FINANCIAL ASSISTANCE, WE HOPE TO EMPOWER THESE INDIVIDUALS TO ACHIEVE THEIR EDUCATIONAL AND CAREER GOALS. X X X X 1 1 0 DERRICK BARBER PRESIDENT 385035 0 42600 0 50762 0 27877 0 22628 0 528902 0 0 0 DANA TELL VICE PRESIDENT 253563 0 2600 0 34608 0 43988 0 8362 0 343121 0 0 0 TAYLOR MURRAY CEO OF SERVISTAR 0 233602 0 38223 0 8308 0 16574 0 22939 0 319646 0 0 MICHAEL NEILL CLO OF SERVISTAR 0 209016 0 12028 0 5479 0 0 0 21888 0 248411 0 0 ANNE ARRAND CHIEF OPERATING OFFICER 184525 0 2600 0 19958 0 13413 0 26532 0 247028 0 0 0 KARL BORQUIST CEO OF CU COMPLIANCE CUSO, LLC 0 199837 0 0 0 8828 0 0 0 24721 0 233386 0 0 JOHN HYATT SENIOR COMMERCIAL LENDER 96827 0 123577 0 3473 0 6778 0 0 0 230655 0 0 0 TIMOTHY FERRIO CHIEF EXPERIENCE OFFICER 154465 0 2600 0 3459 0 26588 0 24526 0 211638 0 0 0 NANCY DAVIS CHIEF LENDING OFFICER 152758 0 2600 0 4846 0 26371 0 19188 0 205763 0 0 0 ALEKSANDER GORGIOSKI CHIEF INFORMATION OFFICER 181311 0 1600 0 2287 0 10671 0 6052 0 201921 0 0 0 SCOTT ALBRECHT VP LEARNING DEVELOP. OF SERVISTAR 0 129151 0 12028 0 7453 0 9152 0 13148 0 170932 0 0 REBECCA GERZSENY CFO 85198 0 2500 0 57331 0 6375 0 965 0 152369 0 0 0 PART I, LINES 4A-B REBECCA GERZSENY: $48,000 THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457F. THE BENEFITS ACCRUED DURING THE YEAR ENDED DECEMBER 31, 2024 WERE AS FOLLOWS: NANCY DAVIS: $15,469 TIMOTHY FERRIO: $15,500 DANA TELL: $26,000 DERRICK BARBER, THE PRESIDENT/CEO, PARTICIPATES IN A SUPPLEMENTAL RETIREMENT BENEFITS ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. AT SPECIFIED TIMES, THE PARTICIPANT 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 PARTICIPANT. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. DERRICK BARBER PRESIDENT/CEO TO FUND CASD PREMIUMS X 5000000 5033690 0 1 1 5033690 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTEREST PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT 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 PARTICIPANT 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 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 THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS AT THE ANNUAL MEETING. EACH BOARD MEMBER IS ELECTED FOR A THREE-YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B A REVIEW IS CONDUCTED BY THE PRESIDENT/CEO PRIOR TO SUBMISSION TO THE IRS. SUBSEQUENT TO FILING, THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE 990 RETURNS SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES AND THE BOARD OF DIRECTORS ARE REQUIRED TO REVIEW THE POLICY AND SIGN A CONFLICT-OF-INTEREST STATEMENT ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE WITH APPROVAL BY BOARD OR COMPENSATION COMMITTEE. THE BOARD OF DIRECTOR'S EXECUTIVE COMMITTEE COMPLETES A PERFORMANCE APPRAISAL ANNUALLY. SALARY INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS AND ARE DETERMINED BASED ON PERFORMANCE AS WELL AS PEER GROUP. THE CEO PERFORMS ANNUAL EVALUATIONS OF KEY EMPLOYEES AND HAS BEEN GIVEN THE AUTHORITY TO PROVIDE SALARY INCREASES BASED ON PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 24E CORE DEPOSIT AMORTIZATION 90,031. FORM 990, PART XI, LINE 9: NET CHANGE IN UNREALIZED GAINS/(LOSSES) ON POSTRETIREMENT BENEFIT PLAN -155,761. 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. FORM 990, PART IV, LINE 12B THE CREDIT UNION'S AUDITED CONSOLIDATED FINANCIAL STATEMENTS INCLUDED THE BALANCES AND ACTIVITIES OF THE 100% OWNED DISREGARDED ENTITY (TEAM ONE INSURANCE SERVICES) AND DID NOT INCLUDE THE PARTNERSHIP SUBSIDIARIES, NEIGHBORHOOD INCOME SOLUTIONS, SERVISTAR, LLC, CU COMPLIANCE CUSO, LLC AND TEAM FACILITIES, INC. OF WHICH TEAM ONE CREDIT UNION OWNS 33.33% IN EACH. THEREFORE, SCHEDULE D, PARTS XI AND XII HAVE BEEN PREPARED. TEAM ONE INSURANCE SERVICES PO BOX 1260 SAGINAW MI 48606 811492966 FINANCIAL INVESTMENTS AND INSURANCE SALES MI 30319 105624 TEAM ONE CREDIT UNION NEIGHBORHOOD INCOME SOLUTIONS 1100 S BAGLEY ST ALPENA MI 49707 464364566 HOLDING COMPANY MI RELATED 674495 15750049 0 0 0.33330 SERVISTAR LLC 101 N PARK ST TRAVERSE CITY MI 49684 852732958 TRAIN CREDIT UNIONS TO MAXIMIZE PERFOMANCE THROUGH TRAINING AND ENGAGEMENT. MI RELATED -154971 422381 0 0 0.33330 CU COMPLIANCE CUSO LLC (DBA COMPLY-YES) 7415 CHICAGO RD STE 103 WARREN MI 48092 843977803 PROVIDING COMPLIANCE SERVICES MI RELATED -134845 46084 0 0 0.33330 TEAM FACILLITIES INC 1146 E BIG BEAVER RD TROY MI 48063 932575714 PROVIDE FACILITIES MANAGEMENT MI RELATED -41985 50498 0 0 0.33330 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 SERVISTAR LLC Q 1221014 ACTUAL EXPENSE (PAYROLL) CU COMPLIANCE CUSO LLC Q 803260 ACTUAL EXPENSE (PAYROLL) TEAM FACILITIES INC P 131487 ACTUAL EXPENSE (MAINTENANCE) NEIGHBORHOOD MORTGAGE FACILITIES P 168629 ACTUAL EXPENSE (MORTGAGE SERVICES