CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1796409)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-15
- IRS object ID
- 201943199349318184
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-15T14:25:19-06:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 305 W BIG BEAVER ROAD | AddressLine1Txt |
| City | TROY | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48084 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381796409 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNIONS CHARTERED IN THE STATE OF | BusinessNameLine1Txt |
| Business Name Line2 | MICHIGAN FRANKENMUTH CREDIT UNION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CRED | BusinessNameControlTxt |
| Phone | 9894971600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 209 | AddressLine1Txt |
| City | FRANKENMUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48734 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VICKIE SCHMITZER | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 9894971623 | PhoneNum |
| Signature | 2019-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JACK TRACY | PreparerPersonNm |
| PTIN | P01974742 | PTIN |
| Phone | 2482443000 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 104.11.88.150 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-11-11 | IPDt |
| IP Tm | 23:56:13 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | A7DB26C3BB201601930FCFA0C4651552B54C26A2 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-03-31 21:24:44Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | VICKIE SCHMITZER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O BOX 209 | AddressLine1Txt |
| City | FRANKENMUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48734 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $46,982,368 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FRANKENMUTHCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1964 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 271 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $150,172 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $36,942,616 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $44,958,969 | CYProgramServiceRevenueAmt |
| PY Investment Income | $626,777 | PYInvestmentIncomeAmt |
| CY Investment Income | $975,555 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$103,634 | PYOtherRevenueAmt |
| CY Other Revenue | -$45,606 | CYOtherRevenueAmt |
| PY Total Revenue | $37,465,759 | PYTotalRevenueAmt |
| CY Total Revenue | $45,888,918 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $11,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $10,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $12,302,579 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $16,478,863 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $16,824,385 | PYOtherExpensesAmt |
| CY Other Expenses | $23,565,634 | CYOtherExpensesAmt |
| PY Total Expenses | $29,138,464 | PYTotalExpensesAmt |
| CY Total Expenses | $40,054,497 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $8,327,295 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,834,421 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $567,059,424 | TotalAssetsBOYAmt |
| Total Assets EOY | $651,460,923 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $507,004,031 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $585,506,773 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $60,055,393 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $65,954,150 | NetAssetsOrFundBalancesEOYAmt |
| Mission | PROVIDE SAFE, CONVENIENT, COST EFFECTIVE SERVICES FOR THE FINANCIAL WELL BEING OF THE CREDIT UNION AND ITS MEMBERS. AND TO GROW TRUSTED RELATIONSHIPS BY PROVIDING PERSONALIZED FINANCIAL SOLUTIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE 45,727 MEMBERS WITH SHARES, SHARE DRAFTS, BUSINESS CHECKING, MONEY MARKET, CLUB, HEALTH SAVINGS, IRA AND CERTIFICATE OF DEPOSIT ACCOUNTS TOTALING 98,467. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE 40,498 SHARE SECURED, STUDENT, SIGNATURE, PAYMENT SHAVER, BUSINESS, HOME EQUITY, LINE OF CREDIT, NEW AND USED VEHICLE, RECREATIONAL VEHICLE, HOME IMPROVEMENT, CREDIT CARD, DRIVING SENSE AND MORTGAGE LOANS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, SHARED BRANCHING, TRAVELERS CHECKS, MONEY ORDERS, COURTESY PAY, WIRE TRANSFERS, GIFT CHECKS, BILL PAY AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 12207 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 271 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKENMUTH CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9894971600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 580 N MAIN ST | AddressLine1Txt |
| City | FRANKENMUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48734 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| PETER BENDER | ||||||||
| CHAIRPERSON | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| CHERYL LOEFFLER | ||||||||
| VICE CHAIRPERSON | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| RICHARD REIF | ||||||||
| SECRETARY | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| BRIAN DIXON | ||||||||
| TREASURER | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| TIMOTHY HILDNER | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| JILL CATTERFELD | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHAEL FASSEZKE | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| TIFFANY LOBODZINSKI | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| AMY ZEHNDER-GROSSI | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $0 | $0 | $0 | |||
| VICKIE SCHMITZER | ||||||||
| CEO | 56.48 | $545,226 | $0 | $33,186 | Yes (X) | |||
| DONNA HAUBENSTRICKER | ||||||||
| VP OF FINANCE | 45.62 | $212,258 | $0 | $26,800 | Yes (X) | |||
| VICTORIA DEGRACE | ||||||||
| COLLECTIONS MANAGER | 43.10 | $160,716 | $0 | $10,182 | Yes (X) | |||
| BRAD GNATKOWSKI | ||||||||
| MORTGAGE ORIGINATOR | 40.00 | $154,630 | $0 | $15,502 | Yes (X) | |||
| WILLIAM WATCHORN | ||||||||
| MORTGAGE ORIGINATOR | 40.00 | $183,291 | $0 | $10,967 | Yes (X) | |||
| DEBRA BAUER | ||||||||
| DIRECTOR OF MEMBER SERVICE | 46.71 | $119,264 | $0 | $20,094 | Yes (X) | |||
| JAMES BICKEL | ||||||||
| VP OF BUSINESS SERVICES | 40.00 | $121,969 | $0 | $13,297 | Yes (X) | |||
| HOLLIE BRITTON | ||||||||
| VP OF LENDING | 40.00 | $119,455 | $0 | $22,601 | Yes (X) | |||
| BRIDGET COOK | ||||||||
| MORTGAGES MANAGER | 40.00 | $113,407 | $0 | $12,895 | Yes (X) | |||
| STEVEN MASKER | ||||||||
| MEMBER INVESTMENT CENTER MANAGER | 40.00 | $110,965 | $0 | $12,865 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,841,181 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $178,389 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 11 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SPENCE BROTHERS | |||||
| 203 S WASHINGTON AVE SUITE 360 | SAGINAW | MI | 48607 | CONSTRUCTION | $6,160,521 |
| CUANSWERS | |||||
| 6000 28TH STREET SE SUITE 100 | GRAND RAPIDS | MI | 49546 | DATA PROCESSING | $1,428,891 |
| TSSF ARCHITECTS INC | |||||
| 122 N WASHINGTON AVENUE | SAGINAW | MI | 48607 | ARCHITECT | $1,100,968 |
| INFORMA BUSINESS SYSTEMS | |||||
| 5170 HARTSHORN DRIVE | FLUSHING | MI | 48433 | ATM/ITM SERVICES | $939,737 |
| CO-OP | |||||
| 9692 HAVEN AVENUE | RANCHO CUCAMONGA | CA | 91730 | DEBIT AND CREDIT PROCESSING | $467,994 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 21 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST INCOME | 522100 | $29,377,062 | $29,377,062 | |
| FEE AND OTHER INCOME | 522100 | $15,431,735 | $15,431,735 | |
| NON-MEMBER ATM INCOME | 900099 | $91,635 | $91,635 | |
| NON-MEMBER INSURANCE INCOME | 524298 | $52,662 | $52,662 | |
| NON-MEMBER SHARED BRANCH INCOME | 522100 | $5,875 | $5,875 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $44,958,969 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,080,224 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,080,224 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $298,575 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $344,181 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$45,606 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$45,606 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$45,606 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $644,600 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $749,269 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$104,669 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$104,669 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$104,669 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $45,888,918 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $45,738,746 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $150,172 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,352,758 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,565,927 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $558,580 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,922,720 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,078,878 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $165,837 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,857 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,687 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,673 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $757,604 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,029,155 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $476,919 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,290,342 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,402 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $306,388 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,622,520 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,093,168 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $208,245 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $5,853,254 |
| OTHER OPERATING EXPENSE | $2,826,497 |
| LOAN SERVICING | $1,293,741 |
| EXAMINATION FEES & ASSO | $210,345 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,054,497 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,778,862 | BOYAmt |
| EOY | $8,751,411 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,571,129 | BOYAmt |
| EOY | $22,438,905 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,429,180 | BOYAmt |
| EOY | $2,667,910 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $2,907,171 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $459,972,563 | BOYAmt |
| EOY | $525,018,882 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $780,483 | BOYAmt |
| EOY | $868,615 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $53,436,134 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,988,314 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,809,346 | BOYAmt |
| EOY | $45,447,820 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,048,533 | BOYAmt |
| EOY | $19,929,197 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,222,714 | BOYAmt |
| EOY | $3,263,858 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $5,040,545 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,446,614 | BOYAmt |
| EOY | $15,126,609 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $567,059,424 | BOYAmt |
| EOY | $651,460,923 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,285,240 | BOYAmt |
| EOY | $7,354,066 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,275,000 | BOYAmt |
| EOY | $31,052,877 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $475,443,791 | BOYAmt |
| EOY | $547,099,830 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $507,004,031 | BOYAmt |
| EOY | $585,506,773 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,055,393 | BOYAmt |
| EOY | $65,954,150 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,055,393 | BOYAmt |
| EOY | $65,954,150 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $567,059,424 | BOYAmt |
| EOY | $651,460,923 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $5,834,421 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $64,336 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,787,681 | OtherCostOrOtherBasisAmt |
| Book Value | $4,787,681 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $38,327,560 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,596,741 | DepreciationAmt |
| Book Value | $33,730,819 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,831,080 | OtherCostOrOtherBasisAmt |
| Depreciation | $264,232 | DepreciationAmt |
| Book Value | $1,566,848 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,489,813 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,127,341 | DepreciationAmt |
| Book Value | $5,362,472 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $45,447,820 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES AND DEPOSITS | Desc |
| Amt | $547,099,830 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $547,099,830 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $46,377,922 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $46,377,922 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$489,004 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$489,004 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $45,888,918 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $40,543,501 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $489,004 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $489,004 | ExpensesNotReportedAmt |
| Expenses Subtotal | $40,054,497 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $40,054,497 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED 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 DIRECTLY RELATED TO ITS EXEMPT PURPOSES. ADDITIONALLY, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. |
| 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 -344,181. GAIN ON SALE OF INVESTMENTS INCLUDED IN OTHER OPERATING REVENUE ON AUDITED FINANCIAL STATEMENTS -104,669. CUSO INCOME IN OTHER OPERATING INCOME ON AUDITED FINANCIAL STATEMENTS -40,154. |
| 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 344,181. GAIN ON SALE OF INVESTMENTS INCLUDED IN OTHER OPERATING REVENUE ON AUDITED FINANCIAL STATEMENTS 104,669. CUSO INCOME IN OTHER OPERATING INCOME ON AUDITED FINANCIAL STATEMENTS 40,154. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 20 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | EACH YEAR THE CREDIT UNION AWARDS SEVEN SCHOLARSHIPS ANNUALLY TO SEVEN SENIORS, WHO ARE MEMBERS OF THE CREDIT UNION, THAT ARE GRADUATING FROM HIGH SCHOOL. THE INDIVIDUAL RECEIVES $500 EACH YEAR THEY ARE ATTENDING COLLEGE FOR A PERIOD OF 4 YEARS. THE SELECTION IS BASED ON ACHIEVEMENTS IN TWO AREAS. THEY MUST BE INVOLVED IN EXTRA-CURRICULAR ACTIVITES AND SUBMIT A WRITTEN ESSAY ON A TOPIC CHOSEN BY THE CREDIT UNION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VICKIE SCHMITZER | ||||||||||||||
| CEO | $345,216 | $0 | $200,010 | $0 | $0 | $0 | $10,500 | $0 | $22,686 | $0 | $578,412 | $0 | $0 | $0 |
| DONNA HAUBENSTRICKER | ||||||||||||||
| VP OF FINANCE | $179,502 | $0 | $32,756 | $0 | $0 | $0 | $8,509 | $0 | $18,291 | $0 | $239,058 | $0 | $0 | $0 |
| VICTORIA DEGRACE | ||||||||||||||
| COLLECTIONS MANAGER | $106,084 | $0 | $54,632 | $0 | $0 | $0 | $7,553 | $0 | $2,629 | $0 | $170,898 | $0 | $0 | $0 |
| BRAD GNATKOWSKI | ||||||||||||||
| MORTGAGE ORIGINATOR | $33,134 | $0 | $121,496 | $0 | $0 | $0 | $7,653 | $0 | $7,849 | $0 | $170,132 | $0 | $0 | $0 |
| WILLIAM WATCHORN | ||||||||||||||
| MORTGAGE ORIGINATOR | $24,884 | $0 | $158,407 | $0 | $0 | $0 | $7,975 | $0 | $2,992 | $0 | $194,258 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | CHARTER TRAVEL IS USED ONLY IF NECESSARY FOR BUSINESS. |
| PART I, LINE 4B | THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO VICKIE SCHMITZER, CEO THROUGH AN ARRANGEMENT REFERRED TO AS "COLLATERAL ASSIGNED SPLIT DOLLAR." THE CASH SURRENDER VALUE OF THE LIFE INSURANCE POLICY WAS $1,322,232 AT DECEMBER 31, 2018. 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 PARTICIPANT. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | VICKI SCHMITZER | PersonNm |
| Relationship With Org | CEO | RelationshipWithOrgTxt |
| Loan Purpose | RETIREMENT DEATH BENEFIT | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $2,907,171 | OriginalPrincipalAmt |
| Balance Due | $2,907,171 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $2,907,171 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| BRANDON SCHMITZER HEAD OF MAINTENA | |||
| CREDIT UNION EMPLOYEE WITH FAMILY RELATIONSHIP WITH THE CEO | $100,391 | EMPLOYEE COMPENSATION AND BENEFITS | 0 |
| KARI SCHMITZER HR DIRECTOR | |||
| CREDIT UNION EMPLOYEE WITH FAMILY RELATIONSHIP WITH THE CEO | $106,387 | EMPLOYEE COMPENSATION AND BENEFITS | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCH L, PART II | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 MEMBERS VOTING AT THE ANNUAL MEETING FOR 3 YEAR TERMS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE CREDIT UNION NEEDS MEMBER APPROVAL FOR MERGERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 IS REVIEWED BY THE CEO PRIOR TO FILING. SUBSEQUENT TO FILING, THE BOARD OF DIRECTORS AND AUDIT COMMITTEE IS PROVIDED WITH A COPY OF THE 990 RETURNS SUBMITTED. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY IS REVIEWED AT THE ORGANIZATIONAL MEETING AND MONITORED BY THE INTERNAL COMPLIANCE OFFICER. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION COMMITTEE ESTABLISHES COMPENSATION FOR CEO USING INDEPENDENT CONSULTANT AND SURVEYS. THE COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. THE VICE PRESIDENT OF FINANCE'S COMPENSATION IS DETERMINED BY THE CEO WITH APPROVAL FROM THE BOARD BASED ON CUES AND MI CREDIT UNION LEAGUE SURVEYS AND BONUS PAID BY GOALS BEING MET. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE CREDIT UNION LOBBY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. |
| 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. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MY MEMBER INSURANCE AGENCY | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 209 | AddressLine1Txt |
| City | FRANKENMUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49734 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 473157237 | EIN |
| Primary Activities | INSURANCE SALES | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Total Income | -$522,218 | TotalIncomeAmt |
| End Of Year Assets | $6,139,626 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRANKENMUTH CREDIT UNION | BusinessNameLine1Txt |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEIGHBORHOOD INCOME SOLUTIONS | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 S BAGLEY ST | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464364566 | EIN |
| Primary Activities | HOLDING COMPANY | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Predominant Income Type | RELATED | PredominantIncomeTypeTxt |
| Share Of Total Income | $450,329 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $6,828,065 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 0.33330 | OwnershipPct |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |