2018-11-14T10:02:57-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 380936455 LAKES COMMUNITY CREDIT UNION LAKE 2488144000 350 N PARK BLVD LAKE ORION MI 48362 CAROLYN CHEVRIER PRESIDENT/CEO 2488144000 2018-11-13 1 JACK TRACY P01974742 2482443000 68.59.28.7 2018-11-13 19:56:56 ES P 5C10503600C6A44598C4573B9F16AA1A88D12859 EEF4FE8CDEF09A7814C765BD24A2772B28E60280 2017 2019-02-21 02:37:17Z CAROLYN CHEVRIER 350 N PARK BLVD LAKE ORION MI 48362 4130733 0 X WWW.LAKESCOMMUNITYCU.ORG X 1937 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 9 9 32 12 15163 -6091 0 0 3482233 3798729 255485 332004 0 0 3737718 4130733 0 0 0 0 1548666 1596831 0 0 0 2280707 2329610 3829373 3926441 -91655 204292 90479467 94805158 80468765 84613926 10010702 10191232 PROVIDE HIGH QUALITY PRODUCTS AND SERVICES TO ENHANCE THE ECONOMIC AND SOCIAL WELL BEING OF OUR MEMBERS/OWNERS AND THE COMMUNITY. 0 0 PROVIDE 10,174 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CHRISTMAS CLUB, AND MONEY MARKET ACCOUNTS TOTALING 19,329. PROVIDE 6,583 LOANS INCLUDING NEW/USED VEHICLE, RECREATIONAL VEHICLE, UNSECURED, OVERDRAFT LINE OF CREDIT, SHARE SECURED, INDIRECT, BUSINESS, CREDIT CARD, MORTGAGE, HOME EQUITY, AND PARTICIPATION. OFFER AUTOMATED TELLER MACHINES, CHECK CASHING, MONEY ORDERS, DEBIT CARDS, WIRE TRANSFERS, OVERDRAFT PROTECTION/COURTESY PAY, AND INSURANCE PRODUCTS TO ALL ELIGIBLE MEMBERS. 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1367 0 1 32 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LAKES COMMUNITY CREDIT UNION 2488144000 350 N PARK BLVD LAKE ORION MI 48362 GEORGE WIEGAND CHAIRPERSON 2.00 X 0 0 0 JAMES BATTISHILL VICE CHAIRPERSON 2.00 X 0 0 0 KRISTY CLARK SECRETARY 2.00 X 0 0 0 MARK BRACKON TREASURER 2.00 X 0 0 0 JOHN CLARK DIRECTOR 2.00 X 0 0 0 LOUAY NAAMAN DIRECTOR 2.00 X 0 0 0 KRISTIN PAWLOWSKI DIRECTOR 2.00 X 0 0 0 STEVEN TAYLOR DIRECTOR 2.00 X 0 0 0 DONALD HEYDENS DIRECTOR 2.00 X 0 0 0 CAROLYN CHEVRIER PRESIDENT/CEO 40.00 X 123666 0 20704 ANNETTE SWIDWINSKI CLO/CFO (JAN-SEP) 40.00 X 55294 0 6316 SAMIR SHABANDER CFO (OCT-DEC) 40.00 X 25962 0 2256 204922 0 29276 1 0 0 0 VANTIV 8500 GOVERNORS HILL DRIVE SYMMES TWP OH 45249 ATM & DEBIT CARD PROCESSING 284307 CUANSWERS 6000 28TH STREET SE SUITE 100 GRAND RAPIDS MI 49546 DATA PROCESSING 240779 2 LOAN INTEREST INCOME 522100 2754888 2754888 FEE AND OTHER INCOME 522100 1028678 1028678 NON-MEMBER INSURANCE I 524298 12554 12554 NON-MEMBER ATM INCOME 900099 2609 2609 3798729 332004 332004 4130733 4115570 15163 0 234198 1011044 65190 191136 95263 1813 25049 199333 74964 549346 275450 264433 6743 65193 136105 115169 33982 PROVISION FOR LOAN LOSS 388976 LOAN SERVICING 158894 EXAMINATION FEE 20520 MISCELLANEOUS OPERATING 13640 3926441 836398 1224069 1897482 720654 54877594 66333478 139442 235044 4024703 236549 3686642 3788154 22200660 18032875 5520897 3228904 1320352 1241980 90479467 94805158 776445 734951 79692320 83878975 80468765 84613926 X 0 0 0 0 10010702 10191232 10010702 10191232 90479467 94805158 204292 -23762 0 X X 0 1 X 1 0 1506322 1506322 2063207 140068 1923139 184877 15183 169694 270297 81298 188999 3788154 CERTIFICATES OF DEPOSIT 3225000 C INVESTMENTS-AFS 14518875 F CUSO INVESTMENTS 289000 C 18032875 MEMBER SHARES AND DEPOSITS 83878975 83878975 X 4130733 0 4130733 0 4130733 3926441 0 3926441 0 3926441 PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES, BUT STILL MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UNRELATED BUSINESS INCOME IS INCOME FROM A TRADE OR BUSINESS REGULARLY CARRIED ON BY A TAX EXEMPT ORGANIZATION THAT IS NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S EXEMPT PURPOSES. 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 A PERSON EXPRESSES INTEREST AND COMPLETES AN APPLICATION FOR A BOARD OF DIRECTORS SEAT. APPLICATIONS ARE REVIEWED BY A NOMINATING COMMITTEE, IF SELECTED, BACKGROUND CHECKS ARE PERFORMED AND CREDIT CREDIT REPORTS ARE PULLED. THE BOARD OF DIRECTORS ARE VOTED IN AT THE ANNUAL MEETING FOR THREE YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B CREDIT UNION DECISIONS THAT REQUIRE MEMBERSHIP APPROVAL ARE MERGERS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE 990 RETURN PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE REPORTED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 WAGES ARE DETERMINED BY A SPECIFIC WAGE COMMITTEE WHICH REVIEWS COMPENSATION REPORTS PROVIDED BY THE MICHIGAN CREDIT UNION LEAGUE. THEY ALSO REVIEW THE DUTIES AND EXPECTATIONS OF THE JOB PERFORMANCE AND ACHIEVEMENT THAT MUST BE MET (OR EXCEEDED) FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 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.