2018-11-14T12:55:30-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 386060726 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 2699689251 PO BOX 140 BATTLE CREEK MI 490160140 MICHAEL OGRIN CFO 2699689251 2018-11-14 1 JOSEPH A ZITO P00648440 2482443000 64.95.240.2 2018-11-14 10:55:57 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z KELLOGG COMMUNITY CREDIT UNION TRACY MILLER PO BOX 140 BATTLE CREEK MI 490160140 25215616 0 X WWW.KELLOGGCCU.ORG X 1941 MI KCCU IS A FULL-SERVICE FINANCIAL INSTITUTION SERVING FAMILIES FOR DECADES. YOUR CREDIT UNION PROVIDES MORE OPPORTUNITY THAN OTHER FINANCIAL INSTITUTIONS BECAUSE IT IS OWNED AND GOVERNED BY THE PEOPLE WHO UTILIZE ITS PRODUCTS AND SERVICES. EVERY MEMBER OWNS A SHARE OF THE CREDIT UNION AND THE CREDIT UNION OPERATES TO PROMOTE THE FINANCIAL WELL-BEING OF ALL ITS MEMBERS. 9 9 153 11 53775 -59743 0 0 11929100 22083868 1565652 3091471 0 40277 13494752 25215616 0 0 0 0 3585199 6824512 0 0 0 6298606 11059276 9883805 17883788 3610947 7331828 488004374 508160799 418427094 431526970 69577280 76633829 X KCCU IS A FULL-SERVICE FINANCIAL INSTITUTION SERVING FAMILIES FOR DECADES. YOUR CREDIT UNION PROVIDES MORE OPPORTUNITY THAN OTHER FINANCIAL INSTITUTIONS BECAUSE IT IS OWNED AND GOVERNED BY THE PEOPLE WHO UTILIZE ITS PRODUCTS AND SERVICES. EVERY MEMBER OWNS A SHARE OF THE CREDIT UNION, AND THE CREDIT UNION OPERATES TO PROMOTE THE FINANCIAL WELL-BEING OF ALL ITS MEMBERS. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 10110 0 1 153 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 0 0 1 1 1 0 X MICHAEL OGRIN 8008545421 PO BOX 140 BATTLE CREEK MI 490160140 HENRY P ROLFE CHAIRMAN 1.00 X 0 0 0 RICHARD A SMITH V. CHAIRMAN 1.00 X 0 0 0 LARRY V HAWBLITZ SECRETARY 1.00 X 0 0 0 ROGER E PITZER TREASURER 1.00 X 0 0 0 MELISSA MILLER DIRECTOR 1.00 X 0 0 0 E PAUL CHAMBERS DIRECTOR 1.00 X 0 0 0 JAMES E DEMAREST DIRECTOR 1.00 X 0 0 0 DANVILLE PRATHER DIRECTOR 1.00 X 0 0 0 STEVE J SHEPARD DIRECTOR 1.00 X 0 0 0 TRACY MILLER CEO 40.00 X 281672 0 35041 MICHAEL OGRIN CFO 40.00 X 168767 0 8820 MARIA KELLER COO 40.00 X 105186 0 27810 KIRK SCHWARZ SR. BUSINESS SERVICES MGR 40.00 X 108417 0 25012 JERALD PAWLOWICZ FINANCIAL ADVISOR 40.00 X 104247 0 5301 768289 0 101984 5 0 1 0 VANTIV LLC 8500 GOVERNORS HILL DR SYMMES TOWNSHIP OH 45249 DEBIT/CREDIT CARD PROCESSOR 942040 CU ANSWERS 6000 28TH ST STE 100 GRAND RAPIDS MI 49546 CORE PROCESSOR 641527 VISA USA INC PO BOX 742233 LOS ANGELES CA 90074 DEBIT/CREDIT CARD PROCESSOR 403760 DIEBOLD INC PO BOX 643543 PITTSBURGH PA 15264 ATM EQUIPMENT AND SERVICE 333570 AUTOMATED BUSINESS MACHINES 5258 ENTERPRISE BLVD TOLEDO OH 43612 BUSINESS EQUIPMENT AND SERVICES 208283 10 INCOME ON LOANS 522100 14566570 14566570 FEES/CHARGES/OTHER 522100 7463523 7463523 UNRELATED BUSINESS INCOME 522100 53775 53775 22083868 3091471 3091471 OTHER NON OPERATING INCOME 522100 40277 40277 40277 25215616 22070370 53775 3091471 X 494300 4879954 315300 691218 443740 7841 162002 81952 124591 696789 1427429 136756 738664 54514 60338 2440466 36834 906322 92324 ATM EXPENSES 1369427 LOAN SERVICING 1289761 VISA EXPENSES 607365 MAINTENANCE 417302 408599 17883788 8841540 3493647 4367302 15614974 3060927 3117449 280951670 316071526 709868 812631 21474123 10404691 11531794 11069432 95864665 79820185 74683500 69394500 85591 64200 7907517 8702255 488004374 508160799 7246572 8995489 411180522 422531481 418427094 431526970 X 0 0 0 0 69577280 76633829 69577280 76633829 488004374 508160799 X 7331828 -304401 29122 X X 0 1 X 1 0 1316262 1316262 8446919 2901323 5545596 1931202 1110393 820809 9779740 6392975 3386765 11069432 FHLB STOCK 1765500 C CERTIFICATES OF DEPOSIT 67029000 C CENCORP PCC 600000 C 69394500 MEMBER SHARES 422531481 422531481 X 25215616 0 25215616 0 25215616 17883788 0 17883788 0 17883788 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL AND STATE INCOME TAXES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED 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 THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE (IRS) ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA (TAM) TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. X X 0 0 0 TRACY MILLER CEO 248269 0 33043 0 360 0 6753 0 28288 0 316713 0 0 0 MICHAEL OGRIN CFO 150147 0 18305 0 315 0 1320 0 7500 0 177587 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A BOARD MEMBERS ARE ELECTED BY CREDIT UNION MEMBERSHIP IF ELECTION IS NEEDED. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND FINANCIAL OPERATIONS MANAGER ARE RESPONSIBLE FOR OVERSEEING THE COMPLETION AND REVIEW OF THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL REVIEWS ARE CONDUCTED ALONG WITH SALARY COMPARISON OF CREDIT UNIONS IN OUR ASSET SIZE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E MISCELLANEOUS 320,939. PROVISION FOR LOAN LOSSES 87,660. FORM 990, PART XI, LINE 9: POST RETIREMENT BENEFITS 29,122. 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. KCFCU PROPERTIES LLC PO BOX 140 BATTLE CREEK MI 49016 274828583 BRANCH AND FACILITY RENTAL MI 67745 2404164 KCCU KCFCU SERVICES LLC PO BOX 140 BATTLE CREEK MI 49016 274828478 STAFFING SERVICES FOR CREDIT UNION MI 0 7011 KCCU KCFCU INSURANCE AGENCY LLC PO BOX 140 BATTLE CREEK MI 49016 452600909 INSURANCE SERVICES MI 7547 241489 KCCU