2018-11-08T16:50:14-06:00 2017-12-31 382492570 DOEREN MAYHEW 305 W BIG BEAVER ROAD TROY MI 48084 990 2017-01-01 381464920 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN-UNIVERSITY OF MICHIGAN CU CRED 7346628200 340 E HURON ANN ARBOR MI 48104 TOMAS KUSLIKIS VP OF ACCOUNTING AND FINANCE 7346628200 2018-11-08 1 ROBERT PARKS CPA P00740435 2482443000 64.95.240.2 2018-11-08 11:08:54 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A7DB26C3BB201601930FCFA0C4651552B54C26A2 2017 2019-02-21 02:37:17Z TIFFANY FORD 340 E HURON ANN ARBOR MI 48104 68175910 0 X WWW.UMCU.ORG X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 10 10 206 10 111483 -38513 0 0 28943862 34356746 2325373 2364947 1009637 1356950 32278872 38078643 0 0 0 0 10560267 11908575 0 0 0 15964251 18801610 26524518 30710185 5754354 7368458 729309577 793668991 663762782 719920956 65546795 73748035 FINANCIAL SERVICES. THE UNIVERSITY OF MICHIGAN CREDIT UNION IS A FINANCIAL INSTITUTION CHARTERED IN THE STATE OF MICHIGAN. THE CREDIT UNION PROVIDES A WIDE RANGE OF FINANCIAL SERVICES TO THE MEMBER/OWNERS AT A REASONABLE COST. 0 0 PROVIDE 87,051 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, CLUB, AND BUSINESS ACCOUNTS TOTALING 168,872. PROVIDE 56,769 LOANS INCLUDING VEHICLE, CREDIT CARD, UNSECURED, STUDENT, INDIRECT, RECREATIONAL VEHICLE, MORTGAGE, BUSINESS, OVERDRAFT LINES OF CREDIT, AND CREDIT BUILDER. OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, CHECK CASHING, BILL PAY, OVERDRAFT PROTECTION/COURTESY PAY, VARIOUS INSURANCE AND INVESTMENT PRODUCTS TO ALL ELIGIBLE MEMBERS. 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 8657 0 1 206 1 1 1 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X UNIVERSITY OF MICHIGAN CREDIT UNION 7346628200 340 E HURON ANN ARBOR MI 48104 PAUL KIRSCH CHAIRPERSON 3.00 X X 0 0 0 JEFFERY FRUMKIN VICE CHAIRPERSON 3.00 X X 0 0 0 FRANK CIANCIOLA SECRETARY 3.00 X X 0 0 0 JAMES MIDDLEMAS DIRECTOR 3.00 X X 0 0 0 SUSAN MCCLANAHAN DIRECTOR 3.00 X 0 0 0 VICTORIA BENNETT DIRECTOR 3.00 X 0 0 0 KAREN PARKER TREASURER 3.00 X 0 0 0 SHAWN POLLACK DIRECTOR 3.00 X 0 0 0 EARL BELL DIRECTOR 3.00 X 0 0 0 TIFFANY FORD PRESIDENT/CEO 40.00 X 514323 0 19412 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 40.00 X 140623 0 10914 PATRICIA KEENE VP OF LENDING 40.00 X 169732 0 18906 DEANNE RAMOS VP OF BRANCH OPERATIONS 40.00 X 118773 0 10240 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 40.00 X 179788 0 3740 TINA HAMILTON AVP OF EBRANCH 40.00 X 131671 0 10598 1254910 0 73810 6 0 1 0 JS VIG CONSTRUCTION COMPANY 15040 CLEAT STREET PLYMOUTH MI 48170 BUILDING CONSTRUCTION 578370 DIEBOLD PO BOX 643543 PITTSBURGH PA 152643543 ATM MAINTENANCE/CONTRACTS 574484 IMG PO BOX 16533 PALATINE IL 60055 ADVERTISING AGREEMENT 532050 IDS 747 EAST WHITCOMB AVE MADISON HEIGHTS MI 48071 BANK STATEMENTS & NOTICES 353660 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 BANKING SOFTWARE 265937 8 LOAN INTEREST 522100 24040769 24040769 FEE AND OTHER INCOME 522100 10315977 10315977 34356746 2392248 2392248 828454 0 828454 828454 828454 30069966 30097267 -27301 -27301 -27301 NON-OPERATING INCOME 522100 417013 417013 NON-MEMBER ATM FEE INCOME 900099 111483 111483 528496 38078643 35574912 111483 2392248 X 873910 8417666 558827 1338481 719691 39974 48386 447477 1584431 795257 686025 1224803 40264 87235 920225 1408304 174245 PROVISION FOR LOAN LOSS 3578885 VISA EXPENSE 3416021 MAINTENANCE 1336950 LOAN SERVICING 1202403 1810725 30710185 5260348 5390543 38608141 26937340 4492432 4460563 465488917 573870467 1011151 1032113 45923769 12937866 25557489 32985903 171249237 133526639 6356362 4864613 234438 181565 11051062 10419245 729309577 793668991 9270917 8486823 654491865 711434133 663762782 719920956 X 0 0 0 0 65546795 73748035 65546795 73748035 729309577 793668991 X 7368458 790889 41893 X X 0 1 X 1 0 14419774 14419774 19464288 3915162 15549126 2330438 1254067 1076371 9709269 7768637 1940632 32985903 MEMBER SHARES 711434133 711434133 X 38078643 0 38078643 0 38078643 30710185 0 30710185 0 30710185 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION IS SUBJECT TO URELATED BUSINESS INCOME TAX. THE NET UNRELATED BUSINESS INCOME TAX IS IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE. X X 0 0 0 TIFFANY FORD PRESIDENT/CEO 375593 0 105000 0 33730 0 4298 0 15114 0 533735 0 0 0 TOMAS KUSLIKIS SR VP OF ACCOUNTING AND FINAN 112639 0 15000 0 12984 0 1423 0 9491 0 151537 0 0 0 PATRICIA KEENE VP OF LENDING 134052 0 15000 0 20680 0 1855 0 17051 0 188638 0 0 0 JULIE WIGLEY VP OF BRAND & TALENT DEVEL 121867 0 15000 0 42921 0 1881 0 1859 0 183528 0 0 0 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 ARE ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN CREDIT UNION DECISIONS ARE SUBJECT TO MEMBER APPROVAL SUCH AS CHART CONVERSIONS AND MERGERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE VP OF ACCOUNTING AND FINANCE 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 A REVIEW OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS CONDUCTED ANNUALLY BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 AN OUTSIDE FIRM SPECIALIZING IN COMPENSATION BENCHMARKS IS USED TO SET GUIDELINES FOR SALARY RANGE LEVELS BASED ON COMPETITION AND MARKET RATES. THE SALARY STRUCTURE IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED MONTHLY. ALL OTHER DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 447,477. FORM 990, PART XI, LINE 9: OCI ADJUSTMENT-POSTRETIREMENT HEALTHCARE PLAN 41,893. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR.