CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1305916)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2018-06-22
- IRS object ID
- 201801739349300800
- Schema version
- 2017v2.2
- 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 | 2018-06-22T08:39:56-05:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 381357951 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2601 CAMBRIDGE CT STE 500 | AddressLine1Txt |
| City | AUBURN HILLS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48326 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381305916 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN EDUCATIONAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MICH | BusinessNameControlTxt |
| Phone | 7344559200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9200 HAGGERTY RD | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48170 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEVIN F FINNERAN | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 7344559200 | PhoneNum |
| Signature | 2018-06-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LYNNE M HUISMANN | PreparerPersonNm |
| PTIN | P00053811 | PTIN |
| Phone | 2483757100 | PhoneNum |
| Preparation | 2018-06-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT G SANDERCOCK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9200 HAGGERTY RD | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48170 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $74,313,818 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MICHEDCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1942 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 84 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $63,148 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $20,628,407 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $21,522,523 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,275,277 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,049,138 | CYInvestmentIncomeAmt |
| PY Other Revenue | $25,818 | PYOtherRevenueAmt |
| CY Other Revenue | $25,328 | CYOtherRevenueAmt |
| PY Total Revenue | $24,929,502 | PYTotalRevenueAmt |
| CY Total Revenue | $26,596,989 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $8,532,170 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $9,443,897 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,112,004 | PYOtherExpensesAmt |
| CY Other Expenses | $12,661,180 | CYOtherExpensesAmt |
| PY Total Expenses | $20,644,174 | PYTotalExpensesAmt |
| CY Total Expenses | $22,105,077 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,285,328 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,491,912 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $763,355,659 | TotalAssetsBOYAmt |
| Total Assets EOY | $799,550,694 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $669,249,682 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $702,189,571 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $94,105,977 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $97,361,123 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE MEMBERS WITH QUALITY, COMPREHENSIVE AND COST EFFECTIVE FINANICIAL SERVICES | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE 50,782 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING 95,001. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE 44,557 LOANS INCLUDING VEHICLE, CREDIT CARD, HOME EQUITY, BUSINESS, PERSONAL, BOAT, MOTORCYCLE, MOTOR HOME, AND MORTGAGES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. | 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 | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | 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 | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | 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 | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 73261 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 84 | 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 |
| 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 | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEVIN FINNERAN | PersonNm |
| Phone | 7344559200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9200 HAGGERTY ROAD | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48170 | 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 |
|---|---|---|---|---|---|---|---|---|
| ALONZO GLAZE | ||||||||
| CHAIRPERSON | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| STEVEN RODRIGUEZ | ||||||||
| VICE CHAIRPERSON | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| WILLIAM WOOSTER | ||||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| ROBIN J E LONG | ||||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| AMY MCQUISTON | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHELLE RANDALL | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| GREGORY BARACY | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| SCOT SZUKAITIS | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| DEBORAH ELLISTON | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| ROBERT SANDERCOCK | ||||||||
| CHIEF EXECUTIVE OFFICER | 38.00 | $1,969,699 | $0 | $84,264 | Yes (X) | |||
| MARK PUGLIESE | ||||||||
| CHIEF FINANCIAL OFFICER | 38.00 | $319,924 | $0 | $69,643 | Yes (X) | |||
| HENRY WILLSON | ||||||||
| EXECUTIVE VICE PRESIDENT | 38.00 | $293,024 | $0 | $72,388 | Yes (X) | |||
| JEFFREY CUSMANO | ||||||||
| VICE PRESIDENT | 38.00 | $203,716 | $0 | $39,709 | Yes (X) | |||
| ELLEN PAPARELLI | ||||||||
| VICE PRESIDENT- ACCOUNTING | 38.00 | $172,574 | $0 | $44,108 | Yes (X) | |||
| GAIL COCHRAN | ||||||||
| EXECUTIVE ASSISTANT | 38.00 | $148,366 | $0 | $41,234 | Yes (X) | |||
| JOSEPH RASSETTE | ||||||||
| IT SUPERVISOR | 38.00 | $133,695 | $0 | $42,536 | Yes (X) | |||
| JAMES BRUNTON | ||||||||
| COLLECTIONS MANAGER | 38.00 | $129,884 | $0 | $38,268 | Yes (X) | |||
| DAVID FOSTER | ||||||||
| BRANCH MANAGER | 38.00 | $144,209 | $0 | $39,986 | Yes (X) | |||
| RICHARD NORRIS | ||||||||
| BRANCH MANAGER | 38.00 | $130,715 | $0 | $43,482 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,645,806 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $515,618 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 14 | 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 |
|---|---|---|---|---|---|
| FISERV | |||||
| 255 FISERV DRIVE | BROOKFIELD | WI | 53045 | CORE PROESSING SYSTEM, ETC. | $2,106,155 |
| CO-OP FINANCIAL SERVICES | |||||
| 9692 HAVEN AVENUE | RANCHO CUCAMONGA | CA | 91730 | SHARED BRANCHING, ATM NETWORK, DEBIT CAR | $1,167,293 |
| PSCU | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CREDIT CARD PROCESSING | $506,802 |
| MMS MORTGAGE SERVICES LTD | |||||
| 38275 TWELVE MILE ROAD SUITE 100 | FARMINGTON HILLS | MI | 48331 | SUB-SERVICER OF FIRST MORTGAGE PORTFOLIO | $386,163 |
| SUNTEL SERVICES | |||||
| 1095 CROOKS ROAD SUITE 100 | TROY | MI | 48084 | PHONE SYSTEM AND NETWORK CONFIGURATION | $131,145 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $17,302,707 | $17,284,122 | $18,585 |
| FEE/OTHER INCOME | 524298 | $4,219,816 | $4,175,253 | $44,563 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $21,522,523 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,044,695 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,044,695 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $29,604 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $4,276 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $25,328 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $25,328 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,328 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $47,716,996 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $47,712,553 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,443 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,443 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,443 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $26,596,989 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $26,533,841 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $63,148 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,269,048 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,105,692 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,099,067 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,562,746 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $407,344 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,635 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $416,000 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,278,935 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,439,847 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,517,412 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,314 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,745 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,104,915 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $733,784 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,832 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,887,776 |
| OTHER OPERATING EXPENSE | $909,538 |
| PROVISION FOR LOAN LOSS | $788,885 |
| ASSOCIATION DUES | $26,562 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,105,077 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,065,792 | BOYAmt |
| EOY | $3,142,889 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,667,817 | BOYAmt |
| EOY | $39,474,952 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $438,009,463 | BOYAmt |
| EOY | $475,151,763 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $263,521 | BOYAmt |
| EOY | $301,920 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $21,881,152 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,892,588 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,960,580 | BOYAmt |
| EOY | $9,988,564 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $241,261,715 | BOYAmt |
| EOY | $239,170,773 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,986,180 | BOYAmt |
| EOY | $14,842,198 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,140,591 | BOYAmt |
| EOY | $17,477,635 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $763,355,659 | BOYAmt |
| EOY | $799,550,694 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,132,130 | BOYAmt |
| EOY | $4,925,492 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $666,117,552 | BOYAmt |
| EOY | $697,264,079 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $669,249,682 | BOYAmt |
| EOY | $702,189,571 | 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 | $94,105,977 | BOYAmt |
| EOY | $97,361,123 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,105,977 | BOYAmt |
| EOY | $97,361,123 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $763,355,659 | BOYAmt |
| EOY | $799,550,694 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,491,912 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$564,207 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$672,559 | 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 | $2,910,860 | OtherCostOrOtherBasisAmt |
| Book Value | $2,910,860 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,748,406 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,668,479 | DepreciationAmt |
| Book Value | $5,079,927 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,221,886 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,224,109 | DepreciationAmt |
| Book Value | $1,997,777 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,988,564 | TotalBookValueLandBuildingsAmt |
Closely Held Equity Interests CloselyHeldEquityInterestsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $60,000 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FEDERAL AGENCY SECURITIES | $81,895,425 | C |
| CORPORATE BONDS | $52,371,277 | C |
| MUNICIPAL BONDS | $60,717,448 | C |
| COLLATERALIZED MORTGAGE OBLIGATIONS | $43,129,958 | C |
| SMALL BUSINESS ADMINISTRATION SECURITY | $996,665 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $239,170,773 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $697,264,079 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $697,264,079 | TotalLiabilityAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT SANDERCOCK | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $1,372,285 | $0 | $597,414 | $0 | $0 | $0 | $44,549 | $0 | $39,715 | $0 | $2,053,963 | $0 | $0 | $0 |
| MARK PUGLIESE | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $263,285 | $0 | $52,600 | $0 | $4,039 | $0 | $45,446 | $0 | $24,197 | $0 | $389,567 | $0 | $0 | $0 |
| HENRY WILLSON | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $260,185 | $0 | $32,000 | $0 | $839 | $0 | $41,831 | $0 | $30,557 | $0 | $365,412 | $0 | $0 | $0 |
| JEFFREY CUSMANO | ||||||||||||||
| VICE PRESIDENT | $175,866 | $0 | $27,500 | $0 | $350 | $0 | $28,369 | $0 | $11,340 | $0 | $243,425 | $0 | $0 | $0 |
| ELLEN PAPARELLI | ||||||||||||||
| VICE PRESIDENT- ACCOUNTING | $161,754 | $0 | $10,450 | $0 | $370 | $0 | $23,410 | $0 | $20,698 | $0 | $216,682 | $0 | $0 | $0 |
| GAIL COCHRAN | ||||||||||||||
| EXECUTIVE ASSISTANT | $137,785 | $0 | $8,950 | $0 | $1,631 | $0 | $19,155 | $0 | $22,079 | $0 | $189,600 | $0 | $0 | $0 |
| JOSEPH RASSETTE | ||||||||||||||
| IT SUPERVISOR | $123,583 | $0 | $10,000 | $0 | $112 | $0 | $16,979 | $0 | $25,557 | $0 | $176,231 | $0 | $0 | $0 |
| JAMES BRUNTON | ||||||||||||||
| COLLECTIONS MANAGER | $119,774 | $0 | $10,000 | $0 | $110 | $0 | $16,518 | $0 | $21,750 | $0 | $168,152 | $0 | $0 | $0 |
| DAVID FOSTER | ||||||||||||||
| BRANCH MANAGER | $137,359 | $0 | $5,250 | $0 | $1,600 | $0 | $18,460 | $0 | $21,526 | $0 | $184,195 | $0 | $0 | $0 |
| RICHARD NORRIS | ||||||||||||||
| BRANCH MANAGER | $124,975 | $0 | $5,250 | $0 | $490 | $0 | $16,588 | $0 | $26,894 | $0 | $174,197 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | TRAVEL FOR COMPANIONS IS INCLUDED WITH EXECUTIVE TRAVEL. THE CREDIT UNION HAS POLICIES REGARDING PAYMENT OR REIMBURSEMENT FOR ALL EXPENSES. TRAVEL FOR COMPANIONS IS NOT TREATED AS TAXABLE INCOME. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 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 AT THE ANNUAL MEETING. EVERY YEAR THREE OF THE NINE SEATS ARE ELECTED FOR A THREE YEAR TERM. |
| FORM 990, PART VI, SECTION A, LINE 7B | CREDIT UNION DECISIONS THAT ARE SUBJECT TO MEMBERSHIP APPROVAL ARE MERGERS, FIELD OF MEMBERSHIP CHANGES AND BY-LAW CHANGES. |
| FORM 990, PART VI, SECTION B, LINE 11B | A REVIEW IS CONDUCTED BY THE CFO PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF DIRECTORS AFTER THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES SIGN AN ACKNOWLEDGEMENT OF THE CREDIT UNION POLICIES UPON HIRE WITH EACH REVISION. CONFLICT OF INTEREST IS INCLUDED. BOARD MEMBERS SIGN A CODE OF ETHICS AGREEMENT WHICH SPECIFICALLY ADDRESSES CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS PERFORMS AN EVALUATION OF THE CEO. COMPENSATION IS DETERMINED THROUGH SALARY SURVEY AND COMPARISON TO SELECT PEER GROUP. IT IS BASED ON AN EMPLOYMENT CONTRACT AND INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS. CFO AND KEY EMPLOYEES ARE EVALUATED BY THE CEO. THE CEO DETERMINES THE SALARY BASED ON COMPENSATION SURVEYS, ETC. THE LAST COMPENSATION REVIEW WAS DURING THE BUDGET PROCESS IN 2017. |
| 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 XI, LINE 9: | CHANGE IN POSTRETIREMENT HEALTH BENEFITS -672,559. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INTERCOUNTY FINANCIAL SERVICES INC DBA MICH EDU FIN SVCS | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9200 HAGGERTY ROAD | AddressLine1Txt |
| City | PLYMOUTH | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48170 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 383245456 | EIN |
| Primary Activities | MORTGAGE LOAN WAREHOUSING | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN EDUCATIONAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $383,277 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $10,785,143 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | 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 |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INTERCOUNTY FINANCIAL SERVICES LTD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | A | TransactionTypeTxt |
| Involved | $209,197 | InvolvedAmt |
| Method Of Amount Determination | CASH PAYMENT | MethodOfAmountDeterminationTxt |