2017-11-03T15:48:45-05:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 381569911 ZEAL CREDIT UNION FKA CREDIT UNIONS CHARTERED IN THE STATE OF CO-OP SERVICES ZEAL 7345223700 17250 NEWBURG RD LIVONIA MI 48152 ANTHONY CARNARVON PRESIDENT/CEO 7345223700 2017-11-03 1 ROBIN D HOAG CPA P00360662 2482443000 40.141.134.7 2017-11-03 16:46:57 ED P 062293E64DF58CF8D35332F263D6456F83B37FCF 062293E64DF58CF8D35332F263D6456F83B37FCF 2016 2017-02-10 21:41:12Z X ANTHONY CARNARVON 17250 NEWBURG RD LIVONIA MI 48152 44475910 0 1359 X WWW.ZEALCREDITUNION.ORG X 1954 MI FINANCIAL COOPERATIVE ORGANIZED TO PROVIDE MEMBERS WITH AFFORDABLE FINANCIAL SERVICES & PRODUCTS. 10 10 259 12 125931 -317874 0 0 24584397 27089256 4187199 4515523 115886 125931 28887482 31730710 0 0 0 0 8654004 9287643 0 0 0 13947052 13191512 22601056 22479155 6286426 9251555 528932904 552762216 454282493 470824042 74650411 81938174 FINANCIAL COOPERATIVE ORGANIZED TO PROVIDE MEMBERS WITH AFFORDABLE FINANCIAL SERVICES & PRODUCTS. 0 0 MONEY MARKET ACCOUNTS - $129 MILLION MEMBER SHARE ACCOUNTS - $182 MILLION FIRST MORTGAGES - $99 MILLION 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 10380 0 1 259 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 ANTHONY CARNARVON 7345223700 17250 NEWBURG RD LIVONIA MI 48152 KATHY RICHARDSON DIRECTOR 2.00 X 0 0 0 JOANNE CAIN TREASURER 2.00 X 0 0 0 DAVID L KISIC SECRETARY 2.00 X 0 0 0 MICHAEL A O'HEHIR CHAIRPERSON 2.00 X 0 0 0 SAMUEL R PALISE V. CHAIRPERSON 2.00 X 0 0 0 GLENN LEE DIRECTOR 2.00 X 0 0 0 KAREN RAWLS DIRECTOR 2.00 X 0 0 0 DAVID ADAMS JR DIRECTOR 2.00 X 0 0 0 JIM KRIZAN DIRECTOR 2.00 X 0 0 0 PAUL MESSIMER DIRECTOR 2.00 X 0 0 0 MELISSA ESPINOZA CONTROLLER 40.00 X 137344 0 12258 ANTHONY CARNARVON PRESIDENT/CEO 45.00 X 386203 0 38443 FRANCESSCA JURICNY VP - APP SERVICES 45.00 X 123381 0 11885 ANGELA KROGOL SVP - MEMBER SERVICES 45.00 X 154985 0 25035 CORRINA DEE DYE-HALE MORTGAGE DEPT MANAGER 45.00 X 164907 0 22703 NORMAN THOMAS VP - IT 45.00 X 122929 0 22703 SANDRA SELEWSKI VP-HUMAN RESOURCES 45.00 X 124185 0 12125 1213934 0 145152 9 0 1 0 SYNERGY GROUP 39400 WOODWARD AVE BLOOMFIELD HILLS MI 48304 CONSTRUCTION MANAGEMENT SERVICES 7213002 DETERMINED MARKETING 108 E MAIN STREET BRIGHTON MI 48116 MARKETING 911737 EDGE CREATIVE GROUP 23452 WOODWARD FERNDALE MI 48220 MARKETING 639617 RED LEVEL NETWORKS 24371 CATHERINE INDUSTRIAL DR NOVI MI 48375 DATA PROCESSING 602780 FISERV 255 FISERV DRIVE BROOKFIELD WI 530080979 FINANCIAL SERVICES TECH SOLUTIONS 539024 6 LOAN INCOME 522100 15980481 15980481 FEE/CHARGES/OTHER 522100 11108775 11108775 27089256 4335092 4335092 12593900 331731 12450280 294920 143620 36811 180431 180431 ATM INCOME 525990 75884 75884 FINANCIAL SERVICE INCOME 525990 50047 50047 125931 31730710 27089256 125931 4515523 574248 6514439 482745 1135347 580864 92058 69600 182313 2278590 2648567 1205996 1170881 113536 85566 882903 934979 188926 DEBIT/CREDIT EXPENSES 1019045 LOAN SERVICING 890378 ATM EXPENSES 572449 MAINTENANCE 352180 503545 22479155 3363701 6196739 1102084 4778265 169595 312464 3830000 3830000 273292427 280928951 759887 662561 21726221 10585833 13869515 11140388 201043387 212598843 9269000 1242000 1535799 1354865 20697509 29717140 528932904 552762216 3532308 3217223 13292742 11250000 437457443 456356819 454282493 470824042 X 0 0 0 0 74650411 81938174 74650411 81938174 528932904 552762216 X 9251555 -1820172 -143620 X X 0 1 X 1 0 4021424 4021424 10503355 5194722 5308633 1506349 714502 791847 5695093 4676609 1018484 11140388 ACCRUED INTEREST RECEIVABLE 1819482 OTHER REAL ESTATE OWNED 196318 FHLB STOCK 2145000 OTHER ASSETS 136691 MEMBER CAPITAL SHARE DEPOSIT 1004200 NCUIF DEPOSIT 4433267 INVESTMENT IN CUSO 1827066 LOANS HELD FOR SALE 1962018 CONSTRUCTION IN PROCESS 9345345 MORTGAGE SERVICING RIGHTS 444195 PLAN 457B 145884 CUNA PLAN 6257674 29717140 MEMBER SHARES 456356819 456356819 31730710 0 31730710 0 31730710 22479155 0 22479155 0 22479155 X 1 1 X X 0 1 0 ANTHONY CARNARVON PRESIDENT/CEO 346584 0 38391 0 1228 0 21600 0 16843 0 424646 0 0 0 ANGELA KROGOL SVP - MEMBER SERVICES 137237 0 15253 0 2495 0 11843 0 13192 0 180020 0 0 0 CORRINA DEE DYE-HALE MORTGAGE DEPT MANAGER 58921 0 106544 0 -558 0 9954 0 12749 0 187610 0 0 0 PART I, LINE 4B ANTHONY CARNARVON AND ANGELA KROGOL PARTICIATED IN 457(F) DEFERRED COMPENSATION PLANS. THE PLANS' LIABILITIES BY PARTICIPANT AS OF DECEMBER 31, 2016 WERE AS FOLLOWS: ANTHONY CARNARVON: $1,129,190 ANGELA KROGOL: $349,157 ANGELA KROGOL SVP MEMBER SERVICES SPLIT DOLLAR - DEFERRED COMP X 1050000 1050000 0 1 1 ANTHONY CARNARVON CEO SPLIT DOLLAR - DEFERRED COMP X 2780000 2780000 0 1 1 3830000 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ELECT THE BOARD MEMBERS. 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 BOARD HAS DESIGNATED THE PRESIDENT/CEO AND THE FINANCIAL MANAGEMENT TEAM WITH THE RESPONSIBILITY OF REVIEWING AND APPROVING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C IN ADDITION TO REGULAR ADHERENCE TO POLICY GUIDELINES, THE BOARD OF DIRECTORS PERFORMS AN ANNUAL REVIEW OF ALL POLICIES. IN ADDITION TO THE BOARD REVIEW, ANNUALLY THE STATE OF MICHIGAN REGULATORY EXAMINATION REVIEWS ALL POLICIES FOR COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 COMPARABLE MARKET DATA IS USED FOR ALL KEY EMPLOYEES. A VOLUNTEER BOARD OF DIRECTORS UTILIZES MARKET DATA TO SET COMPENSATION OF THE CEO. THE CEO, WITHIN PRE-ESTABLISHED RANGES SET BY THE BOARD OF DIRECTORS, ESTABLISHES THE COMPENSATION OF THE REMAINING KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJUSTMENT FOR REALIZED GAINS INCLUDED IN NET EARNINGS -143,620. 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.