2017-05-12T05:13:06-07:00 2016-12-31 FINANCIAL STANDARDS GROUP INC 3615 NEWBURG RD LOUISVILLE KY 40218 990 2016-01-01 381441242 ELGA Credit Union ELGA 8107153542 2303 S Center Road Burton MI 48519 Karen Church CEO 2017-05-12 true Thomas Armantrout CPA P02039010 8005225820 2016 2021-01-29 14:40:06Z X 39396254 false false X www.elgacu.com X 1968 MI Provide financial services and products to members. 7 7 202 10 178456 0 32861107 36104049 374062 482568 1403287 1543978 34638456 38130595 0 0 9782364 10697756 0 0 13352122 14938859 23134486 25636615 11503970 12493980 437345510 490394031 382985478 423508972 54360032 66885059 Provide financial services and products to members. false false The Credit Union provides several deposit account types to members including savings, checking, certificates and other. The total number of members at 12/31/2016 was 64,411. The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2016 was 42,916. false false false false false false false false false false true false false false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false true 13627 0 true 202 true true true false false false false false false false false false false X 7 7 false false false false true true true true false false true true false true true true false true true true false X Karen Church 8107153542 2305 S Center Road Burton MI 48519 Diana Currier Chairperson 1.00 0.00 X 0 0 0 Joseph Boris V. Chairperson 1.00 0.00 X 0 0 0 Harold Mott Board Member 1.00 0.00 X 0 0 0 Stevan Pirkovic Secretary 1.00 0.00 X 0 0 0 David Hutchins Treasurer 1.00 0.00 X 0 0 0 Sheveze Anderson Board Member 1.00 0.00 X 0 0 0 Kevin Keane Board Member 1.00 0.00 X 0 0 0 Karen Church CEO 45.00 0.00 X 305622 0 24802 Terry Katzur EVP of Lending 45.00 0.00 X 180197 0 16126 Rob Clontz Branch Manager 45.00 0.00 X 98679 0 4122 Bryan Randall CIO 45.00 0.00 X 133086 0 8657 Kathleen Smith VP of Branch Expr 45.00 0.00 X 122238 0 5055 Brian Chaffins Network Services 45.00 0.00 X 104833 0 9609 Chadd O'Brien General Counsel 45.00 0.00 X 96950 0 8877 Deborah Smith Secretary 1.00 0.00 X 0 0 0 Adam Oaks Board Member 1.00 0.00 X 0 0 0 1041605 77248 5 true true false Bancvue 4516 Seton Center Parkway Ste 300 Austin TX 75759 Technology/Marketing 505972 Case Construction 621 State Street Racine WI 53404 Construction 1192117 Burroughs Inc 41100 Plymouth Road Plymouth MI 48170 ATM Servicing 1128265 HealthSmart Benefit Solutions 602 Virginia Street E Charleston WV 25301 Health Insurance 454642 Performance Health 1245 Home Avenue Akron OH 44310 Health Insurance 790354 18 0 Fees & Charges 522100 8424139 8424139 Interchange Income 522100 4899766 4899766 Interest on Loans 522100 22780144 22780144 36104049 402747 402747 0 0 6484 6484 6484 6484 252438 1093042 251946 1013713 492 79329 79821 79821 0 0 0 Insurance Reimbursements 524298 1493271 1359038 134233 Non-Member ATM Fees 525990 44223 44223 Sprint Reimbursements 525990 1537494 38130595 37952139 178456 0 0 0 0 1108854 0 7344935 363949 1254237 625781 0 0 55181 0 0 2274 0 1452801 1773215 1193599 0 619073 351614 0 0 2012520 0 1114922 139844 ATM Expense 2823849 Allowance for Loan Losses 1320833 Loan Servicing Expenses 1296907 Professional Services 574997 207230 25636615 0 0 0 5815523 6457230 38182270 32301277 0 0 0 0 368018719 430467644 0 1020211 941827 21383690 11383857 8305821 9999833 6710875 1567398 4009631 3270387 0 0 5282460 5388435 437345510 490394031 3653169 -4403393 83707 379248602 427912365 382985478 423508972 X 54360032 66885059 54360032 66885059 437345510 490394031 12493980 31047 X false false false 1899856 1899856 9101373 3292965 5808408 770901 570439 200462 4687821 3584070 1103751 4923739 3936383 987356 9999833 Total Share & Deposit Accounts 427912365 427912365 X X false false false Karen Church CEO 270454 25252 9916 19857 4945 330424 Terry Katzur EVP of Lending 140870 35727 3600 14587 1539 196323 Part III, Additional Information All employees, including senior management, are included in Efficiency Gain payouts. Payouts are based on efficiency ratio improvement over prior 2-year average. Duane Church CEO spouse, AssetMgr 30760 CU employee salary true Note All Credit Union true members share revenues true Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Section 501c(14) Credit Union is composed of members. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders Mergers are voted on by entire membership. Form 990, Part VI, Line 11b: Form 990 Review Process Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Employee loans are Management approved. Management loans are Credit Committee approved. Loans to Board members are Credit Committee approved. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.