2017-10-27T15:17:23-05:00 2016-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2016-01-01 380478780 PEOPLE DRIVEN CREDIT UNION PEOP 2482634100 24333 LAHSER ROAD SOUTHFIELD MI 48033 MARGARET LAMB CFO 2482634102 2017-10-27 1 JACK C TRACY CPA P01974742 2482443000 40.141.134.7 2017-10-27 16:10:31 ED P 062293E64DF58CF8D35332F263D6456F83B37FCF 1353DC092BF0A9AADCA388267C2932B6E10091D4 2016 2021-01-29 14:40:06Z RENEE DEMARCO 24333 LAHSER ROAD SOUTHFIELD MI 48033 41002929 0 1359 X WWW.PEOPLEDRIVENCU.ORG X 1928 MI THE CREDIT UNION IS A MEMBER OWNED, FULL SERVICE FINANCIAL ORGANIZATION COMMITTED TO PROVIDING FINANCIAL SERVICES AND COST SAVINGS THEREBY HELPING OUR MEMBERS ACHIEVE FINANCIAL SUCCESS. 8 8 107 8 366525 -378826 0 0 10870489 11233780 1187622 1292405 347648 366525 12405759 12892710 0 0 0 0 5689807 5644424 0 0 0 6239684 6706053 11929491 12350477 476268 542233 250327862 249447385 228431098 227388031 21896764 22059354 X THE MISSION OF PEOPLE DRIVEN CREDIT UNION IS TO PROMOTE THE FINANCIAL WELL-BEING OF THE MEMBERSHIP BY FOSTERING THRIFT AND ENCOURAGING THE PRUDENT USE OF CREDIT. THIS IS ACCOMPLISHED BY PROVIDING CONVENIENT, COMPETITIVELY PRICED, QUALITY FINANCIAL SERVICES IN A WORK ENVIRONMENT THAT PROVIDES A CHALLENGING AND REWARDING CAREER FOR EMPLOYEES AND ENCOURAGES VOLUNTEER MEMBER PARTICIPATION. 0 0 PROVIDE 25,561 MEMBERS WITH REGULAR SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING 52,350 ACCOUNTS. PROVIDED 16,772 LOANS INCLUDING VEHICLE, OVERDRAFT PROTECTION, MORTGAGE, HOME EQUITY, SIGNATURE, CREDIT CARD, INDIRECT, BUSINESS AND RECREATIONAL VEHICLE LOANS. PROVIDE AUTOMATED TELLER MACHINES (ATM), DEBIT CARDS, MONEY ORDERS, BILL PAYMENT, ONLINE BANKING, FINANCIAL COUNSELING AND EDUCATION, OVERDRAFT/COURTESY PAY, AND VARIOUS INSURANCE PROGRAMS. 0 0 0 0 0 0 0 0 0 1 0 0 1 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 3044 0 1 107 1 1 1 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X MARGARET M LAMB 2482634100 24333 LAHSER ROAD SOUTHFIELD MI 48033 MICHELLE RHODES BOARD MEMBER 1.00 X 0 0 0 MILLER ADAMS BOARD MEMBER 1.00 X 0 0 0 MARGARET O PATTERSON-BAILEY BOARD MEMBER 1.00 X 0 0 0 DENNIS W PARADOWSKI BOARD MEMBER 1.00 X 0 0 0 CAROL DOMINO BOARD SECRETARY 1.00 X 0 0 0 ANITA P DOUGLAS BOARD MEMBER 1.00 X 0 0 0 MARK URBANIAK VICE-CHAIR 1.00 X 0 0 0 RONNIE WILLIAMS BOARD MEMBER 1.00 X 0 0 0 SUE WILSON BOARD TREASURER 1.00 X 0 0 0 XIANG WU BOARD MEMBER 1.00 X 0 0 0 CLAUDIA YOUNG BOARD CHAIR 2.00 X 0 0 0 MARGARET LAMB SVP/CFO 40.00 X 138398 0 57872 RENEE D DEMARCO PRESIDENT/CEO 40.00 X 283489 0 128408 LORETTA CAMPBELL COO 40.00 X 132811 0 26785 554698 0 213065 3 0 1 0 FISERV 75 REMITTANCE DR DEPT 1649 CHICAGO IL 60675 CORE PROCESSOR 313993 DIEBOLD GLOBAL FINANCE CORP PO BOX 644399 PITTSBURGH PA 152644399 ATM MONITORING AND MAINTENANCE 110777 WARREN GALAXY PLAZA LLC 37000 GRAND RIVER AVE SUITE 360 FARMINGTON HILLS MI 48335 LANDLORD 110372 PRESIDIO TECHNOLOGY CAPITAL LLC PO BOX 534792 ATLANTA GA 303534792 NETWORK SERVICER 105280 IDSCOM 747 E WHITCOMB AVE MADISON HTS MI 48071 PRINTING AND MAILING HOUSE 104190 6 LOAN INCOME 522100 7129155 7129155 FEES AND CHARGES 522100 4104625 4104625 11233780 1149648 1149648 28252976 28110219 142757 142757 142757 FINANCIAL SERVICES 525990 255182 255182 NON-MEMBER ATM FEES 900099 111343 111343 366525 12892710 11233780 366525 1292405 X 608167 3562781 397086 732606 343784 61945 30784 185465 100125 664075 89302 17 OFFICE OPERATIONS 2983242 MEMBER SERVICES 1019220 PROVISION FOR LOAN LOSS 740242 LOAN SERVICING EXPENSES 394684 436952 12350477 5983783 5280840 10977535 18182098 125865392 136236604 933693 441649 15629985 8913240 7095694 6716745 63115328 52265512 17102364 11233286 799282 705249 18454791 18385402 250327862 249447385 2579576 3188749 225851522 224199282 228431098 227388031 X 0 0 0 0 21896764 22059354 21896764 22059354 250327862 249447385 X 542233 -143352 -236291 X X 0 1 X 1 0 417494 417494 7262240 1614024 5648216 700654 642470 58184 3933861 3828101 105760 3315736 2828645 487091 6716745 OTHER ASSETS 1992048 ACCRUED INTEREST 505083 OREO 609497 POST RETIREMENT 2620366 BOLI 5782985 LOANS HELD FOR SALE 6384244 INVESTMENTS IN CUSO 491179 18385402 MEMBERS SHARE ACCOUNTS 224199282 224199282 X 12892710 0 12892710 0 12892710 12350477 0 12350477 0 12350477 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. 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. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE FOUR YEAR PERIOD ENDED MARCH 31, 2016 (2013-2016). X 1 1 X X 0 1 0 MARGARET LAMB SVP/CFO 130256 0 6875 0 1267 0 48982 0 8890 0 196270 0 0 0 RENEE D DEMARCO PRESIDENT/CEO 233462 0 37292 0 12735 0 103710 0 24698 0 411897 0 0 0 LORETTA CAMPBELL COO 111839 0 18729 0 2243 0 9697 0 17088 0 159596 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS IS PROVIDED TO THE CREDIT UNION'S OFFICIAL FAMILY (CURRENTLY 8 BOARD MEMBERS) AND IS GOVERNED BY THE OFFICIAL FAMILY CONFERENCE POLICY WHICH STATES THAT IF IT IS DETERMINED THAT SPOUSES AND GUESTS DO NOT PLAY A SIGNIFICANT BUSINESS ROLE THE REIMBURSEMENT OF TRAVEL EXPENSES OF THE SPOUSE OR GUEST WILL BE TREATED AS INCOME. PART I, LINE 4B RENEE DEMARCO AND MARGARET LAMB PARTICIPATED IN A 457(F). DURING 2016 THE ACCRUED BENEFIT WAS $81,726.68 AND $42,465, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 6 EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT MEMBERS OF THE GOVERNING BODY EACH YEAR AT THE ANNUAL MEETING. 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 FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. A REVIEW IS CONDUCTED BY THE CFO PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C OFFICIALS ARE REQUIRED TO SIGN ANNUAL CERTIFICATION OF COMPLIANCE WITH POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPEASE SALARY SURVEY ALONG WITH EACH EMPLOYEE'S JOB PERFORMANCE REVIEW IS USED TO DETERMINE WAGE INCREASES FOR NON-UNION STAFF. UNION STAFF COMPENSATION IS GOVERNED BY THE COLLECTIVE BARGAINING AGREEMENT. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24E DIVIDENDS/INTEREST ON MEMBER DEPOSITS 298,107. NON-OPERATING LOSS 73,169. NCUA OPERATING FEES 65,487. EMPLOYEE & OFFICIAL EXPENSES 189. FORM 990, PART XI, LINE 9: AMORTIZATION OF OF UNREALIZED NET LOSSES AND ACTUARIAL LOSSES FROM CHANGES IN ASSUMPTIONS ON POSTRETIREMENT BENEFIT OBLIGATION -236,291. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS ARE DONE ON A FISCAL YEAR END AND TAX REPORTING IS REQUIRED ON A CALENDAR YEAR END.