2025-11-14T18:02:00-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 381582963 FREESTAR FINANCIAL CREDIT UNION FREE 5864667800 PO BOX 2800 MT CLEMENS MI 48046 DREMA ISAAC PRESIDENT/CEO 5864667800 2025-11-12 1 0 AUBREY CLEGG P01076395 3052328272 2025-11-10 2024 2025-03-06 01:10:19Z DREMA D ISAAC PO BOX 2800 MT CLEMENS MI 48046 18583911 0 1359 X WWW.FREESTARFINANCIAL.COM X 1957 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 8 8 109 8 31811 12491 0 0 14947577 16298814 2157965 2253286 32198 31811 17137740 18583911 4600 4000 0 0 6133793 6121142 0 0 0 9926429 10953309 16064822 17078451 1072918 1505460 318693723 327543553 294485618 300447324 24208105 27096229 TO POSITIVELY IMPACT THE LIVES OF OUR MEMBERS, TEAM MEMBERS, AND COMMUNITY THROUGH MEANINGFUL CONNECTIONS AND PROGRESSIVE FINANCIAL SOLUTIONS. 0 0 PROMOTED THRIFT TO APPROXIMATELY 22,300 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL INSTRUMENTS. 0 0 0 0 0 0 0 1 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 1 1 1 0 0 1 5936 0 1 109 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X DEIDRE TAYLOR 5864667800 PO BOX 2800 MT CLEMENS MI 48046 RAYMOND W WHITE JR BOARD CHAIRPERSON 2.00 X 0 0 0 CHARLES LARSEN BOARD VICE CHAIRPERSON 2.00 X 0 0 0 CATHERINE PATYI BOARD TREASURER 2.00 X 0 0 0 JEFFREY BRUSS BOARD SECRETARY 2.00 X 0 0 0 MARC ALEXANDER BOARD DIRECTOR 2.00 X 0 0 0 ASHLEY CIAMILLO BOARD DIRECTOR 2.00 X 0 0 0 GAIL MAZZONE BOARD DIRECTOR 2.00 X 0 0 0 BRIAN EISBRENNER ASSOCIATE BOARD DIRECTOR 2.00 X 0 0 0 DREMA ISAAC PRESIDENT/CEO 40.00 X 401463 0 166713 ABIGAIL WARD CFO 40.00 X 44301 0 6325 JENNIFER MARTINES CHIEF GROWTH OFFICER 40.00 X 195456 0 10302 TIMOTHY STRENK CHIEF INFORMATION OFFICER 40.00 X 163431 0 29468 ANNE LESTER VP BRANCH OPERATIONS 40.00 X 138840 0 14734 VICTORIA MCINTOSH VP OF COMMUITY AFFAIRS 40.00 X 115579 0 13168 BEVERLY MURRELL AVP OF REPAYMENT SOLUTIONS 40.00 X 101602 0 26909 1160672 0 267619 6 0 1 0 FISERV PO BOX 934057 ATLANTA GA 31193 DATA PROCESSING 1620880 CORELATION 2305 HISTORIC DECATUR RD SUITE 300 SAN DIEGO CA 92106 BANKING CORE 909900 2 LOANS RECEIVABLE 522100 12037690 12037690 FEES, CHARGES, OTHER 522100 4261124 4261124 16298814 2253286 2253286 FINANCE AND INSURANCE 520000 31811 31811 31811 18583911 18552100 31811 0 X 4000 824560 4059266 186331 668873 382112 41586 94479 47637 592362 513776 924561 304414 142202 52093 3886260 22474 753763 89197 UNRELATED BUSINESS INCO 1800 DEBIT/CREDIT/ATM EXPENS 1296697 PROVISION FOR LOAN LOSS 932514 LOAN SERVICING 528921 728573 17078451 2532410 3504282 13751635 27111759 209818606 213053721 315729 320928 18515929 6288519 12409488 12227410 65431954 57590110 6843000 3697900 228082 805346 7362819 9232097 318693723 327543553 4367813 4219232 390833 505709 5000000 5000000 284726972 290722383 294485618 300447324 X 0 0 0 0 24208105 27096229 24208105 27096229 318693723 327543553 X 1505460 859216 523448 X X 0 1 X 1 0 0 1 X 3633138 3633138 10577784 3120700 7457084 53823 53038 785 4251184 3114781 1136403 12227410 CERTIFICATES OF DEPOSIT 83262508 IRA ACCOUNTS 4929060 MONEY MARKET ACCOUNTS 48520851 REGULAR SHARES 99867713 SHARE DRAFTS 54142251 290722383 X 18583911 0 18583911 0 18583911 17078451 0 17078451 0 17078451 PART IV, LINE 2B: THE CREDIT UNION RECEIVES PRINCIPAL PAYMENTS, INTEREST PAYMENTS, TAX PAYMENTS AND INSURANCE PAYMENTS, IN ITS ROLE AS LOAN SERVICER, AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES FOR TAXES, INSURANCE, AND MORTGAGE INSURANCE FOR CERTAIN MORTGAGE LOANS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. X X 1 1 X X 0 1 0 DREMA ISAAC PRESIDENT/CEO 357115 0 43244 0 1104 0 144000 0 22713 0 568176 0 0 0 JENNIFER MARTINES CHIEF GROWTH OFFICER 187616 0 7600 0 240 0 10302 0 0 0 205758 0 0 0 TIMOTHY STRENK CHIEF INFORMATION OFFICER 157652 0 5466 0 313 0 9049 0 20419 0 192899 0 0 0 ANNE LESTER VP BRANCH OPERATIONS 133570 0 4993 0 277 0 8268 0 6466 0 153574 0 0 0 PART I, LINE 4B THE CEO PARTICIPATES IN A NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN. THE ESTIMATED LIABILITY IS BEING ACCRUED OVER THE REMAINING YEARS OF THE AGREEMENT AND APPROXIMATED $1,281,900 AS OF DECEMBER 31, 2024. DURING 2024 THE ACCRUED EXPENSE RECORDED TO THE DEFERRED COMPENSATION PLAN WAS $144,000. FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL OF THE CREDIT UNION'S MEMBERS (CUSTOMERS) VOTE FOR THE DIRECTORS ON A YEARLY BASIS. 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 MANAGEMENT REVIEWS FORM 990. A LINK IS PROVIDED TO THE BOARD OF DIRECTORS TO REVIEW IF THEY CHOOSE. ALSO, A COPY IS PROVIDED TO MEMBERS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C A REVIEW IS COMPLETED AT VARIOUS TIMES THROUGH THE YEAR. COMPLIANCE WITH THE POLICY IS MONITORED BY THE VP OF HUMAN RESOURCES. EMPLOYEES MUST DISCLOSE ANY CONFLICTS WHEN HIRED AS THEY ARE NOT ALLOWED TO PROCESS TRANSACTIONS WHEN THERE IS A RELATIONSHIP WITH A MEMBER AND CAN BE TERMINATED FOR FAILURE TO COMPLY WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 VARIOUS TRADE SALARY AND BENEFIT SURVEYS WERE USED TO ASSIST IN SETTING THE SALARY OF THE OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 47,637. FORM 990, PART IX, LINE 24E SERVICE BUREAU 391,300. MAINTENANCE 213,910. MISCELLANEOUS 82,675. SHARE LOSSES 40,688. FORM 990, PART XI, LINE 9: EQUITY ACQUIRED IN BUSINESS COMBINATION WITH EASTPOINTE COMMUNITY CREDIT UNION 523,448. FORM 990, PART XII, LINE 2C WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MIT CUSO LLC 28366 FRANKLIN ROAD SOUTHFIELD MI 48034 872529367 IT SERVICES MI 0 48700 FREESTAR CREDIT UNION FREESTAR FINANCIAL FOUNDATION PO BOX 2800 MOUNT CLEMENS MI 48046 932371902 COMMUNITY CHARITY AND FINANCIAL SERVICES MI 501(C)(3) LINE 7 FREESTAR CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0