2025-10-27T12:40:44+00:00 2024-12-31 331498605 Plante & Moran PLLC 10 SOUTH RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 381440283 DORT FINANCIAL CREDIT UNION DORT 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 BRIAN WALDRON PRESIDENT/CEO 8107678390 2025-10-27 true true DAVID LOWENTHAL CPA P00378651 3122071040 2025-10-27 2024 2025-03-06 01:10:19Z FLAGLER CREDIT UNION BRIAN WALDRON 9048 HOLLY ROAD GRAND BLANC MI 48439 159165795 false X WWW.DORTONLINE.ORG X 1951 MI PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS. 7 7 444 9 122521 0 0 0 100498708 144302390 7119556 12379424 0 0 107618264 156681814 179814 446427 0 0 25002167 35717366 0 0 0 71104002 107650128 96285983 143813921 11332281 12867893 2342921086 2316815802 2135077451 2097096896 207843635 219718906 OPENING DOORS TO OUR MEMBERS BY PROVIDING QUALITY FINANCIAL SERVICES. false false 0 0 0 PROVIDE 116,814 MEMBERS WITH REGULAR SHARES, SHARE DRAFT, CERTIFICATES OF DEPOSIT, AND IRA ACCOUNTS TOTALING $1,822,569,778. 0 0 0 PROVIDE 93,625 LOANS INCLUDING VEHICLE, CREDIT CARD, HOME EQUITY, BUSINESS, PERSONAL, BOAT, MOTORCYCLE, MOTOR HOME, AND MORTGAGES. 0 0 0 OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, CHECK CASHING, TRAVELERS CHECKS, OVERDRAFT PROTECTION/COURTESY PAY, BILL PAY, AND VARIOUS INSURANCE AND INVESTMENT PROGRAMS. 0 false false false false false false false false true false true true false false true false true false false false false false false false false false false true true true false false false false false true false false false false false false false false false false false false false false true 36264 0 true 444 true true true false false false false false false false X 7 7 false false false false true true true true true false false false false true true true true true true true false false X JEREMY ZAGER CFO 8107678390 9048 HOLLY ROAD GRAND BLANC MI 48439 BRUCE ALLAN TREASURER 5.0 0.0 X X 0 0 0 DANA STODDARD FIRST VICE CHAIR 5.0 0.0 X X 0 0 0 DIANE PIERCY SECRETARY 5.0 0.0 X X 0 0 0 DOUGLAS KIDD SECOND VICE CHAIR 5.0 0.0 X X 0 0 0 WAYNE NATZKE CHAIRMAN OF THE BOARD 5.0 0.0 X X 0 0 0 BEVERLY KITTLE DIRECTOR 5.0 0.0 X 0 0 0 JEFF SELLS DIRECTOR 5.0 0.0 X 0 0 0 BRIAN WALDRON PRESIDENT/CEO 50.0 0.0 X 999612 0 61685 JEREMY ZAGER CHIEF FINANCIAL OFFICER 50.0 0.0 X 329012 0 48299 ADAM KOISHOR CHIEF STRATEGY OFFICER 50.0 0.0 X 236608 0 39557 DANIEL GATFIELD CHIEF RETAIL OFFICER 50.0 0.0 X 239021 0 28880 DEANA TURCOTT CHIEF HUMAN RESOURCES OFFICER 50.0 0.0 X 269724 0 42957 EDWARD STERLING CHIEF OPERATING OFFICER 50.0 0.0 X 324145 0 48097 MICHAEL ANDERSON CHIEF INFORMATION SYSTEMS OFFICER 50.0 0.0 X 296521 0 40181 SHARON LOBO CHIEF LENDING OFFICER 50.0 0.0 X 317148 0 45443 ANNA MORRIS REGIONAL BRANCH OPS MANAGER 37.5 0.0 X 177736 0 31514 DEREK DRAKE DIRECTOR OF ENTERPRISE RISK MANAGEMENT 37.5 0.0 X 224628 0 23995 JOSE CANO DIRECTOR OF COMMERCIAL LENDING 37.5 0.0 X 248220 0 31153 KEVIN ALGEO DIRECTOR OF CONSUMER LENDING 37.5 0.0 X 180560 0 20471 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 37.5 0.0 X 186740 0 34078 4029675 0 496310 58 false true false NCR VOYIX CORPORATION 864 SPRING STREET ATLANTA GA 30308 TECHNOLOGY 2064048 VISA USA PO BOX 742233 LOS ANGELES CA 90074 DATA PROCESSING 1796726 INFORMA BUSINESS SYSTEMS 5170 HARTSHORN DRIVE FLUSHING MI 48433 TECHNOLOGY 1366637 FISERV PO BOX 967057 ATLANTA GA 31193 TECHNOLOGY 1274980 H&S UNITED CONSTRUCTION PO BOX 320052 FLINT MI 48532 CONSTRUCTION 798380 50 0 MEMBER LOAN INCOME 522100 117826922 117826922 FEE/OTHER INCOME 524298 26475468 26352947 122521 0 0 0 0 144302390 11187371 11187371 0 0 1973752 1702282 1985187 498794 -11435 1203488 1192053 1192053 0 0 0 0 0 0 156681814 155367240 122521 1192053 416427 30000 0 0 3366890 24908677 1817506 3503949 2120344 117887 386961 1873020 3572258 4546892 5321621 2651348 786913 58367669 3505557 464858 INCOME TAX EXPENSE -1500 PROVISION FOR LOAN LOSS 8587860 LOAN SERVICING 8108451 CARD PROCESSING 6683999 2676334 143813921 235316000 140980562 0 0 0 0 13588448 5352866 10218746 10474214 0 0 1690938506 1761770710 0 0 7822537 9879168 64137141 24949594 36168521 39187547 116082618 96085015 129871338 148887531 0 72328968 71960412 30585404 32237777 2342921086 2316815802 25052916 22286706 0 0 0 0 0 0 1896246 2508414 0 0 0 0 120000000 67500000 1988128289 2004801776 2135077451 2097096896 0 0 X 0 0 0 0 207843635 219718906 207843635 219718906 2342921086 2316815802 X 12867893 -172120 -820502 X X false true true false false true X 9973669 9973669 30508513 6007026 24501487 324290 324290 0 23091181 18618278 4472903 239488 239488 39187547 Closely-held equity interests Financial derivatives MORTGAGE BACKED SECURITIES 33213589 F COLLATERALIZED MORTGAGE OBLIGATIONS 79307699 F SMALL BUSINESS ADMINISTRATION SECURITIES 3325998 F REDEEMABLE CORPORATE PREFERRED STOCK 13782921 F CORPORATE BONDS 12732324 F FEDERAL HOME LOAN BANK STOCK 6525000 F 148887531 Federal Income Taxes MEMBERS' SHARES AND SAVINGS ACCOUNTS 1822569776 NONMEMBER CERTIFICATES OF DEPOSIT 182232000 2004801776 156707291 25477 25477 156681814 0 0 156681814 143839398 0 0 143839398 -25477 -25477 143813921 Schedule D, Part IV, Line 2b Explanation of escrow agreement CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 LOSS ON REPOSESSION OF ASSETS - 25477 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements LOSS ON REPOSESSION OF ASSETS - -25477 true Catholic Charities 901 CHIPPEWA ST Flint MI 48506 381539243 501(C)(3) 11500 Community Partnership YMCA OF GREATER FLINT 411 E 3RD ST Flint MI 48503 381358056 501(C)(3) 19000 Community Partnership PALM BEACH COUNTY POLICE BENEVOLENT ASSOC 2100 NORTH FLORIDA MANGO ROAD WEST PALM BEACH FL 33409 200740342 501(c)(3) 7500 COMMUNITY PARTNERSHIP Hopewell Fund 1828 L Street NW Suite 300-D Washington DC 20036 473681860 501(c)(3) 15000 Community Partnership 4 0 Scholarships 15 30000 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds Scholarships are awarded based on an application process and scored evaluation using a rubric of all complete applications received. Winners are selected by a committee of volunteers based on ranked scores. X X X true true X X X X false true false BRIAN WALDRON PRESIDENT/CEO 593312 0 150800 0 255500 0 42639 0 19046 0 1061297 0 0 0 JEREMY ZAGER CHIEF FINANCIAL OFFICER 296536 0 19811 0 12665 0 30573 0 17726 0 377311 0 0 0 EDWARD STERLING CHIEF OPERATING OFFICER 318998 0 1044 0 4103 0 32889 0 15208 0 372242 0 0 0 SHARON LOBO CHIEF LENDING OFFICER 293260 0 19812 0 4076 0 30235 0 15208 0 362591 0 0 0 MICHAEL ANDERSON CHIEF INFORMATION SYSTEMS OFFICER 247332 0 34427 0 14762 0 22463 0 17718 0 336702 0 0 0 DEANA TURCOTT CHIEF HUMAN RESOURCES OFFICER 246135 0 14426 0 9163 0 25239 0 17718 0 312681 0 0 0 ADAM KOISHOR CHIEF STRATEGY OFFICER 212721 0 25236 0 -1349 0 21931 0 17626 0 276165 0 0 0 DANIEL GATFIELD CHIEF RETAIL OFFICER 211984 0 14496 0 12541 0 11257 0 17623 0 267901 0 0 0 JOSE CANO DIRECTOR OF COMMERCIAL LENDING 231577 0 10166 0 6477 0 23876 0 7277 0 279373 0 0 0 DEREK DRAKE DIRECTOR OF ENTERPRISE RISK MANAGEMENT 201753 0 15272 0 7603 0 6557 0 17438 0 248623 0 0 0 KEVIN CARAGAY COMMERCIAL LENDING MANAGER 162467 0 16097 0 8176 0 16750 0 17328 0 220818 0 0 0 ANNA MORRIS REGIONAL BRANCH OPS MANAGER 171046 0 7561 0 -871 0 17681 0 13833 0 209250 0 0 0 KEVIN ALGEO DIRECTOR OF CONSUMER LENDING 169196 0 9221 0 2143 0 13365 0 7106 0 201031 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel THIS IS A BENEFIT FOR VOLUNTEERS AND SELECT MEMBERS OF SENIOR MANAGEMENT. TRAVEL EXPENSES FOR COMPANIONS ARE TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Travel for companions TRAVEL FOR COMPANIONS OF VOLUNTEERS AND SENIOR MANAGEMENT IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments THE PRESIDENT/CEO RECEIVED A GROSS UP PAYMENT TO COVER TAXES ON IMPUTED INTEREST ON SERP. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan BRIAN WALDRON PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMNTAL RETIREMENT PLAN - HIS LOAN RELATED TO THIS PLAN IS SHOWN ON SCHEDULE L. DORT FINANCIAL CREDIT UNION HAS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). IN 2024, BRIAN WALDRON ACCRUED BENEFITS AS A PARTICIPANT IN THE SERP PLAN, BUT DID NOT VEST IN THE PLAN. BRIAN WALDRON PRESIDENT/CEO EXECUTIVE BENEFIT LOAN X 10060262 10474214 false true true 10474214 Form 990, Part VI, Line 6 Classes of members or stockholders ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE BOARD OF DIRECTORS IS ELECTED AT THE ANNUAL MEETING. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY THE MEMBERS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE CEO AND CFO REVIEW THE COMPLETED FORM 990 PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy CONFLICT OF INTEREST FORMS ARE COMPLETED ANNUALLY AND ANSWERS ARE REVIEWED BY HUMAN RESOURCES. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE CREDIT UNION USES A 3RD PARTY SOFTWARE (COMPEASE) TO SET SALARIES VIA PAY GRADES FOR ALL POSITIONS IN THE CREDIT UNION. INFORMATION IS PROVIDED INDEPENDENTLY BY A 3RD PARTY, IS UPDATED ANNUALLY IN THE 3RD OR 4TH QUARTER OF EVERY YEAR, AND IS IMPLEMENTED IN APRIL OF THE FOLLOWING YEAR. ALL PAY GRADES ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2024. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE CREDIT UNION USES A 3RD PARTY SOFTWARE (COMPEASE) TO SET SALARIES VIA PAY GRADES FOR ALL POSITIONS IN THE CREDIT UNION. INFORMATION IS PROVIDED INDEPENDENTLY BY A 3RD PARTY, IS UPDATED ANNUALLY IN THE 3RD OR 4TH QUARTER OF EVERY YEAR, AND IS IMPLEMENTED IN APRIL OF THE FOLLOWING YEAR. ALL PAY GRADES ARE REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST UNDERTAKEN IN 2024. Form 990, Part VI, Line 19 Required documents available to the public CREDIT UNION BYLAWS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE CREDIT UNION'S MAIN OFFICE. MONTHLY FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY OF ALL CREDIT UNION BRANCH LOCATIONS WHICH ARE ACCESSIBLE TO THE GENERAL PUBLIC. THE QUARTERLY FINANCIAL PERFORMANCE REPORTS ARE ALSO AVAILABLE AT WWW.NCUA.GOV. Form 990, Part XI, Line 9 Other changes in net assets or fund balances POSTRETIREMENT BENEFIT PLAN - -820502; Total - -820502; Form 990, Part XII, Line 2c Change of oversight process or selection process THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.