CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1461385)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-12
- IRS object ID
- 202513169349302366
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-12T11:32:05-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381461385 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALPENA ALCONA AREA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ALPE | BusinessNameControlTxt |
| Phone | 9893563577 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 515 | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DONALD J MILLS | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 9893563577 | PhoneNum |
| Signature | 2025-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2025-11-11 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DONALD J MILLS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 515 | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $50,284,698 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.AAACU.COM | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1953 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 177 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $48,288 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $28,330,527 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $35,878,227 | CYProgramServiceRevenueAmt |
| PY Investment Income | $10,955,205 | PYInvestmentIncomeAmt |
| CY Investment Income | $13,947,077 | CYInvestmentIncomeAmt |
| PY Other Revenue | $290,715 | PYOtherRevenueAmt |
| CY Other Revenue | $188,534 | CYOtherRevenueAmt |
| PY Total Revenue | $39,576,447 | PYTotalRevenueAmt |
| CY Total Revenue | $50,013,838 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $22,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $25,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,369,066 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,296,552 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $20,322,079 | PYOtherExpensesAmt |
| CY Other Expenses | $27,956,807 | CYOtherExpensesAmt |
| PY Total Expenses | $29,713,145 | PYTotalExpensesAmt |
| CY Total Expenses | $39,278,359 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $9,863,302 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $10,735,479 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $775,495,270 | TotalAssetsBOYAmt |
| Total Assets EOY | $861,392,444 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $687,846,478 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $762,946,717 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $87,648,792 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $98,445,727 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO BE YOUR MOST TRUSTED AND VALUED FINANCIAL PARTNER. MEMBER PROMISE: WE PROMISE TO SIMPLIFY YOUR LIFE, WORK IN YOUR BEST INTEREST, AND BE YOUR ADVOCATE TO HELP ACHIEVE YOUR FINANCIAL NEEDS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE 47,873 MEMBERS WITH REGULAR SAVINGS, PREFERRED SAVINGS, MONEY MARKET, SHARE DRAFTS, CHRISTMAS CLUB, VACATION CLUB, IRA, CERTIFICATES OF DEPOSIT, HEALTH SAVINGS AND ESCROW ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $755,411,000 AS OF DECEMBER 31, 2024. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDE 32,534 LOANS INCLUDING HOME EQUITY, MORTGAGE, VEHICLE, LINE OF CREDIT, OVERDRAFT PROTECTION, SIGNATURE, CREDIT CARD AND COMMERCIAL LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $511,818,000 AS OF DECEMBER 31, 2024. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, SAFE DEPOSIT BOXES, MONEY ORDERS/CASHIER'S CHECKS, OVERDRAFT PRIVILEGE, ONLINE/MOBILE BANKING SERVICES INCLUDING BILL PAY AND REMOTE DEPOSIT, FINANCIAL COUNSELING, IN-SCHOOL BRANCHES AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 21591 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 177 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALPENA ALCONA AREA CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9893563577 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 S BAGLEY | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| CHARLIE NEGRO | |||||||
| CHAIRPERSON | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SHEILA PANKNIN | |||||||
| VICE CHAIRPERSON | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| TERRY NELKIE | |||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BRIAN SHUMAKER | |||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHELLE CORNISH | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ANN MARTIN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES MCNEIL | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARK DEVERS | |||||||
| ASSOCIATE BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES GORMAN | |||||||
| ASSOCIATE BOARD MEMBER | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SCOTT MCLENNAN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ANNE WIRGAU | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DONALD J MILLS | |||||||
| PRESIDENT/CEO | 40.00 | $548,662 | $0 | $302,674 | Yes (X) | ||
| JAMIE QUICK | |||||||
| DIRECTOR OF ACCOUNTING | 40.00 | $114,194 | $0 | $17,050 | Yes (X) | ||
| ANGELA SZATKOWSKI | |||||||
| COO | 40.00 | $209,165 | $0 | $28,516 | Yes (X) | ||
| ANNAH ORBAN | |||||||
| MORTGAGE ORIGINATOR | 40.00 | $201,858 | $0 | $42,174 | Yes (X) | ||
| SHEILA LING | |||||||
| MORTGAGE ORIGINATOR | 40.00 | $137,517 | $0 | $22,532 | Yes (X) | ||
| BARBARA MILLS | |||||||
| CXO | 40.00 | $236,207 | $0 | $30,392 | Yes (X) | ||
| JEROME SCHMIDT | |||||||
| COMMERCIAL LOAN OFFICER | 40.00 | $137,087 | $0 | $22,905 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,584,690 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $466,243 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CUANSWERS | |||||
| 6000 28TH STREET | GRAND RAPIDS | MI | 49546 | DATA PROCESSING | $1,312,321 |
| DIEBOLD NIXDORF | |||||
| PO BOX 643543 | PITTSBURGH | PA | 15264 | ATM SERVICING | $165,876 |
| FACTUAL DATA | |||||
| PO BOX 640495 | PITTSBURGH | PA | 15264 | CREDIT REPORTS | $127,354 |
| DELL MARKETING LP | |||||
| PO BOX 643561 | PITTSBURGH | PA | 15264 | TECH & EQUIPMENT | $126,752 |
| NEIGHBORHOOD MORTGAGE SOLUTIONS | |||||
| 975 N MAIN SUITE D | FRANKENMUTH | MI | 48734 | MORTGAGE SERVICING | $109,677 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 6 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| LOAN INTEREST | 522100 | $28,177,869 | $28,177,869 | |
| FEE AND OTHER INCOME | 522100 | $7,652,070 | $7,652,070 | |
| FINANCE & INSURANCE | 520000 | $48,288 | $48,288 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $35,878,227 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,999,511 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,999,511 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $218,426 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $270,860 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$52,434 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$52,434 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$52,434 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CUSO INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $188,534 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $188,534 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $188,534 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $50,013,838 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $49,965,550 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $48,288 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $982,580 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,082,123 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $847,708 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,730,137 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $654,004 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,635 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $61,760 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $503,479 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,311,982 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,620,120 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $128,782 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,899 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,022 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $247,978 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,613,168 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,529 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $552,458 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,576 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $3,199,996 |
| LOAN SERVICING | $2,851,553 |
| ATM EXPENSES | $1,422,736 |
| DEBIT REWARDS PROGRAM | $364,108 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $450,026 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,278,359 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,531,913 | BOYAmt |
| EOY | $4,215,549 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,035,803 | BOYAmt |
| EOY | $49,340,836 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,221 | BOYAmt |
| EOY | $39,422 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $445,891,851 | BOYAmt |
| EOY | $506,304,689 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $317,804 | BOYAmt |
| EOY | $314,077 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $14,646,421 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,999,206 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,666,771 | BOYAmt |
| EOY | $6,647,215 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $245,981,664 | BOYAmt |
| EOY | $255,672,964 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,464,797 | BOYAmt |
| EOY | $24,488,545 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,559,843 | BOYAmt |
| EOY | $2,280,587 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,024,603 | BOYAmt |
| EOY | $12,088,560 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $775,495,270 | BOYAmt |
| EOY | $861,392,444 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,579,322 | BOYAmt |
| EOY | $7,535,450 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,267,156 | BOYAmt |
| EOY | $755,411,267 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $687,846,478 | BOYAmt |
| EOY | $762,946,717 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,648,792 | BOYAmt |
| EOY | $98,445,727 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,648,792 | BOYAmt |
| EOY | $98,445,727 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $775,495,270 | BOYAmt |
| EOY | $861,392,444 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $10,735,479 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $61,456 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,404,002 | OtherCostOrOtherBasisAmt |
| Book Value | $1,404,002 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,743,166 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,479,756 | DepreciationAmt |
| Book Value | $4,263,410 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,499,253 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,519,450 | DepreciationAmt |
| Book Value | $979,803 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,647,215 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (15 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CERTIFICATES OF DEPOSIT | $117,440,000 | C |
| CUSO INVESTMENT - CREDIT UNION TRUST | $582,107 | C |
| CUSO INVESTMENT - CU SOLUTIONS GROUP | $194,288 | C |
| CUSO INVESTMENT - CU*ANSWERS | $158,000 | C |
| CUSO INVESTMENT - MI TRUSTED TITLE AGENCY | $4,836 | C |
| CUSO INVESTMENT - NIS LLC | $9,314,738 | C |
| CUSO INVESTMENT - SC24 & CO-OP NETWORK | $322,164 | C |
| FEDERAL RESERVE BANK | $104,059,874 | C |
| FEDERAL AGENCY SECURITIES | $10,539,766 | F |
| CORPORATE BONDS | $1,289,105 | F |
| MUNICIPAL BONDS | $1,185,943 | F |
| MORTGAGE BACKED SECURITIES | $4,808,327 | F |
| COLLATERALIZED MORTGAGE OBLIGATIONS | $1,122,144 | F |
| US TREASURY NOTES | $3,440,625 | F |
| AFS CERTIFICATES OF DEPOSIT | $1,211,047 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $255,672,964 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $755,411,267 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $755,411,267 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $50,013,838 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $50,013,838 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $50,013,838 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $39,278,359 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $39,278,359 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $39,278,359 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL INCOME TAX. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 25 | RecipientCnt |
| Cash Grant | $25,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | SCHOLARSHIP APPLICANTS MUST HAVE THE FOLLOWING REQUIREMENTS TO BE ELIGIBLE: BE A GRADUATING SENIOR OR 13TH YEAR EARLY COLLEGE PROGRAM GRADUATE; BE A RESIDENT OF ALPENA, ALCONA, CHEBOYGAN, EMMET, IOSCO, MONTMORENCY OR PRESQUE ISLE COUNTY; ENROLL IN A FULL-TIME COLLEGE OR OTHER CONTINUING EDUCATION PROGRAM AFTER HIGH SCHOOL GRADUATION; MUST BECOME AN AAACU MEMBER BEFORE A SCHOLARSHIP IS DISBURSED; TWO TEACHER RECOMMENDATIONS; ONE OUTSIDE RECOMMENDATION; ANSWER THE QUESTION "WHAT DOES FINANCIAL LITERACY MEAN TO YOU?" IN ESSAY FORMAT; MUST BE AN ACTIVE USER ON ZOGO FINANCIAL LITERACY APP THROUGH AAACU AND HAVE COMPLETED AT LEAST 10 MODULES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DONALD J MILLS | ||||||||||||||
| PRESIDENT/CEO | $456,517 | $0 | $90,339 | $0 | $1,806 | $0 | $273,504 | $0 | $29,170 | $0 | $851,336 | $0 | $0 | $0 |
| BARBARA MILLS | ||||||||||||||
| CXO | $183,171 | $0 | $52,172 | $0 | $864 | $0 | $26,525 | $0 | $3,867 | $0 | $266,599 | $0 | $0 | $0 |
| ANNAH ORBAN | ||||||||||||||
| MORTGAGE ORIGINATOR | $47,401 | $0 | $154,386 | $0 | $71 | $0 | $23,487 | $0 | $18,687 | $0 | $244,032 | $0 | $0 | $0 |
| ANGELA SZATKOWSKI | ||||||||||||||
| COO | $176,958 | $0 | $31,665 | $0 | $542 | $0 | $23,525 | $0 | $4,991 | $0 | $237,681 | $0 | $0 | $0 |
| SHEILA LING | ||||||||||||||
| MORTGAGE ORIGINATOR | $47,804 | $0 | $89,478 | $0 | $235 | $0 | $15,444 | $0 | $7,088 | $0 | $160,049 | $0 | $0 | $0 |
| JEROME SCHMIDT | ||||||||||||||
| COMMERCIAL LOAN OFFICER | $120,821 | $0 | $15,274 | $0 | $992 | $0 | $15,311 | $0 | $7,594 | $0 | $159,992 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE PRESIDENT/CEO, DONALD J. MILLS, PARTICIPATES IN A 457(F) PLAN. PER THE AGREEMENT, HE IS ENTITLED TO RECEIVE PAYOUTS ON DATES SPECIFIED WITHIN THE AGREEMENT. THE PAYOUTS EQUATE A DESIGNATED PERCENTAGE OF THE EARNINGS ON THE CREDIT UNION'S ORIGINAL INVESTMENT IN THE PLAN. THE ORIGINAL INVESTMENT SHALL BE RETURNED TO THE CREDIT UNION UPON THE PRESIDENT/CEO'S FINAL PAYOUT. THERE WAS NO PAYOUT SCHEDULED DURING 2024. THE BENEFIT LIABILITY AS OF DECEMBER 31, 2024 APPROXIMATED 641,000. THE ACCRUED BENEFIT EXPENSE RECORDED FOR PRESIDENT/CEO'S FUTURE BENEFIT PAYOUT WAS $234,691 FOR THE YEAR ENDED DECEMBER 31, 2024. THE 2024 ACCRUED EXPENSE IS INCLUDED IN THE PRESIDENT/CEO'S DEFERRED COMPENSATION BENEFITS REPORTED IN PART II. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| DONALD J MILLS | |||
| PRESIDENT/CEO | $851,336 | EMPLOYEE COMPENSATION/BENEFITS | 0 |
| BARBARA MILLS | |||
| CHIEF EXPERIENCE OFFICER | $266,599 | EMPLOYEE COMPENSATION/BENEFITS | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART | FormAndLineReferenceDesc |
| Explanation | DONALD MILLS, THE PRESIDENT/CEO, IS MARRIED TO BARBARA MILLS, THE CHIEF EXPERIENCE OFFICER. BOTH ARE REPORTED IN PART VII. DONALD MILLS IS REPORTED AS AN OFFICER AND BARBARA MILLS IS REPORTED AS ONE OF THE FIVE HIGHEST COMPENSATED EMPLOYEES. CALCITE CREDIT UNION CEO BARBARA MILLS BECAME THE ALPENA ALCONA AREA CREDIT UNION'S CHIEF EXPERIENCE OFFICER WHEN CALCITE CREDIT UNION MERGED INTO ALPENA ALCONA AREA CREDIT UNION DURING 2023. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | DONALD MILLS, THE PRESIDENT/CEO, IS MARRIED TO BARBARA MILLS, THE CHIEF EXPERIENCE OFFICER. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. |
| FORM 990, PART VI, SECTION A, LINE 7A | BOARD MEMBERS ARE ELECTED FOR THREE YEAR TERMS BY THE MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS MUST APPROVE MERGERS AND BY-LAW CHANGES. |
| FORM 990, PART VI, SECTION B, LINE 11B | PRESIDENT/CEO AND ACCOUNTING SUPERVISOR REVIEW THE 990 AND SUPPORTING DOCUMENTS BEFORE PRESENTING TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AT A MONTHLY BOARD MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE POLICY IS DISTRIBUTED TO STAFF, BOARD OF DIRECTORS AND COMMITTEES ANNUALLY. IT IS MONITORED BY THE PRESIDENT/CEO, BOARD OF DIRECTORS AND KEY STAFF. ALL EMPLOYEES SIGN A CODE OF CONDUCT ANNUALLY. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR PRESIDENT/CEO IS DETERMINED BY A COMPENSATION COMMITTEE COMPRISED OF THREE BOARD MEMBERS WHO REVIEW COMPENSATION SURVEY INFORMATION AND MAKE A RECOMMENDATION TO THE FULL BOARD OF DIRECTORS WHO THEN VOTE ON THE RECOMMENDATION. THE LAST COMPENSATION REVIEW FOR THE PRESIDENT/CEO WAS PERFORMED IN FEBRUARY 2024. |
| FORM 990, PART VI, SECTION C, LINE 19 | 990 & 990T RETURNS ARE AVAILABLE UPON REQUEST. POLICIES AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST OF THE PRESIDENT/CEO. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY. FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON NCUA.GOV VIA THE QUARTERLY CALL REPORT. |
| FORM 990, PART IX, LINE 24E | MISCELLANEOUS EXPENSE 300,604. MAINTENANCE AND REPAIRS 149,422. |
| FORM 990, PART XII, LINE 2C | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTTE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEIGHBORHOOD INCOME SOLUTIONS | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 S BAGLEY STREET | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464364566 | EIN |
| Primary Activities | HOLDING COMPANY | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Predominant Income Type | RELATED | PredominantIncomeTypeTxt |
| Share Of Total Income | $644,788 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $15,750,049 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 0.33330 | OwnershipPct |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION TRUST | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 S BAGLEY ST | AddressLine1Txt |
| City | ALPENA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 49707 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 832876547 | EIN |
| Primary Activities | TRUST DEPOSIT SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | -$103,691 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $612,209 | ShareOfEOYAssetsAmt |
| Ownership | 0.12500 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION TRUST | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $100,000 | InvolvedAmt |
| Method Of Amount Determination | ACTUAL CAPITAL CONTRIBUTION | MethodOfAmountDeterminationTxt |