2025-11-12T11:32:05-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 381461385 ALPENA ALCONA AREA CREDIT UNION ALPE 9893563577 PO BOX 515 ALPENA MI 49707 DONALD J MILLS PRESIDENT/CEO 9893563577 2025-11-11 1 0 AUBREY CLEGG P01076395 3052328272 2025-11-11 2024 2025-03-06 01:10:19Z DONALD J MILLS PO BOX 515 ALPENA MI 49707 50284698 0 X WWW.AAACU.COM X CREDIT UNION 1953 MI TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND. 11 11 177 15 48288 0 0 0 28330527 35878227 10955205 13947077 290715 188534 39576447 50013838 22000 25000 0 0 9369066 11296552 0 0 0 20322079 27956807 29713145 39278359 9863302 10735479 775495270 861392444 687846478 762946717 87648792 98445727 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. 0 0 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. 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. 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. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 21591 0 1 177 1 1 1 0 0 0 0 0 0 0 X 11 11 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ALPENA ALCONA AREA CREDIT UNION 9893563577 1100 S BAGLEY ALPENA MI 49707 CHARLIE NEGRO CHAIRPERSON 2.00 X 0 0 0 SHEILA PANKNIN VICE CHAIRPERSON 2.00 X 0 0 0 TERRY NELKIE TREASURER 2.00 X 0 0 0 BRIAN SHUMAKER SECRETARY 2.00 X 0 0 0 MICHELLE CORNISH DIRECTOR 2.00 X 0 0 0 ANN MARTIN DIRECTOR 2.00 X 0 0 0 JAMES MCNEIL DIRECTOR 2.00 X 0 0 0 MARK DEVERS ASSOCIATE BOARD MEMBER 2.00 X 0 0 0 JAMES GORMAN ASSOCIATE BOARD MEMBER 2.00 X 0 0 0 SCOTT MCLENNAN DIRECTOR 2.00 X 0 0 0 ANNE WIRGAU DIRECTOR 2.00 X 0 0 0 DONALD J MILLS PRESIDENT/CEO 40.00 X 548662 0 302674 JAMIE QUICK DIRECTOR OF ACCOUNTING 40.00 X 114194 0 17050 ANGELA SZATKOWSKI COO 40.00 X 209165 0 28516 ANNAH ORBAN MORTGAGE ORIGINATOR 40.00 X 201858 0 42174 SHEILA LING MORTGAGE ORIGINATOR 40.00 X 137517 0 22532 BARBARA MILLS CXO 40.00 X 236207 0 30392 JEROME SCHMIDT COMMERCIAL LOAN OFFICER 40.00 X 137087 0 22905 1584690 0 466243 13 0 1 0 CUANSWERS 6000 28TH STREET GRAND RAPIDS MI 49546 DATA PROCESSING 1312321 DIEBOLD NIXDORF PO BOX 643543 PITTSBURGH PA 15264 ATM SERVICING 165876 FACTUAL DATA PO BOX 640495 PITTSBURGH PA 15264 CREDIT REPORTS 127354 DELL MARKETING LP PO BOX 643561 PITTSBURGH PA 15264 TECH & EQUIPMENT 126752 NEIGHBORHOOD MORTGAGE SOLUTIONS 975 N MAIN SUITE D FRANKENMUTH MI 48734 MORTGAGE SERVICING 109677 6 LOAN INTEREST 522100 28177869 28177869 FEE AND OTHER INCOME 522100 7652070 7652070 FINANCE & INSURANCE 520000 48288 48288 35878227 13999511 13999511 218426 270860 -52434 -52434 -52434 CUSO INCOME 522100 188534 188534 188534 50013838 49965550 48288 0 X 25000 982580 7082123 847708 1730137 654004 26635 61760 503479 1311982 1620120 128782 376899 37022 247978 14613168 32529 552458 155576 PROVISION FOR LOAN LOSS 3199996 LOAN SERVICING 2851553 ATM EXPENSES 1422736 DEBIT REWARDS PROGRAM 364108 450026 39278359 3531913 4215549 36035803 49340836 20221 39422 445891851 506304689 317804 314077 14646421 7999206 6666771 6647215 245981664 255672964 24464797 24488545 2559843 2280587 10024603 12088560 775495270 861392444 6579322 7535450 681267156 755411267 687846478 762946717 X 0 0 0 0 87648792 98445727 87648792 98445727 775495270 861392444 10735479 61456 0 X X 0 1 X 1 0 1404002 1404002 7743166 3479756 4263410 5499253 4519450 979803 6647215 CERTIFICATES OF DEPOSIT 117440000 C CUSO INVESTMENT - CREDIT UNION TRUST 582107 C CUSO INVESTMENT - CU SOLUTIONS GROUP 194288 C CUSO INVESTMENT - CU*ANSWERS 158000 C CUSO INVESTMENT - MI TRUSTED TITLE AGENCY 4836 C CUSO INVESTMENT - NIS LLC 9314738 C CUSO INVESTMENT - SC24 & CO-OP NETWORK 322164 C FEDERAL RESERVE BANK 104059874 C FEDERAL AGENCY SECURITIES 10539766 F CORPORATE BONDS 1289105 F MUNICIPAL BONDS 1185943 F MORTGAGE BACKED SECURITIES 4808327 F COLLATERALIZED MORTGAGE OBLIGATIONS 1122144 F US TREASURY NOTES 3440625 F AFS CERTIFICATES OF DEPOSIT 1211047 F 255672964 MEMBER SHARES 755411267 755411267 X 50013838 0 50013838 0 50013838 39278359 0 39278359 0 39278359 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE (IRC SECTION 501(C)(14)), FROM FEDERAL INCOME TAX. 1 SCHOLARSHIPS 25 25000 PART I, LINE 2: 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. X X X X 0 1 0 DONALD J MILLS PRESIDENT/CEO 456517 0 90339 0 1806 0 273504 0 29170 0 851336 0 0 0 BARBARA MILLS CXO 183171 0 52172 0 864 0 26525 0 3867 0 266599 0 0 0 ANNAH ORBAN MORTGAGE ORIGINATOR 47401 0 154386 0 71 0 23487 0 18687 0 244032 0 0 0 ANGELA SZATKOWSKI COO 176958 0 31665 0 542 0 23525 0 4991 0 237681 0 0 0 SHEILA LING MORTGAGE ORIGINATOR 47804 0 89478 0 235 0 15444 0 7088 0 160049 0 0 0 JEROME SCHMIDT COMMERCIAL LOAN OFFICER 120821 0 15274 0 992 0 15311 0 7594 0 159992 0 0 0 PART I, LINE 4B 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. DONALD J MILLS PRESIDENT/CEO 851336 EMPLOYEE COMPENSATION/BENEFITS 0 BARBARA MILLS CHIEF EXPERIENCE OFFICER 266599 EMPLOYEE COMPENSATION/BENEFITS 0 FORM 990, SCH L, PART 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. 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. NEIGHBORHOOD INCOME SOLUTIONS 1100 S BAGLEY STREET ALPENA MI 49707 464364566 HOLDING COMPANY MI N/A RELATED 644788 15750049 0 0 0.33330 CREDIT UNION TRUST 1100 S BAGLEY ST ALPENA MI 49707 832876547 TRUST DEPOSIT SERVICES MI N/A C -103691 612209 0.12500 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CREDIT UNION TRUST B 100000 ACTUAL CAPITAL CONTRIBUTION