2025-11-14T14:23:28+00:00 2024-12-31 331498605 PLANTE & MORAN PLLC 10 SOUTH RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 381524350 4FRONT CREDIT UNION 4FRO 2319292000 PO BOX 795 TRAVERSE CITY MI 49685 DAVE SEMAN CHIEF FINANCIAL OFFICER 2319325202 2025-11-14 true DAVID LOWENTHAL CPA P00378651 3122071040 2025-11-14 2024 2025-03-06 01:10:19Z ANDREW KEMPF PO BOX 795 TRAVERSE CITY MI 49685 88713712 false X WWW.4FRONTCU.COM X 1954 MI TO PROVIDE FINANCIAL SERVICES TO MEMBERS WITH A COMMON BOND. 9 9 359 9 219167 0 0 0 67571354 72284944 3435805 4271693 1340446 -305370 72347605 76251267 0 0 12040049 0 19914744 22116843 0 0 0 36266311 54714538 68221104 76831381 4126501 -580114 1086820765 1028814833 1004190107 943339336 82630658 85475497 TO PROVIDE FINANCIAL SERVICES TO MEMBERS WITH A COMMON BOND. false false THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES OF DEPOSITS AND OTHERS. THE TOTAL NUMBER OF MEMBERS AT 12/31/24 WAS 105,437. THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARDS, VEHICLE AND OTHERS. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/24 WAS 55,885. 0 false false false false false false false false false false true true false false true false false false false false false false false false false false false false false true false false false false false true false false false false false false false false true false false false false false true 1928 0 true 359 true true true false false false false false false false false false false false X 9 9 false false false false true true true true true false true true false true true true true true true true false false X Abigail Hubbard 2319432709 305 W FRONT ST TRAVERSE CITY MI 49684 BRYAN LINDFORS VICE CHAIRMAN 1.0 0.0 X X 0 0 0 JOHN JACK HODGE TREASURER 1.0 0.0 X X 0 0 0 MICHAEL SKYLER FORT SECRETARY 1.0 0.0 X X 0 0 0 TODD ROHRBACK CHAIRMAN OF THE BOARD 1.0 0.0 X X 0 0 0 BRIAN AUSDEMORE DIRECTOR 1.0 0.0 X 0 0 0 CHARLES HAGUE DIRECTOR 1.0 0.0 X 0 0 0 JULIE KOSLOSKEY DIRECTOR 1.0 0.0 X 0 0 0 MATILYN MATTIE MEADOWS DIRECTOR 1.0 0.0 X 0 0 0 MIKE SLATER DIRECTOR 1.0 0.0 X 0 0 0 ANDREW KEMPF CEO 40.0 0.0 X 552349 0 84960 KARL PAGEL CFO 40.0 0.0 X 322666 0 77090 DANIEL BAKER CLO 40.0 0.0 X 230011 0 40954 JACK MARTIN CIO 40.0 0.0 X 272965 0 55657 SHELLEY DEYOUNG COO - PART YEAR 40.0 0.0 X 128556 0 23916 ABIGAIL HART VP OPERATIONS 40.0 0.0 X 133264 0 14401 GEOFF STREIT VP COMMERCIAL LENDING 40.0 0.0 X 341329 0 54332 GREG SNOVER VP INFORMATION TECHNOLOGY 40.0 0.0 X 122154 0 36552 NATHAN PETERSON VP LENDING 40.0 0.0 X 133488 0 35592 RACHEL HUNTER CMO 40.0 0.0 X 121506 0 20925 2358288 0 444379 18 false true false Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 753205970 ONLINE BANKING 1616598 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DEBIT/CREDIT CARD PROCESSING 1237951 CITY OF TRAVERSE CITY 500 BOARDMAN AVE TRAVERSE CITY MI 49684 PROPERTY TAXES 930924 DOXIM INC PO BOX 933472 CLEVELAND OH 44193 STATEMENT AND NOTICE MAILING 708519 NORTH COAST LEGAL 800 COTTAGEVIEW DR SUITE 1080A TRAVERSE CITY MI 49684 REPO COLLECTION SERVICES 601475 36 0 INTEREST ON LOANS 522100 53676288 53676288 OTHER PROGRAM SERVICE REVENUE 522100 11168246 11130084 38162 FEES & CHARGES 522100 7440410 7279118 161292 0 0 0 0 72284944 4195868 4195868 705704 21528 684176 0 684176 684176 12419857 96885 12420599 20318 -742 76567 75825 75825 OTHER NON-INTEREST INCOME 522100 -989546 -1009259 19713 0 0 0 0 -989546 76251267 75272099 219167 760001 1789125 15916316 1139655 1934041 1337706 43613 1184752 1513662 14367217 2488749 83828 395672 14240100 3773025 PROVISION FOR CREDIT LOSS 10943417 LOAN SERVICING EXPENSE 5139424 MISC OPERATING EXPENSES 378011 INCOME TAX EXPENSE 14368 148700 76831381 15285611 17747994 21683850 31580165 4842965 4163786 5635336 5920694 0 0 774043447 724005685 1770164 1943538 50463285 2840361 50159445 47622924 164709232 140540571 0 19657700 19842239 29033015 35447237 1086820765 1028814833 4669832 3030740 0 0 3000000 40000000 996520275 900308596 1004190107 943339336 X 82630658 85475497 82630658 85475497 1086820765 1028814833 -580114 3524305 -99352 0 X false false false 6159809 6159809 36286540 1333297 34953243 9166 5266 3900 6947542 1481752 5465790 1060228 20046 1040182 47622924 Closely-held equity interests Financial derivatives AFS SECURITIES 126400796 F PERPETUAL CONTRIBUTED CAPITAL 5000000 C INV IN CORPORATE CREDIT UNION 2000000 C ALL OTHER INVESTMENTS 7139775 C 140540571 Federal Income Taxes MEMBER SHARES OF ALL TYPES 897065873 NONMEMBER DEPOSITS 3242000 ALLOWANCE FOR CREDIT LOSSES - OFF BALANCE SHEET 723 900308596 X X X X false true false ANDREW KEMPF CEO 470854 0 79253 0 2242 0 60735 0 24225 0 637309 0 0 0 KARL PAGEL CFO 290878 0 31248 0 540 0 54842 0 22248 0 399756 0 0 0 JACK MARTIN CIO 244129 0 26514 0 2322 0 30407 0 25250 0 328622 0 0 0 DANIEL BAKER CLO 209955 0 19640 0 416 0 19592 0 21362 0 270965 0 0 0 SHELLEY DEYOUNG COO - PART YEAR 85237 0 23184 0 20135 0 15191 0 8725 0 152472 0 0 0 GEOFF STREIT VP COMMERCIAL LENDING 100453 0 240636 0 240 0 29882 0 24450 0 395661 0 0 0 NATHAN PETERSON VP LENDING 130296 0 3000 0 192 0 15190 0 20402 0 169080 0 0 0 GREG SNOVER VP INFORMATION TECHNOLOGY 117922 0 3200 0 1032 0 15190 0 21362 0 158706 0 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan ANDREW KEMPF PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN - HIS LOAN RELATED TO THIS PLAN IS SHOWN ON SCHEDULE L. David Leusink Former CEO Split Dollar Loan X 3700000 3877900 false true true Andrew Kempf CEO Split Dollar Loan X 1850000 2042794 false true true 5920694 Schedule L, Part II NOTED THESE TO BE NON-RECOURSE PLANS THAT ARE RECORDED ON THE BALANCE SHEET AT THE LOWER OF LOAN BALANCE OR CASH SURRENDER VALUE. BECAUSE THE CASH SURRENDER VALUE WAS LOWER, WE REPORTED THAT AMOUNT FOR BALANCE SHEET PURPOSES. HOWEVER, THE ACTUAL LOAN BALANCE IS AS FOLLOWS: DAVID LEUSINK - $4,527,637 ANDREW KEMPF - $2,264,962 Form 990, Part VI, Line 6 Classes of members or stockholders THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS VOTE AND ELECT BOARD MEMBERS AT ANNUAL MEETING. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE 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, Line 11b Review of form 990 by governing body MANAGEMENT REVIEWS THE TAX RETURN PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE ORGANIZATION'S OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS THEY MAY HAVE WITH THE ORGANIZATION. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE, OR SIMILAR ACTION ON THE MATTER. MANAGEMENT RESERVES THE RIGHT TO DETERMINE WHEN AN EMPLOYEE'S ACTIVITIES REPRESENT A CONFLICT OF INTEREST AND TO TAKE WHATEVER ACTION IS APPROPRIATE TO RESOLVE THE SITUATION. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE CEO RECEIVES A PERFORMANCE APPRAISAL FROM THE ENTIRE BOARD AND THEN THE COMPENSATION COMMITTEE MAKES A RECOMMENDATION TO THE BOARD FOR COMPENSATION BASED ON THE RESULTS OF THE APPRAISAL. WAGE RANGES ARE SET BASED ON COMPENSABLE FACTORS USING DDJ MYERS (A COMPANY THAT LOOKS AT NATIONAL, REGIONAL, STATE AND AREA COMPENSATION SURVEYS). THIS PROCESS TAKES PLACE ANNUALLY, AND IS DOCUMENTED IN COMPENSATION COMMITTEE MINUTES. RESULTS ARE REPORTED TO THE BOARD, BUT THE DETAILS ARE IN THE COMPENSATION COMMITTEE MINUTES. IN ADDITION TO DDJ MYERS, COMPARABILITY DATA WAS PROVIDED TO THE COMPENSATION COMMITTEE/BOARD FROM GALLAGHER EXECUTIVE COMPENSATION ANALYSIS. THIS PROCESS WAS LAST COMPLETED IN YEAR 2024. Form 990, Part VI, Line 15b Process to establish compensation of other employees ON AN ANNUAL BASIS FOR ALL "C" LEVEL EMPLOYEES, INDUSTRY SURVEYS INCLUDING GALLAGHER REPORT, CUES EXECUTIVE SALARY REPORT, AND 990 DATA ARE USED TO ESTABLISH SALARY BASED ON EMPLOYEE ROLE, EXPERIENCE, AND PERFORMANCE. THE COMPANY SALARY AND WAGE BUDGET, EXCEPT FOR CEO, IS REVIEWED/APPROVED DURING THE ANNUAL BUDGETING PROCESS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. Form 990, Part VI, Line 19 Required documents available to the public MONTHLY FINANCIALS AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE CREDIT UNIONS MAIN OFFICES AT 101 N. PARK ST., TRAVERSE CITY, MI Form 990, Part XII, Line 2b There was a consolidated audit for the twelve months ended March 31, 2025. There is no audit performed for the filing period of the 990. 4FRONT CAPITAL LLC PO BOX 795 TRAVERSE CITY MI 49685 841913699 INVESTMENTS MI 0 0 4FRONT CREDIT UNION