2014-05-15T13:45:44-05:00 2013-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2013-01-01 381629793 MICHIGAN SCHOOLS & GOVERNMENT CREDIT UNION MICH 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 STEVE BREWER CFO 5862638800 2014-05-15 1 LYNNE HUISMANN P00053811 2483757100 2013 2015-11-30 17:44:51Z PETER GATES 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 291747742 0 1359 X WWW.MSGCU.ORG X 1954 MI CREDIT UNION OPERATED FOR MUTUAL PURPOSES. 9 9 297 11 0 0 0 0 45423192 51715939 4706474 5765889 0 0 50129666 57481828 81707 97309 0 0 13349335 16790013 0 0 0 21904293 25887057 35335335 42774379 14794331 14707449 1235168777 1441874463 1095357761 1287355998 139811016 154518465 X WE ARE A CARING ORGANIZATION DEDICATED TO PROMOTING FINANCIAL SUCCESS FOR OUR MEMBERS. 0 0 MICHIGAN SCHOOLS AND GOVERMENT CREDIT UNION IS A FULL SERVICE FINANCIAL INSITUTION SERVING APPROXIMATELY 86,238 MEMBERS WITHIN SOUTHEASTERN MICHIGAN. THE CREDIT UNION FOCUSES ON MEETING THE NEEDS OF SCHOOL EMPLOYEES, STUDENTS AND ALUMNI, AND GOVERNMENT WORKERS WITHIN AN EIGHT COUNTY AREA. MAJOR PROJECTS AND SERVICES INCLUDE CONSUMER LENDING, A VARIETY OF SAVINGS AND INVESTMENT PRODUCTS, MORTGAGE LENDING, AND ANCILLARY SERVICES SUCH AS FINANCIAL EDUCATION AND SCOLARSHIP PROGRAMS. AT THE END OF 2013 OUR LENDING PORTFOLIO TOTALED JUST OVER $1.015 BILLION. THE CONSUMER LENDING PORTION OF THE PORTFOLIO WAS JUST OVER $534 MILLION. THE MORTGAGE PORTFOLIO WAS JUST OVER $412 MILLION AND THE BUSINESS LOAN PORTFOLIO WAS ALMOST $69 MILLLION, THE SAVINGS PORTFOLIO WAS $1.215 BILLION. DURING 2013, THE CREDIT UNION SERVED HUNDREDS OF MEMBERS WITH OUR FINANCIAL EDUCATION WORKSHOPS, WHICH FEATURED TOPICS LIKE HOME BUYING, WILLS AND TRUSTS, UNDERSTANDING CREDIT REPORTS AND CREDIT SCORES, FRAUDS AND SCAMS, STUDENT LOANS, AND COLLEGE FINANCIAL AID. MSGCU ALSO HOSTED SEVEN YOUTH CHECKING AND CREDIT WORKSHOPS FOR STUDENTS AGE 16 AND 17. THE CREDIT UNION CONTINUED ITS SCHOLARSHIP PROGRAM BY PROVIDING $12,000 TO HIGH SCHOOL MEMBERS ENTERING COLLEGE, $5,000 TO MEMBERS LOOKING TO BECOME FUTURE EDUCATORS, AND AN ADDITIONAL $30,000 IN SCHOLARSHIPS ISSUED DIRECTLY TO SCHOOL DISTRICTS. IN ADDITION TO THESE DOLLARS, MSGCU PARTNERED WITH MACOMB COMMUNITY COLLEGE AND OAKLAND COMMUNITY COLLEGE TO AWARD $5,000 TO EACH SCHOOL'S FIRE AND POLICE PROGRAMS. IN TOTAL, THE CREDIT UNION'S SCHOLARSHIP PROGRAM AWARDED $57,000 TO STUDENTS SEEKING HIGHER EDUCATION IN 2013. THE CREDIT UNION ALSO CONTINUED ITS CLASSROOM GRANT PROGRAM, WHICH PROVIDES FUNDS TO TEACHERS TO BE USED FOR OTHERWISE UNFUNDED CLASSROOM PROJECTS. IN 2013, MSGCU AWARDED 57 MINI-GRANTS TOTALING OVER $40,309 TO LOCAL EDUCATORS TO BE USED DURING THE 2013/2014 SCHOOL YEAR. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 25426 0 1 297 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X PETER GATES 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 MILO PERREAULT CHAIRMAN 1.00 X X 0 0 0 WILLIAM CAYEN VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD MAIERLE SECRETARY 1.00 X X 0 0 0 STEPHEN THOMAS DIRECTOR 1.00 X 0 0 0 DOUGLAS SMITH DIRECTOR 1.00 X 0 0 0 EDWARD CALLAHAN DIRECTOR 1.00 X 0 0 0 JAMES MCCANN TREASURER 1.00 X X 0 0 0 RICHARD SHOEMAKER DIRECTOR 1.00 X 0 0 0 CHARLES THOMAS DIRECTOR 1.00 X 0 0 0 TERESA DIMARIA AUDIT COMMITTEE - AT LARGE 1.00 X 0 0 0 ELIZABETH ARGIRI AUDIT COMMITTEE - AT LARGE 1.00 X 0 0 0 PETER GATES CEO 40.00 X 603771 0 47570 LISA BURROUGHS COO 40.00 X 407725 0 28113 ROBERT BREWER CFO 40.00 X 260472 0 39551 SCOTT TOWNSEND CIO 40.00 X 228735 0 31787 TODD GUNDERSON CHIEF LENDING OFFICER 40.00 X 219704 0 50231 MICHAEL ZALEWSKI VP HR 40.00 X 154083 0 32037 1874490 0 229289 12 0 1 0 FIDELITY NATIONAL INFORMATION SERVICES 601 RIVERSIDE AVE JACKSONVILLE FL 32204 PLASTIC CARD SERVICES 1012369 DATA MAIL SERVICES 747 E WHITCOMB AVE MADISON HEIGHTS MI 48071 STATMENT PROCESSING 619050 HARRISON MEDIA 24416 CROCKER BLVD CLINTON TWP MI 48036 MARKETING 558377 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SOFTWARE 480346 FRANK REWOLD AND SONS INC 333 EAST SECOND STREET ROCHESTER MI 48307 CONSTRUCTION 469993 34 LOAN INCOME 522100 41580527 41580527 FEE INCOME 522100 10135412 10135412 51715939 4688960 4688960 232563614 2779229 231786602 2479312 777012 299917 1076929 1076929 57481828 56404899 0 1076929 50309 47000 651341 10509678 968976 3688218 971800 199872 1536925 1435666 1338644 1149809 1538966 73154 73565 115033 1443709 DIVIDEND AND INTEREST E 6456932 PROVISION FOR LOAN LOSS 4750000 OPERATING EXPENSES 2659833 LOAN SERVICING EXPENSE 1555147 1559802 42774379 4475226 3786194 49619398 208850 652055285 1006635339 676819 788735 30771887 10801339 19793788 19970548 470471237 360049256 15090397 13710400 22986627 36725141 1235168777 1441874463 5904519 6322222 1390907 1439897 1088062335 1279593879 1095357761 1287355998 X 0 0 0 0 139811016 154518465 139811016 154518465 1235168777 1441874463 14707449 0 X X 0 1 X 1 0 0 1 X 7050380 7050380 14187588 4344184 9843404 9533919 6457155 3076764 19970548 MEMBERS SHARES 1279593879 1279593879 X PART IV, LINE 2B: ESCROW ACCOUNTS WERE HELD IN RELATION TO MEMBER MORTGAGE LOANS. PART X, LINE 2: MSGCU IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. MSGCU IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. MSGCU'S WHOLLY OWNED SUBSIDIARY, SOCRE, HOWEVER, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. MANAGEMENT EVALUATED MSGCU'S TAX POSITIONS AND CONCLUDED THAT MSGCU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADUSTMENT TO THE CONSOLIDATED FINANCIAL STATMENTS. MSGCU FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MICHIGAN. 1 UTICA COMMUNITY SCHOOLS 11303 GREENDALE STERLING HEIGHTS MI 48312 386002552 115 5250 TO FUND CLASSROOM PROJECTS. COLLEGE SCHOLARSHIPS 51 47000 PART I, LINE 2: AN APPLICATION IS REQUIRED FROM THE TEACHER APPLYING FOR THE GRANT. GRANTS ARE PAYABLE DIRECTLY TO THE SCHOOL AND TEACHERS FILE PAPERWORK WITH THEIR SCHOOL FOR REIMBURSEMENT OF CLASSROOM EXPENSES. WE HAVE A SCHOLARSHIP COMMITTEE REVIEW AND SELECT SUBMISSIONS. X X 1 1 X X X X 0 1 0 PETER GATES CEO 520938 0 69065 0 13768 0 27265 0 20305 0 651341 0 0 0 LISA BURROUGHS COO 172462 0 47865 0 187398 0 17391 0 10722 0 435838 0 0 0 ROBERT BREWER CFO 218622 0 36660 0 5190 0 22575 0 16976 0 300023 0 0 0 SCOTT TOWNSEND CIO 193033 0 32087 0 3615 0 15010 0 16777 0 260522 0 0 0 TODD GUNDERSON CHIEF LENDING OFFICER 202513 0 16727 0 464 0 19348 0 30883 0 269935 0 0 0 MICHAEL ZALEWSKI VP HR 147346 0 4281 0 2456 0 15225 0 16812 0 186120 0 0 0 PART I, LINE 1A BOARD MEMBERS ARE ALLOWED TRAVEL FOR COMPANIONS. THE AMOUNTS ARE INCLUDED IN TAXABLE COMPENSATION. ALL EMPLOYEES ARE ELIGIBLE FOR THIS TAXABLE HEALTH AND FITNESS REIMBURSEMENT BENEFIT. PART I, LINE 4B THE CEO PARTICIPATES IN A 457(F) PLAN. HE RECEIVED NO PAYMENTS IN 2013. FORM 990, PART VI, SECTION A, LINE 6 EACH INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. 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 11 THE CEO, CFO, AND ACCOUNTING MANAGER REVIEW THE COMPLETED 990 FORM PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, CEO COMPENSATION IS RECOMMENDED BY THE PERSONNEL COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF DIRECTORS, AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. ON AN ANNUAL BASIS, ALL OTHER EMPLOYEE COMPENSATION IS SET BY THE CEO, SENIOR MANAGEMENT, AND HUMAN RESOURCES. WE UTILIZE D. HILTON, A THIRD PARTY COMPENSATION CONSULTANT IN JOB PRICING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBLITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. SOC REAL ESTATE INC 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 382658390 REAL ESTATE MI MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION C -283441 3777790 1.00000 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 SOC REAL ESTATE INC K 434810 MARKET LEASE RATES PER SQ FOOT SOC REAL ESTATE INC K 7480 ACTUAL COST SOC REAL ESTATE INC Q 120000 ALLOCATION