CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 38-1250516)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-11-04
- IRS object ID
- 201303089349300130
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2013-11-04T13:46:12-06:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381357951 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2601 CAMBRIDGE CT SUITE 500 | AddressLine1 |
| City | AUBURN HILLS | City |
| State | MI | State |
| ZIP Code | 48326 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381250516 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNIONS CHARTERED IN THE STATE OF | BusinessNameLine1 |
| Business Name Line2 | 222 LAKE TRUST CREDIT UNION | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | CRED | NameControl |
| Phone | 5172677200 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7927 NEMCO WAY NO 100 | AddressLine1 |
| City | BRIGHTON | City |
| State | MI | State |
| ZIP Code | 48116 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | BRIAN MCVEIGH | Name |
| Title | SENIOR VP & CFO | Title |
| Phone | 5172677200 | Phone |
| Date Signed | 2013-10-29 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LYNNE M HUISMANN | Name |
| PTIN | P00053811 | PTIN |
| Phone | 2483757100 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DAVID SNODGRASS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7927 NEMCO WAY NO 100 | AddressLine1 |
| City | BRIGHTON | City |
| State | MI | State |
| ZIP Code | 48116 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 256900719 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Group Exemption Number | 1359 | GroupExemptionNumber |
| Organization501c | X | Organization501c |
| Web Site | WWW.LAKETRUST.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1943 | YearFormation |
| State Legal Domicile | MI | StateLegalDomicile |
| Activity Or Mission Description | MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 472 | TotalNbrEmployees |
| Total Nbr Volunteers | 12 | TotalNbrVolunteers |
| Total Gross UBI | 376921 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -319165 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 78613523 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 76523136 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 7814521 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4718806 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 820875 | OtherRevenuePriorYear |
| Other Revenue Current Year | 809537 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 87248919 | TotalRevenuePriorYear |
| Total Revenue Current Year | 82051479 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 26898280 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 26296220 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 55570430 | OtherExpensePriorYear |
| Other Expenses Current Year | 51419848 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 82468710 | TotalExpensesPriorYear |
| Total Expenses Current Year | 77716068 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 4780209 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 4335411 | RevenuesLessExpensesCY |
| Total Assets BOY | 1516907106 | TotalAssetsBOY |
| Total Assets EOY | 1562253286 | TotalAssetsEOY |
| Total Liabilities BOY | 1374423320 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1409974035 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 142483786 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 152279251 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | PROMOTED THRIFT TO 155,575 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 1 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 40589 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 472 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | BRIAN MCVEIGH | NamePerson |
| Telephone Number | 5172677218 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7927 NEMCO WAY | AddressLine1 |
| City | BRIGHTON | City |
| State | MI | State |
| ZIP Code | 48116 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (23 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| LAWRENCE LEHMAN | |||||||||
| CHAIRPERSON | 10.00 | X | X | 351 | 0 | 0 | |||
| SHANE LOVELETTE | |||||||||
| VICE CHAIRPERSON | 5.00 | X | X | 3999 | 0 | 0 | |||
| JAMES BONNER | |||||||||
| SECRETARY | 5.00 | X | X | 2904 | 0 | 0 | |||
| RAY SEIDL | |||||||||
| TREASURER | 10.00 | X | X | 6100 | 0 | 0 | |||
| JAMES BARNES | |||||||||
| DIRECTOR | 4.00 | X | 1524 | 0 | 0 | ||||
| KIMBERLY BISHOP | |||||||||
| DIRECTOR | 4.00 | X | 40 | 0 | 0 | ||||
| PHILIP CZECH | |||||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | ||||
| RICK LABER | |||||||||
| DIRECTOR | 4.00 | X | 865 | 0 | 0 | ||||
| ROBERT PEPLOWSKI | |||||||||
| DIRECTOR | 4.00 | X | 1660 | 0 | 0 | ||||
| BERNICE SULLIVAN | |||||||||
| DIRECTOR | 4.00 | X | 925 | 0 | 0 | ||||
| DENNIS TOCHMAN | |||||||||
| DIRECTOR | 4.00 | X | 1965 | 0 | 0 | ||||
| FREDA VELZEN | |||||||||
| DIRECTOR | 4.00 | X | 539 | 0 | 0 | ||||
| DAVID SNODGRASS | |||||||||
| CEO AND PRESIDENT | 40.00 | X | 448669 | 0 | 34485 | ||||
| BRIAN MCVEIGH | |||||||||
| SR VP, CORP SVCS/CFO | 40.00 | X | 233359 | 0 | 33294 | ||||
| CAROL GALIZIA | |||||||||
| SR VP, RETAIL DEL. | 40.00 | 237757 | 0 | 26159 | X | ||||
| JANE KILE | |||||||||
| SR VP, STRATEGIC SVCS | 40.00 | 211109 | 0 | 18058 | X | ||||
| RAYNOR ZILLIGTT | |||||||||
| VP, GENERAL COUNCIL | 40.00 | 176727 | 0 | 30675 | X | ||||
| KEVIN NEUGENT | |||||||||
| VP, INFORMATION TECHNOLOGY | 40.00 | 180070 | 0 | 31003 | X | ||||
| CHARLES HENSLEY | |||||||||
| VP, LENDING | 40.00 | 172093 | 0 | 16433 | X | ||||
| SHEILA COLLINS | |||||||||
| VP, RETAIL DELIVERY | 40.00 | 162941 | 0 | 24667 | X | ||||
| KARA STUEWE | |||||||||
| VP, TREASURY | 40.00 | 161217 | 0 | 29399 | X | ||||
| STEPHEN WINNIGER | |||||||||
| FORMER CEO | 0.00 | 112119 | 0 | 396 | X | ||||
| SUSAN HUGHES | |||||||||
| FORMER OFFICER | 0.00 | 166005 | 0 | 0 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2282938 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 244569 | TotalOtherCompensation |
| Number Individuals GT100 K | 20 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| PSCU | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CREDIT, DEBIT & ATM CARD SERVICES | 3051087 |
| CU COOPERATIVE SYSTEMS | |||||
| 9692 HAVEN AVENUE | RANCHO CUCAMONGA | CA | 91730 | SERVICE CENTER & DR/ATM CARD TRANSACTION | 973210 |
| PWB MARKETING COMMUNICATIONS | |||||
| 2723 SOUTH STATE STREET | ANN ARBOR | MI | 48104 | MARKETING SERVICES | 705604 |
| OPEN SOLUTIONS | |||||
| PO BOX 416564 | BOSTON | MA | 02241 | CORE SYSTEM PROVIDER | 410078 |
| BANCVUE LTD | |||||
| PO BOX 527 | LUBBOCK | TX | 79408 | PROFESSIONAL SERVICES RELATED TO REWARDS | 361239 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 23 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| MEMBER LOAN INCOME | 522100 | 56503614 | 56503614 |
| FEE INCOME | 522100 | 20019522 | 20019522 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 76523136 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 6613233 | TotalRevenueColumn |
| Related Or Exempt Function Income | 6613233 | RelatedOrExemptFunctionIncome |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 94726 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 116148 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -21422 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -21422 | TotalRevenueColumn |
| Exclusion | -$21,422 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 168920000 | Securities |
| Other | 3918665 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 168220549 | Securities |
| Other | 6512543 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 699451 | Securities |
| Other | -2593878 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -1894427 | TotalRevenueColumn |
| Exclusion | -$1,894,427 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INSURANCE INCOME | 525990 | 649422 | 454038 | 195384 |
| NON-MEMBER ATM INCOME | 525990 | 181537 | 181537 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 830959 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 82051479 | TotalRevenueColumn |
| Related Or Exempt Function Income | 83590407 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 376921 | UnrelatedBusinessRevenue |
| Exclusion | -$1,915,849 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1263901 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18318083 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1037150 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3946095 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1730991 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 220866 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 179114 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 237677 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2354722 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2148648 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4960212 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4041504 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4260043 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 817981 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 530050 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6838304 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 9358281 |
| DIVIDENDS AND INTEREST | 7541520 |
| LOAN SERVICING | 3565559 |
| NCUSIF PREMIUM | 1268326 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3097041 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 77716068 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13269056 | BOY |
| EOY | 13110998 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80299571 | BOY |
| EOY | 52633933 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2596006 | BOY |
| EOY | 5089240 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 926351637 | BOY |
| EOY | 1006037603 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1810159 | BOY |
| EOY | 1470399 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 54778241 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 14403372 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39606979 | BOY |
| EOY | 40374869 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 349644613 | BOY |
| EOY | 339241021 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 64283992 | BOY |
| EOY | 60779814 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39045093 | BOY |
| EOY | 43515409 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1516907106 | BOY |
| EOY | 1562253286 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13045334 | BOY |
| EOY | 10989605 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 825077 | BOY |
| EOY | 709014 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21359074 | BOY |
| EOY | 17176622 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1339193835 | BOY |
| EOY | 1381098794 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1374423320 | BOY |
| EOY | 1409974035 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16560477 | BOY |
| EOY | 16560477 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 125923309 | BOY |
| EOY | 135718774 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 142483786 | BOY |
| EOY | 152279251 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1516907106 | BOY |
| EOY | 1562253286 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 4335411 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 415147 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 5044907 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
| Explanation In Part XIII | X | ExplanationInPartXIII |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 9064282 | InvestmentCostOrOtherBasis |
| Book Value | 9064282 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 29319791 | InvestmentCostOrOtherBasis |
| Depreciation | 6198256 | Depreciation |
| Book Value | 23121535 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 16394168 | InvestmentCostOrOtherBasis |
| Depreciation | 8205116 | Depreciation |
| Book Value | 8189052 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 40374869 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (6 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| FEDERAL HOME LOAN BANK STOCK | 5963800 | F |
| MORTGAGE BASED SECURITIES | 170327971 | F |
| BANK CDS | 13045520 | F |
| US GOVERNMENT & FEDERAL AGENCY SECURITIES | 78779865 | F |
| CORPORATE BONDS | 39585430 | F |
| MUTUAL FUNDS | 31538435 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 339241021 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBERS' SHARES AND SAVINGS ACCOUNTS | Description |
| Amount | $1,381,098,794 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1381098794 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 82167627 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | 116148 | OtherRevenues |
| Revenue Not Rptd F990 | 116148 | RevenueNotRptdF990 |
| Revenue Subtotal | 82051479 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 82051479 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 77832216 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 116148 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 116148 | ExpensesNotRptdF990 |
| Expenses Subtotal | 77716068 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 77716068 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (3 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| PART IV, LINE 2B: | CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES PREVIOUSLY SOLD TO FREDDIE MAC OR FANNIE MAE. | |
| RENTAL EXPENSES 116,148. | PART XI, LINE 2D - OTHER ADJUSTMENTS: | |
| RENT EXPENSE 116,148. | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (11 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID SNODGRASS | ||||||||||||||
| CEO AND PRESIDENT | 368805 | 0 | 0 | 0 | 79864 | 0 | 12500 | 0 | 21985 | 0 | 483154 | 0 | 0 | 0 |
| BRIAN MCVEIGH | ||||||||||||||
| SR VP, CORP SVCS/CFO | 213118 | 0 | 10400 | 0 | 9841 | 0 | 11309 | 0 | 21985 | 0 | 266653 | 0 | 0 | 0 |
| CAROL GALIZIA | ||||||||||||||
| SR VP, RETAIL DEL. | 211452 | 0 | 10364 | 0 | 15941 | 0 | 5974 | 0 | 20185 | 0 | 263916 | 0 | 0 | 0 |
| JANE KILE | ||||||||||||||
| SR VP, STRATEGIC SVCS | 191426 | 0 | 9961 | 0 | 9722 | 0 | 10209 | 0 | 7849 | 0 | 229167 | 0 | 0 | 0 |
| RAYNOR ZILLIGTT | ||||||||||||||
| VP, GENERAL COUNCIL | 168612 | 0 | 6532 | 0 | 1583 | 0 | 8690 | 0 | 21985 | 0 | 207402 | 0 | 0 | 0 |
| KEVIN NEUGENT | ||||||||||||||
| VP, INFORMATION TECHNOLOGY | 171856 | 0 | 6600 | 0 | 1614 | 0 | 9018 | 0 | 21985 | 0 | 211073 | 0 | 0 | 0 |
| CHARLES HENSLEY | ||||||||||||||
| VP, LENDING | 164197 | 0 | 6400 | 0 | 1496 | 0 | 8654 | 0 | 7779 | 0 | 188526 | 0 | 0 | 0 |
| SHEILA COLLINS | ||||||||||||||
| VP, RETAIL DELIVERY | 156205 | 0 | 6230 | 0 | 506 | 0 | 7083 | 0 | 17584 | 0 | 187608 | 0 | 0 | 0 |
| KARA STUEWE | ||||||||||||||
| VP, TREASURY | 154645 | 0 | 6230 | 0 | 342 | 0 | 8231 | 0 | 21168 | 0 | 190616 | 0 | 0 | 0 |
| STEPHEN WINNIGER | ||||||||||||||
| FORMER CEO | 111225 | 0 | 0 | 0 | 894 | 0 | 0 | 0 | 396 | 0 | 112515 | 0 | 0 | 0 |
| SUSAN HUGHES | ||||||||||||||
| FORMER OFFICER | 166005 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 166005 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | BOARD MEMBERS ARE ALLOWED TO HAVE THEIR SPOUSE ATTEND A CONFERENCE WITH THEM. A 1099-MISC IS ISSUED FOR EXPENSES INCURRED. CEO WAS PROVIDED TEMPORARY HOUSING UNTIL FAMILY MOVED TO MICHIGAN AND IS INCLUDED AS TAXABLE INCOME ON HIS W-2 IN THE AMOUNT OF $35,836. |
| PART I, LINES 4A-B | PART I, LINES 4A-B: SEVERANCE BASED ON CHANGE-OF-CONTROL AGREEMENT: SUSAN HUGHES - $166,005 CONTRIBUTIONS TO EXECUTIVE SERP PLANS: STEPHEN L. WINNINGER - $75,000 |
Schedule L IRS990ScheduleL
Loan Table LoanTable (2 entries)
| Relationship With OrganizationRelationshipWithOrganization | Purpose Of LoanPurposeOfLoan | Loan From OrganizationLoanFromOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|---|
| DAVID SNODGRASS | |||||||
| PRESIDENT & CEO | EXECUTIVE SERP LOAN | X | $3,928,234 | 3928234 | 0 | 1 | 1 |
| BRIAN MCVEIGH | |||||||
| SENIOR VP OF CORP SVCS | EXECUTIVE SERP LOAN | X | $1,161,006 | 1161006 | 0 | 1 | 1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 5089240 | TotalBalanceDue |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE BYLAWS WERE AMENDED IN 2012 TO CHANGE A MEMBERSHIP REQUIREMENT FOR EMPLOYER GROUPS OR OTHER ORGANIZED GROUPS LOCATED WITHHIN 25 MILES OF A CREDIT UNION OFFICE TO REQUIRE THEM TO SUBMIT A WRITTEN REQUEST FOR SERVICE AND TO GIVE THE COMMISSIONER POWER TO ADD OR REVOKE SUCH GROUPS, TO ADD A COMMERCIAL CREDIT COMMITTEE, AND TO CHANGE THE BOARD SIZE FROM 17 TO 12 MEMBERS. | |
| FORM 990, PART VI, SECTION A, LINE 6 | ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS | |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT THE GOVERNING BODY | |
| FORM 990, PART VI, SECTION A, LINE 7B | ONLY DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY MEMBERS | |
| FORM 990, PART VI, SECTION B, LINE 11 | FORM 990 IS REVIEWED BY VP OF FINANCE, SENIOR VP CORPORATE SERVICES & CFO, AND THE BOARD TREASURER/AUDIT COMMITTEE CHAIR, PRIOR TO FILING THE RETURN. | |
| FORM 990, PART VI, SECTION B, LINE 12C | DIRECTORS ANNUALLY COMPLETE CONFLICT OF INTEREST DOCUMENTS. EMPLOYEES MONITORED THROUGHOUT POLICY COMPLIANCE BY SUPERVISOR. DIRECTORS EXCUSE THEMSELVES FROM VOTING IF THERE IS A CONFLICT. | |
| FORM 990, PART VI, SECTION B, LINE 15 | BOARD EXECUTIVE COMMITTEE APPROVES COMPENSATION FOR CEO. CEO APPROVES COMPENSATION FOR SVPS AND SVPS APPROVE COMPENSATION FOR VPS, WITH REVIEW BY HUMAN RESOURCES. COMPENSATION CONSULTANT PERFORMS COMPETITIVE MARKET SURVEYS (LAST UPDATE WAS IN JULY 2011). ALSO PERFORMANCE EVALUATION COMPLETED BY BOARD EXECUTIVE COMMITTEE FOR CEO AND BY CEO FOR SVPS AND BY SVPS FOR VPS. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN PENSION & POST RETIREMENT HEALTH 4,137,325. EQUITY ACQUIRED IN MERGER 907,582. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C | THERE WERE NO CHANGES TO THE OVERSIGHT OR SELECTION PROCESS DURING THE YEAR. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MEMBERS FINANCIAL SERVICES LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 15800 NORTH HAGGERTY | AddressLine1 |
| City | PLYMOUTH | City |
| State | MI | State |
| ZIP Code | 48170 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364516718 | EIN |
| Primary Activities | INSURANCE AND FINANCIAL SERVICES | PrimaryActivities |
| Legal Domicile State | MI | LegalDomicileState |
| Total Income | 10161 | TotalIncome |
| EOY Assets | 117447 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TRUST CREDIT UNION | BusinessNameLine1 |