GREAT LAKES CREDIT UNION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- GREAT LAKES CREDIT UNION (EIN 36-1163912)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-08-12
- IRS object ID
- 201312249349301571
- 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 | 2013-08-12T14:00:25-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE HORWATH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 70 West Madison Street | AddressLine1 |
| Address Line2 | Suite 700 | AddressLine2 |
| City | Chicago | City |
| State | IL | State |
| ZIP Code | 606024903 | 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 | 361163912 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT LAKES CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | GREA | NameControl |
| Phone | 8475787000 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 Green Bay Road | AddressLine1 |
| City | North Chicago | City |
| State | IL | State |
| ZIP Code | 60064 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KAMIL SAKICI | Name |
| Title | SVP/CFO | Title |
| Date Signed | 2013-07-08 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| PTIN | P01254056 | PTIN |
| Phone | 3128997000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Name Of Principal Officer Business NameOfPrincipalOfficerBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIKKI KAISER | BusinessNameLine1 |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 GREEN BAY ROAD | AddressLine1 |
| City | North Chicago | City |
| State | IL | State |
| ZIP Code | 60064 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 74630035 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.GLCU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1938 | YearFormation |
| State Legal Domicile | IL | StateLegalDomicile |
| Activity Or Mission Description | THE PRIMARY EXEMPT PURPOSE OF GREAT LAKES CREDIT UNION IS TO PROVIDE LOANS, SAVINGS ACCOUNTS, AND OTHER FINANCIAL SERVICES THAT PROMOTE THE FINANCIAL PROSPERITY OF OUR 41,035 MEMBERS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 173 | TotalNbrEmployees |
| Total Nbr Volunteers | 9 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 25309268 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 24406416 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 3453570 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3784693 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 488452 | OtherRevenuePriorYear |
| Other Revenue Current Year | 30261 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 29251290 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28221370 | 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 | 9232869 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 10050583 | 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 | 19035337 | OtherExpensePriorYear |
| Other Expenses Current Year | 17578134 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 28268206 | TotalExpensesPriorYear |
| Total Expenses Current Year | 27628717 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 983084 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 592653 | RevenuesLessExpensesCY |
| Total Assets BOY | 544186190 | TotalAssetsBOY |
| Total Assets EOY | 525732943 | TotalAssetsEOY |
| Total Liabilities BOY | 486912339 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 468484081 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 57273851 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 57248862 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE PRIMARY EXEMPT PURPOSE OF GREAT LAKES CREDIT UNION (GLCU) IS TO PROVIDE LOANS, SAVINGS ACCOUNTS, AND OTHER FINANCIAL SERVICES THAT PROMOTE THE FINANCIAL PROSPERITY OF OUR 41,035 MEMBERS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | LOANS ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS. FOR 2012, GLCU PROVIDED THE FOLLOWING LOANS: - 342 MORTGAGES TOTALING $77,770,690 - 1,496 VEHICLE LOANS TOTALING $27,594,243 - 13,366 CONSUMER LOANS TOTALING $27,933,210 | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ATM/DEBIT CARDS AND CHECKCARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION. CHECKING ACCOUNTS ARE OFFERED TO MEMBERS, SOME WITH NO MONTHLY SERVICE FEE. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | VARIOUS INSURANCE PRODUCTS ARE OFFERED TO MEMBERS FOR SALE. TYPES OF PRODUCTS OFFERED INCLUDE CREDIT LIFE, CREDIT DISABILITY, MECHANICAL BREAKDOWN PROTECTION (MPB) AND FINANCIAL GAP PROTECTION. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | true | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | true | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | true | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 12843 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 173 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAMIL SAKICI | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8475787000 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 GREEN BAY ROAD | AddressLine1 |
| City | North Chicago | City |
| State | IL | State |
| ZIP Code | 60064 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (15 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 |
|---|---|---|---|---|---|---|---|---|
| BERTINE A NIXON | ||||||||
| SECRETARY | 5.00 | X | X | 0 | 0 | 0 | ||
| DANIEL M DOYLE | ||||||||
| 5.00 | X | X | 0 | 0 | 0 | |||
| JAMES FABRIE | ||||||||
| CHAIR | 5.00 | X | X | 0 | 0 | 0 | ||
| R LEE PIEKARZ | ||||||||
| VICE CHAIR | 5.00 | X | X | 0 | 0 | 0 | ||
| SHIRLEY M SOLBERG | ||||||||
| 5.00 | X | X | 0 | 0 | 0 | |||
| STEPHEN PARK | ||||||||
| TREASURER | 5.00 | X | X | 0 | 0 | 0 | ||
| JAMES A RHOADES | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| JAMES E MARCH | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| ROBERT GREEN | ||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |||
| KAMIL SAKICI | ||||||||
| SVP-CFO | 40.00 | X | 224106 | 0 | 30223 | |||
| LORRAINE KOST | ||||||||
| SVP - ADMINISTRATION | 40.00 | X | 162044 | 0 | 18562 | |||
| VIKKI KAISER | ||||||||
| PRESIDENT - CEO | 40.00 | X | 501618 | 0 | 21765 | |||
| KEVIN BOGAC | ||||||||
| SVP - INFORMATION SYSTEMS/OPERATIONS | 40.00 | 169510 | 0 | 1133 | X | |||
| RICH EDWARDS | ||||||||
| SVP - LENDING | 40.00 | 165528 | 0 | 5678 | X | |||
| YVONNE BAILEY | ||||||||
| VP - MARKETING/PLANNING | 40.00 | 129104 | 0 | 4574 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1351910 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 81935 | TotalOtherCompensation |
| Number Individuals GT100 K | 6 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES INC | |||||
| P O BOX 609 | MONETT | MO | 65708 | SOFTWARE | 558703 |
| EFRAIM CARLSON AND SON INC | |||||
| 14052 PETRONELLA DR SUITE 105 | LIBERTYVILLE | IL | 600489512 | GENERAL CONTRACTOR/CONSTRUCTION | 214283 |
| ARCATECH SYSTEMS | |||||
| P O BOX 533176 | CHARLOTTE | NC | 28290 | CASH RECYCLER VENDOR AND MAINT | 176025 |
| THILLENS INC | |||||
| 4242 N ELSTON AVENUE | CHICAGO | IL | 60618 | ATM/ARMORED CAR | 174300 |
| MERIDIAN IT INC | |||||
| P O BOX 33950 | CHICAGO | IL | 60694 | NETWORK SUPPORT | 119230 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| INTEREST ON MEMBER LOANS | 522100 | 18024927 | 18024927 |
| SERVICE FEE INCOME | 522100 | 3292027 | 3292027 |
| ATM/CREDIT CARD SERVICES | 522100 | 2473989 | 2473989 |
| INSURANCE PRODUCT SALES | 522100 | 170018 | 170018 |
| FINANCIAL PLANNING SERVICES | 522100 | 97329 | 97329 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 348126 | TotalRevenueColumn |
| Related Or Exempt Function Income | 348126 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 24406416 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2334663 | TotalRevenueColumn |
| Exclusion | $2,334,663 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 40783 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 10522 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 30261 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 30261 | TotalRevenueColumn |
| Exclusion | $30,261 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 47340968 | Securities |
| Other | 507205 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 46398142 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 942826 | Securities |
| Other | 507205 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1450030 | TotalRevenueColumn |
| Exclusion | $1,450,030 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (3 entries)
| Total Revenue ColumnTotalRevenueColumn |
|---|
| 0 |
| 0 |
| 0 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28221370 | TotalRevenueColumn |
| Related Or Exempt Function Income | 24406416 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $3,814,954 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1400167 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6372400 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 381224 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1299924 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 596867 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 313411 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 223000 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7872 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1518231 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 399304 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 848354 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 616656 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 781487 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 182133 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4452587 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1604596 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 912198 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 3425203 |
| INSURANCE PREM ASSESSMENT | 423848 |
| ARMORED CAR SERVICE | 116951 |
| ATM NETWORK FEES | 222467 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1529836 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27628717 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50722135 | BOY |
| EOY | 36637750 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11991519 | BOY |
| EOY | 6919427 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 331278893 | BOY |
| EOY | 332081331 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 545657 | BOY |
| EOY | 534553 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 29535987 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 13180660 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16897650 | BOY |
| EOY | 16355327 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 120912573 | BOY |
| EOY | 119385016 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1774500 | BOY |
| EOY | 2288851 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 903987 | BOY |
| EOY | 804594 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9159276 | BOY |
| EOY | 10726094 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 544186190 | BOY |
| EOY | 525732943 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4341620 | BOY |
| EOY | 4604186 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33650000 | BOY |
| EOY | 17650000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 448920719 | BOY |
| EOY | 446229895 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 486912339 | BOY |
| EOY | 468484081 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57273851 | BOY |
| EOY | 57248862 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57273851 | BOY |
| EOY | 57248862 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 544186190 | BOY |
| EOY | 525732943 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 592653 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 177223 | ReconciliationUnrealizedInvest |
| Reconcilation Prior Adjustment | -373579 | ReconcilationPriorAdjustment |
| Reconcilation Other Changes | -421286 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | 1500 | PoliticalExpenditures |
| Volunteer Hours | 0 | VolunteerHours |
| Amt Expended For527 Activities | 0 | AmtExpendedFor527Activities |
| Amt Of Internal Funds Contributed | 1500 | AmtOfInternalFundsContributed |
| Total Exmpt Function Expenditures | 1500 | TotalExmptFunctionExpenditures |
| Form1120 Pol Filed | true | Form1120PolFiled |
Sec527 Pol Orgs Sec527PolOrgs
Name Of527 Organization NameOf527Organization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CREDIT UNION POLITICAL ACTION COMMITTEE | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1807 W DIEHL RD 3107 | AddressLine1 |
| City | NAPERVILLE | City |
| State | IL | State |
| ZIP Code | 60566 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363092340 | EIN |
| Amt Pd From Internal Funds | 1500 | AmtPdFromInternalFunds |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Description of political campaign activities | Identifier |
| Return Reference | Schedule C, Part I-A, Line 1 | ReturnReference |
| Explanation | THE ORGANIZATION MAKES POLITICAL EXPENDITURES FOR THE PURPOSE OF SUPPORTING THE CREDIT UNION POLITICAL ACTION COMMITTEE. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | true | AgentTrusteeEtc |
| Beginning Balance | 1278482 | BeginningBalance |
| Additions During Year | 36820668 | AdditionsDuringYear |
| Distributions During Year | 36450350 | DistributionsDuringYear |
| Ending Balance | 1648799 | EndingBalance |
| Included On FS | false | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 554823 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 4814768 | OtherCostOrOtherBasis |
| Book Value | 5369591 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 13950391 | OtherCostOrOtherBasis |
| Depreciation | 5380288 | Depreciation |
| Book Value | 8570103 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 63759 | OtherCostOrOtherBasis |
| Depreciation | 40841 | Depreciation |
| Book Value | 22918 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 7356958 | OtherCostOrOtherBasis |
| Depreciation | 5312171 | Depreciation |
| Book Value | 2044787 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2795288 | OtherCostOrOtherBasis |
| Depreciation | 2447360 | Depreciation |
| Book Value | 347928 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 16355327 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MEMBERS' SHARES | Description |
| Amount | $446,229,895 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 446229895 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 27836423 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 177223 | NetUnrealizedGainsInvestments |
| Other Revenues | -562170 | OtherRevenues |
| Revenue Not Rptd F990 | -384947 | RevenueNotRptdF990 |
| Revenue Subtotal | 28221370 | RevenueSubtotal |
| Other Revenues Not Included | 0 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 28221370 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 27639239 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 10522 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 10522 | ExpensesNotRptdF990 |
| Expenses Subtotal | 27628717 | ExpensesSubtotal |
| Other Expenses Not Included | 0 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 27628717 | TotalExpensesPerForm990 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (5 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KEVIN BOGAC | ||||||||||||||
| SVP - INFORMATION SYSTEMS/OPERATIONS | 143004 | 0 | 11000 | 0 | 15506 | 0 | 0 | 0 | 1133 | 0 | 170643 | 0 | 0 | 0 |
| RICH EDWARDS | ||||||||||||||
| SVP - LENDING | 135490 | 0 | 12000 | 0 | 18038 | 0 | 4093 | 0 | 1585 | 0 | 171206 | 0 | 0 | 0 |
| LORRAINE KOST | ||||||||||||||
| SVP - ADMINISTRATION | 129805 | 0 | 13500 | 0 | 18739 | 0 | 4139 | 0 | 14423 | 0 | 180606 | 0 | 0 | 0 |
| KAMIL SAKICI | ||||||||||||||
| SVP-CFO | 181142 | 0 | 21500 | 0 | 21464 | 0 | 5821 | 0 | 24402 | 0 | 254329 | 0 | 0 | 0 |
| VIKKI KAISER | ||||||||||||||
| PRESIDENT - CEO | 403617 | 0 | 67500 | 0 | 30501 | 0 | 6250 | 0 | 15515 | 0 | 523383 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Travel for companions | Schedule J, Part I, Line 1a | GREAT LAKES CREDIT UNION ALLOWS A COMPANION TO JOIN EACH DIRECTOR OR SENIOR MANAGEMENT MEMBER ON ONE BUSINESS TRAVEL A YEAR. THE COMPANIONS ARE EXPECTED TO PARTICIPATE IN THE NETWORKING EVENTS AND REPRESENT GLCU. THE TRAVEL EXPENSES ARE CURRENTLY NOT TREATED AS TAXABLE COMPENSATION. |
| Supplemental nonqualified retirement plan | Schedule J, Part I, Line 4b | THE ORGANIZATION HAS A 457(F) PLAN FOR ITS CEO, VIKKI KAISER. THERE WAS NO AMOUNT PAID OUT TO THE CEO DURING THE YEAR. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Classes of members or stockholders | Form 990, Part VI, Section A, Line 6 | ALL MEMBERS OF GREAT LAKES CREDIT UNION ARE GIVEN ONE VOTE IN ELECTIONS WITHOUT PREFERENCE TO THE AMOUNT OF FUNDS THEY HAVE ON DEPOSIT WITH THE CREDIT UNION. |
| Members or stockholders electing members of governing body | Form 990, Part VI, Section A, Line 7a | GREAT LAKES CREDIT UNION IS A MEMBER OWNED COOPERATIVE BUSINESS ORGANIZATION, GOVERNED BY AN NINE-MEMBER BOARD OF DIRECTORS. THE BOARD IS COMPRISED OF ACTIVE MEMBERS OF THE CREDIT UNION WHO ARE SELECTED BY THE MEMBERSHIP THROUGH A DEMOCRATIC ELECTION PROCESS. |
| Review of form 990 by governing body | Form 990, Part VI, Section B, Line 11b | THE ORGANIZATION'S MANAGEMENT REVIEWS THE FORM 990 IN DETAIL WITH THEIR PAID TAX PREPARERS. SUBSEQUENT TO THIS REVIEW, A FULL COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY DURING THE ORGANIZATION'S BOARD MEETING PRIOR TO FILING WITH THE IRS. ANY BOARD MEMBERS NOT PRESENT AT THIS BOARD MEETING ARE SENT A PAPER OR ELECTRONIC COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS. |
| Conflict of interest policy | Form 990, Part VI, Section B, Line 12c | THE ORGANIZATION'S OFFICERS, DIRECTORS, TRUSTEES & KEY EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTERESTS THEY MAY HAVE WITH THE ORGANIZATION. THE CFO REVIEWS EACH POLICY STATEMENT SIGNED BY THESE INDIVIDUALS TO DETERMINE IF ANY CONFLICTS EXIST AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF A CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN FROM ANY RELATED DISCUSSION, VOTE OR SIMILAR ACTION ON THE MATTER. |
| PROCESS FOR DETERMINING COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL | FORM 990, PART VI, LINE 15A | ALTHOUGH THE BOARD OF DIRECTORS REVIEW THE CEO'S COMPENSATION ANNUALLY. ONLY ON A PERIODIC BASIS IS AN INDEPENDENT OUTSIDE FIRM (LAST TIME IN 2011) OBTAINED TO PROVIDE INDUSTRY COMPARISONS. THIS IS THE REASON THIS QUESTION IS ANSWERED 'NO' FOR THE CURRENT YEAR. |
| PROCESS USED TO ESTABLISH COMPENSATION FOR OTHER OFFICERS/KEY EMPLOYEES | FORM 990, PART VI, LINE 15B | THE ORGANIZATION USES THE LATEST CUES EMPLOYEE SALARY SURVEY TO PROVIDE A GENERAL SALARY RANGE FOR COMPENSATION FOR ITS OTHER OFFICERS. ADDITIONALLY, THE ORGANIZATION TAKES INTO CONSIDERATION THE OTHER OFFICERS' OVERALL EXPERIENCE, INDUSTRY EXPERIENCE, RELEVANT EDUCATION AND SPECIFIC JOB RESPONSIBILITIES. BONUSES FOR THE ORGANIZATION'S OTHER OFFICERS ARE BASED ON REACHING CERTAIN OVERALL CREDIT UNION PERFORMANCE CRITERIA. THE ORGANIZATION'S HR DEPARTMENT UTILIZES ITS SALARY RANGE, WHICH IS BASED ON INDUSTRY-SPECIFIC AND LOCAL EMPLOYER SALARY SURVEY DATA, TO DETERMINE COMPENSATION FOR ITS KEY EMPLOYEES. THE INDIVIDUAL'S RELEVANT EDUCATION, OVERALL WORK EXPERIENCE, INDUSTRY EXPERIENCE AND SPECIFIC JOB RESPONSIBILITIES ARE ALSO TAKEN INTO CONSIDERATION, AS WELL AS THEIR CURRENT RATE OF PAY AND INTERNAL EQUITY CONSIDERATIONS. KEY EMPLOYEES' INCENTIVES ARE DISCRETIONARY BASED ON PERFORMANCE AND MUST BE APPROVED BY THE CEO GROUP. COMPENSATION OF THE ORGANIZATION'S OTHER OFFICERS IS REVIEWED AND APPROVED BY THE PRESIDENT/CEO. ALL SALARY DETERMINATIONS FOR THE ORGANIZATION'S KEY EMPLOYEES ARE REVIEWED AND APPROVED BY THE SVP-ADMINISTRATION. THE PROCESS LAST TOOK PLACE IN 2012. |
| Governing documents, conflict of interest policy and financial statements available to the public | Form 990, Part VI, Section C, Line 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| Other changes in net assets or fund balances | Form 990 , Part XI, Line 9 | RECLASSIFICATION ADJUSTMENT ON DEFINED BENEFIT PENSION PLAN - 370134; RECLASSIFICATION ADJUSTMENT FOR LOSSES (GAINS) INCLUDED - -942826; CHANGE IN EQUITY ACQUIRED FROM MERGERS - 151406; |
| PRIOR PERIOD ADJUSTMENT | FORM 990, PART XI, LINE 8 | SEVERAL YEARS AGO, THE CREDIT UNION INVESTED $1,000,000 IN A CREDIT UNION SERVICE ORGANIZATION (CUSO) FOR A 2% INTEREST. THE CUSO WAS A LIMITED LIABILITY COMPANY. ACCORDINGLY, THE CREDIT UNION ACCOUNTED FOR THE INVESTMENT UNDER THE COST METHOD. ANNUALLY, THE CUSO PAID DISTRIBUTIONS TO ITS OWNERS, PARTIALLY BASED ON PERCENTAGE OF OWNERSHIP AND PARTIALLY BASED ON TRANSACTION ACTIVITY EACH OWNER CONDUCTED WITH THE CUSO. IN NOVEMBER 2012, THE CREDIT UNION PURCHASED AN ADDITIONAL 23.3% OF THE CUSO FOR $1,240,000 RESULTING IN AN OVERALL OWNERSHIP PERCENTAGE OF 25.3%. AT THIS LEVEL OF OWNERSHIP, THE ACCOUNTING GUIDANCE REQUIRES THE USE OF THE EQUITY METHOD OF ACCOUNTING AND REQUIRES A RETROACTIVE ADJUSTMENT TO PRIOR PERIODS TO REFLECT AS IF THE EQUITY METHOD OF ACCOUNTING HAD ALWAYS BEEN FOLLOWED. AS A RESULT OF THE ABOVE, THE BEGINNING UNDIVIDED EARNINGS AND THE INVESTMENT IN CUSO WERE DECREASED BY $338,669 AS OF JANUARY 1, 2011. FOR 2011, THE INVESTMENT IN CUSO AND NET INCOME WERE REDUCED BY $34,910. FOR 2012, THE INVESTMENT IN CUSO HAS BEEN REPORTED ON THE EQUITY METHOD OF ACCOUNTING. AT DECEMBER 31, 2012, THE CARRYING VALUE OF THE INVESTMENT IN CUSO IS $1,772,000. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GREAT LAKES CREDIT SERVICE ORGANIZATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 GREEN BAY ROAD | AddressLine1 |
| City | NORTH CHICAGO | City |
| State | IL | State |
| ZIP Code | 60064 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 363429771 | EIN |
| Primary Activities | CREDIT UNION | PrimaryActivities |
| Legal Domicile State | IL | LegalDomicileState |
| Total Income | 0 | TotalIncome |
| EOY Assets | 97 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLCU | BusinessNameLine1 |