2012-08-14T14:01:21-05:00 2011-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE COURT STE 500 AUBURN HILLS MI 48326 990 2011-01-01 381627404 CREDIT UNIONS CHARTERED IN THE OUR CREDIT UNION CRED 2485493838 3070 NORMANDY ROAD ROYAL OAK MI 48073 DEBORAH THOMPSON 2485493838 2012-08-10 1 LYNNE M HUISMANN P00053811 2483757100 2011 2016-02-24 21:20:13Z DEBORAH THOMPSON 3070 NORMANDY ROAD ROYAL OAK MI 48073 55135105 0 1359 X WWW.OURCUONLINE.ORG X 1959 MI WE ARE COMMITTED TO THE FINANCIAL WELL-BEING OF OUR MEMBERS, EMPLOYEES AND LOCAL COMMUNITIES. INDIVIDUALS, BUSINESSES, AND THE COMMUNITY WILL SEE US AS A PARTNER IN HELPING THEM ACHIEVE THEIR FINANCIAL GOALS AND ASPIRATIONS. OUR EMPLOYEES WILL HAVE PRIDE IN THE WORK THEY DO, AND IN TURN WILL FEEL VALUED, REWARDED AND RECOGNIZED FOR THEIR CONTRIBUTION. 7 6 93 7 360358 -3214 0 0 8686997 8394106 2778240 2794319 0 0 11465237 11188425 0 0 0 0 3145073 3439474 0 0 0 8225959 6666652 11371032 10106126 94205 1082299 188808915 204078102 174910198 187899511 13898717 16178591 AS A MEMBER-OWNED FINANCIAL COOPERATIVE, WE WILL UPHOLD THE HIGHEST STANDARDS IN OUR RELATIONSHIPS WITH MEMBERS, EMPLOYEES, AND THE COMMUNITY. WE WILL MAINTAIN EARNINGS AND RESERVES WHICH PROMOTE SOUND GROWTH AND ENCOURAGE MEMBER CONFIDENCE. 0 0 PROMOTED THRIFT TO 21,964 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER RELATED FINANCIAL PRODUCTS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 3322 0 1 93 1 1 1 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 1 1 0 0 1 1 1 1 0 X LISA GNYP 2485493838 3070 NORMANDY ROAD ROYAL OAK MI 48073 TIMOTHY GERLING 2.00 X 0 0 0 MARY BROADDUS 3.00 X 0 0 0 JEREMY WATER 3.00 X X 0 0 0 JOEL DESHANE 2.00 X X 0 0 0 JAMES DRESBACH 2.00 X X 0 0 0 KATHLEEN DEYO 2.00 X 0 0 0 JOSEPH KRIPLI 2.00 X X 0 0 0 THOMAS ZAMBERLAN 40.00 X 160272 0 42576 CHRISTINE DIX 40.00 X 115277 0 8465 LISA GNYP 40.00 X 81219 0 10037 THOMAS BARAN 40.00 X 78776 0 4400 JUDITH HUBBEL 40.00 X 61346 0 5893 JEFFREY GLASER 40.00 X 79300 0 10962 576190 0 82333 2 0 1 0 FISERV EFT PO BOX 60000 SAN FRANCISCO CA 94111 ATM PROCESSING 409072 ADVANTAGE MARKETING 39500 ORCHARD HILL PLACE 155 NOVI MI 48375 MARKETING CONSULTANT 190806 FISERV INC 75 REMITTANCE DRIVE SUITE 6942 CHICAGO IL 60675 CORE SYSTEM 125279 ONLINE RESOURCES PO BOX 630139 BALTIMORE MD 212630139 BILL PAYMENT VENDOR 101779 4 INTEREST ON LOANS 522100 5572209 5572209 FEES AND CHARGES 525990 2821897 2461539 360358 8394106 2290915 2290915 44345900 104184 43838535 108145 507365 -3961 503404 503404 11188425 10324663 360358 503404 663389 2273500 80543 203062 218980 75365 71721 26209 121818 391437 359286 413381 230377 19034 62435 1718844 114376 517669 PROVISION FOR LOAN LOSS 891727 CREDIT CARD AND BILL EX 501502 LOAN SERVICING 350649 IMPAIRMENT LOSS 252835 547987 10106126 2636531 3883990 5854740 5202362 100094273 95111370 6823995 2606071 4372269 4217924 7355360 10617608 63018239 79527087 5477503 5517761 188808915 204078102 1095645 1595678 9622 4992 3000000 2000000 170804931 184298841 174910198 187899511 X 3273619 3273619 0 0 10625098 12904972 13898717 16178591 188808915 204078102 X 1082299 1197575 X 0 1 0 X 0 0 1 837512 837512 4316348 1348354 2967994 1670135 1257717 412418 4217924 MORTGAGE BACKED SECURTIES 231156 F PRIVATELY ISSUED COLLATERALIZED MORTGAGE OBLIGATIONS 2682833 F U.S. AGENCY ISSUED COLLATERALIZED MORTGAGE OBLIGATIONS 70988279 F ASSET BACKED AND OTHER AMORTIZING 5624819 F 79527087 MEMBERS SHARE AND SAVINGS 184298841 184298841 11188425 10106126 1082299 1197575 1197575 2279874 10849750 0 10849750 338675 338675 11188425 9767451 0 9767451 338675 338675 10106126 PART IV, LINE 2B: ESCROW ACCOUNT IS HELD FOR TAXES, INSURANCE, AND MORTGAGE INSURANCE FOR SOME MORTGAGE LOANS. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAINS AND LOSSES -10,500 LOAN SERVICING EXPENSE 89,801 IMPAIRMENT LOSS 252,835 PART XIII, LINE 4B - OTHER ADJUSTMENTS: GAINS AND LOSSES -10,500 LOAN SERVICING EXPENSE 89,801 IMPAIRMENT LOSS 252,835 1 X X X X 0 0 0 THOMAS ZAMBERLAN 150143 0 8692 0 1437 0 34976 0 7600 0 202848 0 0 0 MICHIGAN CORPORATE OFFICE PLUS BOARD MEMBER JOEL DESHANE OWNS COMPANY 40150 PURCHASE OF OFFICE SUPPLIES 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS 21,964 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A CREDIT UNION MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY CEO, EXECUTIVE VICE PRESIDENT AND VICE PRESIDENT OF FINANCE BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 15 CEO'S COMPENSATION IS REVIEWED AND ESTABLISHED BY THE COMPENSATION COMMITTEE (3 INDIVIDUAL BOARD MEMBERS). THEY UTILIZE INDUSTRY DATA (CUES) FOR REVIEW AND DETERMINATION OF COMPENSATION. THE BOARD OF DIRECTORS HAS APPROVED THE COMPENSATION POLICY. THE BOARD OF DIRECTORS APPROVES PAY GRADES. COMPARIBILITY DATA IS USED FOR ALL OTHER STAFF INCLUDING THE EXECUTIVE MANAGEMENT THROUGH COMPEASE TO DETERMINE SALARY GRADES. DEPARTMENTS SUPERVISORS AND MANAGERS REVIEW AND PREPARE APPRAISAL EVALUATIONS. BASED ON THE APPRAISALS THE HUMAN RESOUCES DEPARTMENT PREPARES THE RECOMMENDED PAY RATE CHANGES. FINAL WRITTEN APPROVAL IS GIVEN BY THE CEO. THE PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM IN THE LOBBY AND UPON REQUEST. THE GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,197,575.