Civic Intelligence

Great Lakes Credit Union Inc

EIN 34-6523886 • 501(c)14 • Sylvania, OH

Profile

Great Lakes Credit Union's mission is to serve the member owners in a competitive and convenient manner, with cutting edge products and services, while maintaining concern for the financial well being of the membership.

6600 Sylanvia Avenue Suite 6DSylvania, OH 43560

www.glcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

96th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)14 • <$500k nonprofits • Source year 2019

Net Margin

48th percentile

-75%

Higher net margin than 48% of similar nonprofits.

501(c)14 • <$500k nonprofits • Source year 2019

Top Officer Pay

42nd percentile

$12,928

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 19.0% of source-year revenue.

501(c)14 • <$500k nonprofits • Source year 2019

Asset Growth

95th percentile

-100%

Faster asset growth than 95% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

9th percentile

-94%

Faster revenue growth than 9% of similar nonprofits.

501(c)14 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$0

Down $22,588,393 (-100%) from 2018

Liabilities

Down

$0

Down $20,985,424 (-100%) from 2018

Net Assets

Down

$0

Down $1,602,969 (-100%) from 2018

Revenue

Down

$67,933

Down $1,129,578 (-94%) from 2018

Expenses

Down

$119,097

Down $1,469,081 (-93%) from 2018

Net Income

Up

-$51,164

Up $339,503 (+87%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $27,239,478Liabilities 2010: $24,450,367Net Assets 2010: $2,789,1112010Assets 2011: $26,236,200Liabilities 2011: $23,199,746Net Assets 2011: $3,036,4542011Assets 2012: $27,243,387Liabilities 2012: $24,088,814Net Assets 2012: $3,154,5732012Assets 2013: $25,543,168Liabilities 2013: $22,719,431Net Assets 2013: $2,823,7372013Assets 2014: $27,043,184Liabilities 2014: $24,043,017Net Assets 2014: $3,000,1672014Assets 2015: $25,506,682Liabilities 2015: $23,079,823Net Assets 2015: $2,426,8592015Assets 2016: $27,609,935Liabilities 2016: $25,266,847Net Assets 2016: $2,343,0882016Assets 2017: $28,313,202Liabilities 2017: $26,259,872Net Assets 2017: $2,053,3302017Assets 2018: $22,588,393Liabilities 2018: $20,985,424Net Assets 2018: $1,602,9692018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,812,7842010Expenses 2011: $1,626,2742011Expenses 2012: $1,558,9942012Revenue 2013: $1,639,827Expenses 2013: $1,562,529Net Income 2013: $77,2982013Revenue 2014: $1,587,566Expenses 2014: $1,554,228Net Income 2014: $33,3382014Revenue 2015: $1,621,600Expenses 2015: $2,202,685Net Income 2015: -$581,0852015Revenue 2016: $1,491,274Expenses 2016: $1,486,641Net Income 2016: $4,6332016Revenue 2017: $1,477,133Expenses 2017: $1,821,407Net Income 2017: -$344,2742017Revenue 2018: $1,197,511Expenses 2018: $1,588,178Net Income 2018: -$390,6672018Revenue 2019: $67,933Expenses 2019: $119,097Net Income 2019: -$51,1642019

Highlighted filing

2019

Revenue$67,933
Expenses$119,097
Net Income-$51,164

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 12, 2020
Return Version
2019v5.0
Gross Receipts
$67,933
Mission and Program Overview

Mission

Great Lakes Credit Union's mission is to serve the member owners in a competitive and convenient manner, with cutting edge products and services, while maintaining concern for the financial well being of the membership.

Great Lakes Credit Union, Inc. is a financial institution cooperative organized to provide loan and deposit products and services for its member owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$12,458,553$0▼ $12,458,553
Investments Program Related$7,564,323$0▼ $7,564,323
Savings and Temporary Cash Investments$1,743,134$0▼ $1,743,134
Rtn Earn Endowment Incm Other Fnds$1,602,969$0▼ $1,602,969
Cash and Non-Interest-Bearing Accounts$274,706$0▼ $274,706
Prepaid Expenses and Deferred Charges$108,143$0▼ $108,143
Land, Buildings, and Equipment, Net$44,834--
Accounts Receivable$1,340$0▼ $1,340
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$22,588,393$0▼ $22,588,393
Other Assets Total$393,360$0▼ $393,360
Liabilities
Other Liabilities$20,902,161--
Accounts Payable and Accrued Expenses$83,263$0▼ $83,263
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$20,985,424$0▼ $20,985,424
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,602,969$0▼ $1,602,969
Total Liabilities and Net Assets / Fund Balance$22,588,393$0▼ $22,588,393
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David SeegerSecretary of Board, Chief Executive OfficerFT$12,578$350$12,928

Board Members and Trustees

NameTitle
Robert LarchChairperson of Board
John BenyaDirector
Frank BrahierTreasurer of Board
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$54,042
Investment Income
$13,891
Other Revenue
$0
Change in Net Assets
$-51,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,993
Salaries, Compensation, and Employee Benefits$36,104
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$31,549$1,661$0$33,210
Other Salaries and Wages$12,036$8,086$0$20,122
Current Officers, Directors, Trustees, and Key Employees$0$12,578$0$12,578
Occupancy$10,630$559$0$11,189
Information Technology$9,824$0$0$9,824
Other Expenses$0$3,898$0$3,898
Payroll Taxes$819$1,581$0$2,400
Interest$1,753$0$0$1,753
Fees for Services Accounting$0$1,200$0$1,200
Pension Plan Contributions$0$617$0$617
Other Employee Benefits$31$356$0$387
All Other Expenses$159$0$0$159
Total Functional Expenses$88,561$30,536$0$119,097
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

All credit unions by charter are member owned.

Form 990, Part VI, Section A, Line 7A

All of the governing body is elected by the membership.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by management and the Board of Directors prior to submission.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is reviewed by the employees and Board of Directors annually.

Form 990, Part VI, Section B, Line 15

Compensation of key employees is approved by the Board of Directors. Independent compensation surveys are utilized as a tool in setting compensation levels.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Great Lakes Credit Union Inc
EIN
34-6523886
Phone
4192465911
Address
6600 Sylanvia Avenue Suite 6D, Sylvania, OH 43560

Signing Officer

Name
Luke Wunderlin
Title
Financial Services Officer
Phone
4192465911
Signed
2020-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
3
Employees
6
Volunteers
3

Preparer

Firm
Schmidt & Associates
Address
P O Box 2588, Columbus, OH 43216
Preparer
Melissa Schmidt
Phone
6145291640
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Great Lakes Credit Union, Inc. ceased operations as a result of a merger with Superior Credit Union, Inc. as of January 31, 2019.

Raw XML AppendixShowing 400 of 544 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/ProgramServicesAmt111554
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/TotalAmt010206
IRS990/OtherExpensesGrp/TotalAmt111554
IRS990/OtherExpensesGrp/TotalAmt23898
IRS990/OtherLiabilitiesGrp/BOYAmt020902161
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt08086
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt012036
IRS990/OtherSalariesAndWagesGrp/TotalAmt020122
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt012458553
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01581
IRS990/PayrollTaxesGrp/ProgramServicesAmt0819
IRS990/PayrollTaxesGrp/TotalAmt02400
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0617
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0617
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0108143
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Superior Credit Union Inc
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522130
IRS990/ProgramServiceRevenueGrp/BusinessCd1522130
IRS990/ProgramServiceRevenueGrp/BusinessCd2522130
IRS990/ProgramServiceRevenueGrp/Desc0Interest on loans to members
IRS990/ProgramServiceRevenueGrp/Desc1Fees to members
IRS990/ProgramServiceRevenueGrp/Desc2ATM surcharges to nonmembers
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt027731
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt126192
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt027731
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt126192
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2119
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2119
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0167767
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01017466
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01029744
IRS990/PYRevenuesLessExpensesAmt0-390667
IRS990/PYSalariesCompEmpBnftPaidAmt0570712
IRS990/PYTotalExpensesAmt01588178
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01197511
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-51164
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt067814
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01602969
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01743134
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Exempt - credit union
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt01
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash and short term investments
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Loans to members
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Equipment
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Other Assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Superior Credit Union Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Superior Credit Union Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Superior Credit Union Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt3Superior Credit Union Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02019-01-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12019-01-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22019-01-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32019-01-31

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