Civic Intelligence

People Driven Credit Union

990 • Fiscal year 2018 • EIN 38-0478780

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 12, 2019

Organization ProfileWWW.PEOPLEDRIVENCU.ORG

View Organization Page

24333 Lahser RoadSouthfield, MI 48033

(248) 263-4100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

75th percentile

0.91x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

17.38x

Higher debt load relative to revenue than 57% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Net Margin

30th percentile

11%

Higher net margin than 30% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

54th percentile

$416,904

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2018

Asset Growth

27th percentile

1.7%

Faster asset growth than 27% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

17th percentile

5.0%

Faster revenue growth than 17% of similar nonprofits.

2018 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$260,418,881

Up $4,365,444 (+1.7%) from 2017

Net Assets

Up

$24,322,340

Up $1,745,771 (+7.7%) from 2017

Liabilities

Up

$236,096,541

Up $2,619,673 (+1.1%) from 2017

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin30th percentile

Revenue

Up

$13,586,986

Up $652,489 (+5.0%) from 2017

Expenses

Up

$12,094,124

Up $62,471 (+0.5%) from 2017

Net Income

Up

$1,492,862

Up $590,018 (+65%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $173,002,156Liabilities 2010: $157,960,115Net Assets 2010: $15,042,0412010Assets 2011: $176,949,190Liabilities 2011: $162,670,729Net Assets 2011: $14,278,4612011Assets 2012: $180,721,331Liabilities 2012: $166,813,126Net Assets 2012: $13,908,2052012Assets 2013: $183,907,993Liabilities 2013: $170,123,726Net Assets 2013: $13,784,2672013Assets 2014: $247,887,214Liabilities 2014: $226,013,031Net Assets 2014: $21,874,1832014Assets 2015: $250,327,862Liabilities 2015: $228,431,098Net Assets 2015: $21,896,7642015Assets 2016: $249,447,385Liabilities 2016: $227,388,031Net Assets 2016: $22,059,3542016Assets 2017: $256,053,437Liabilities 2017: $233,476,868Net Assets 2017: $22,576,5692017Assets 2018: $260,418,881Liabilities 2018: $236,096,541Net Assets 2018: $24,322,3402018Assets 2019: $272,103,137Liabilities 2019: $245,166,283Net Assets 2019: $26,936,8542019Assets 2020: $321,328,525Liabilities 2020: $292,485,341Net Assets 2020: $28,843,1842020Assets 2021: $342,686,404Liabilities 2021: $313,542,124Net Assets 2021: $29,144,2802021Assets 2022: $350,695,772Liabilities 2022: $330,722,050Net Assets 2022: $19,973,7222022Assets 2023: $456,890,223Liabilities 2023: $427,304,480Net Assets 2023: $29,585,7432023Assets 2024: $470,762,151Liabilities 2024: $437,019,037Net Assets 2024: $33,743,1142024

Highlighted filing

2018

Assets$260,418,881
Liabilities$236,096,541
Net Assets$24,322,340
Open 2018 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0Expenses 2010: $14,274,4182010Expenses 2011: $12,044,3812011Expenses 2012: $10,679,3342012Revenue 2013: $10,256,554Expenses 2013: $9,656,705Net Income 2013: $599,8492013Revenue 2014: $12,039,454Expenses 2014: $11,606,137Net Income 2014: $433,3172014Revenue 2015: $12,405,759Expenses 2015: $11,929,491Net Income 2015: $476,2682015Revenue 2016: $12,892,710Expenses 2016: $12,350,477Net Income 2016: $542,2332016Revenue 2017: $12,934,497Expenses 2017: $12,031,653Net Income 2017: $902,8442017Revenue 2018: $13,586,986Expenses 2018: $12,094,124Net Income 2018: $1,492,8622018Revenue 2019: $14,465,914Expenses 2019: $12,662,756Net Income 2019: $1,803,1582019Revenue 2020: $13,184,651Expenses 2020: $11,806,652Net Income 2020: $1,377,9992020Revenue 2021: $13,451,115Expenses 2021: $11,585,503Net Income 2021: $1,865,6122021Revenue 2022: $15,327,663Expenses 2022: $11,722,935Net Income 2022: $3,604,7282022Revenue 2023: $29,393,305Expenses 2023: $23,093,842Net Income 2023: $6,299,4632023Revenue 2024: $30,146,660Expenses 2024: $26,574,821Net Income 2024: $3,571,8392024

Highlighted filing

2018

Revenue$13,586,986
Expenses$12,094,124
Net Income$1,492,862
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 12, 2019
Return Version
2018v3.1
Gross Receipts
$13,586,986
Mission and Program Overview

Mission

The mission of people driven credit union is to promote the financial well-being of the membership by fostering thrift and encouraging the prudent use of credit. This is accomplished by providing convenient, competitively priced, quality financial services in a work environment that provides a challenging and rewarding career for employees and encourages volunteer member participation.

The credit union is a member owned, full service financial organization committed to providing financial services and cost savings thereby helping our members achieve financial success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$156,382,501$166,812,531▲ $10,430,030
Investments in Publicly Traded Securities$49,954,003$38,866,945▼ $11,087,058
Rtn Earn Endowment Incm Other Fnds$22,576,569$24,322,340▲ $1,745,771
Savings and Temporary Cash Investments$14,754,053$19,360,081▲ $4,606,028
Land, Buildings, and Equipment, Net$6,413,699$9,999,874▲ $3,586,175
Cash and Non-Interest-Bearing Accounts$5,227,030$8,851,538▲ $3,624,508
Investments Other Securities$7,255,139$4,062,494▼ $3,192,645
Prepaid Expenses and Deferred Charges$467,036$943,544▲ $476,508
Intangible Assets$611,216$517,183▼ $94,033
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$256,053,437$260,418,881▲ $4,365,444
Other Assets Total$14,988,760$11,004,691▼ $3,984,069
Liabilities
Other Liabilities$230,077,115$233,396,964▲ $3,319,849
Accounts Payable and Accrued Expenses$3,399,753$2,699,577▼ $700,176
Total Liabilities$233,476,868$236,096,541▲ $2,619,673
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,576,569$24,322,340▲ $1,745,771
Total Liabilities and Net Assets / Fund Balance$256,053,437$260,418,881▲ $4,365,444

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,118,717$1,982,531$10,101,248
Land$1,368,977-$1,368,977
Equipment$512,180$778,555$1,290,735
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Renee D DemarcoPresident/CEOFT$269,857$147,047$416,904
Margaret LambSVP/CFOFT$157,596$80,229$237,825
S Maxwell SmithCLOFT$109,365$36,665$146,030
Emily RobertsCOOFT$105,735$18,346$124,081

Board Members and Trustees

NameTitle
Claudia HunterBoard Chair
Mark UrbaniakVice-chair
Anita P DouglasBoard Member
Dennis W ParadowskiBoard Member
Kyle KoepfBoard Member
Michelle RhodesBoard Member
Ronnie WilliamsBoard Member
Carol DominoBoard Secretary
Sue WilsonBoard Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Harmon Management LLCContractor On Branches417 COPPERSMITH DRIVE, Mason, MI 48854$2,132,228
Member Driven TechnologiesTechnology Solution30230 ORCHARD LAKE RD, Farmington Hills, MI 48334$719,026
DieboldAtm Services5995 MAYFAIR RD, North Canton, OH 44720$194,204
Kasasa LtdChecking Account ProviderPO BOX 527, Lubbock, TX 79408$157,773
Comcast BusinessNetwork ProviderPO BOX 37601, Philadelphia, PA 19100-0601$104,235
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,925,506
Investment Income
$1,322,790
Other Revenue
$338,690
Change in Net Assets
$1,492,862

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,586,986
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$13,586,986
Total Revenue per Form 990
$13,586,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,574,074
Salaries, Compensation, and Employee Benefits$5,520,050
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,560,210
Occupancy---$719,852
Current Officers, Directors, Trustees, and Key Employees---$654,729
Other Employee Benefits---$537,412
Pension Plan Contributions---$399,529
Other Expenses---$394,409
All Other Expenses---$383,698
Payroll Taxes---$368,170
Advertising---$215,246
Fees for Services Other---$117,305
Travel---$78,814
Fees for Services Accounting---$58,740
Fees for Services Legal---$33,460
Total Functional Expenses$0$0$0$12,094,124

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,094,124
Total Expenses per Audited Statements$12,094,124
Total Expenses per Form 990$12,094,124
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share Accounts$233,396,964
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Every client that has an account with our credit union is also a member.”

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

“Members elect members of the governing body each year at the annual meeting.”

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

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

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

“Form 990 will not be provided to the organization's governing body before it is filed. A review is conducted by the cfo prior to submission to the irs.”

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

“Officials are required to sign annual certification of compliance with policy.”

Form 990, Part VI, Section B, Line 15

“Compease salary survey along with each employee's job performance review is used to determine wage increases for non-union staff. Union staff compensation is governed by the collective bargaining agreement.”

Form 990, Part VI, Section C, Line 19

“The credit union's governing documents and conflict of interest policy are not made available to the public. The credit union's financial statements are posted in the lobby of the credit union each month in accordance with our bylaws.”

Filing and Contact Details

Filer

Filer Name
People Driven Credit Union
EIN
38-0478780
Phone
2482634100
Address
24333 LAHSER ROAD, SOUTHFIELD, MI 48033

Signing Officer

Name
Margaret Lamb
Title
CFO
Phone
2482634102
Signed
2019-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Renee Demarco
Formed
1928
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
8
Employees
102
Volunteers
8

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Jack C Tracy CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“MISCELLANEOUS 383,698.”

FORM 990, PART XI, LINE 9:

“Changes in assumptions on postretirement benefit obligation 339,400.”

FORM 990, PART XII, LINE 2C:

“The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from previous years.”

FORM 990, PART XII, LINE 2B:

“Audited financial statements are done on a fiscal year end and tax reporting is required on a calendar year end.”

Financial Statement Notes

PART X, LINE 2:

“The credit union is exempt, by statute, from federal and state income taxes on income related to the exempt purpose of the credit union. The credit union is a state-chartered credit union described in internal revenue code ("irc") section 501(c)(14). As such, the credit union is exempt from federal taxation of income derived from the performance of activities that are in furtherance of its exempt purposes. However, irc section 511 imposes a tax on the unrelated business income (as defined in section 512) derived by state-chartered credit unions. Many states have similar laws. The specific application of section 512 to the various activities conducted by state-chartered credit unions has been an issue for many years. In 2007, the internal revenue service ("irs") issued a series of technical advice memoranda ("tam") to a number of state-chartered credit unions located throughout the country. In these tams, the irs ruled certain products and services to be subject to taxation as unrelated business income. In light of the tams, the credit union has assessed its activities and any potential federal or state income tax liability. In the opinion of management, any liability arising from federal or state taxation of activities deemed to be unrelated to its exempt purpose is not expected to have a material effect on the credit union's financial position or results of operations. The credit union's open audit period is for the four year period ended december 31, 2018 (2015-2018).”

Raw XML AppendixShowing 400 of 501 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/ActivityOrMissionDesc0THE CREDIT UNION IS A MEMBER OWNED, FULL SERVICE FINANCIAL ORGANIZATION COMMITTED TO PROVIDING FINANCIAL SERVICES AND COST SAVINGS THEREBY HELPING OUR MEMBERS ACHIEVE FINANCIAL SUCCESS.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9169096
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10305081
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11109365
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12105735
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt9SVP/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11CLO
IRS990/Form990PartVIISectionAGrp/TitleTxt12COO
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01928
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt013586986
IRS990/GroupExemptionNum01359
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/IntangibleAssetsGrp/BOYAmt0611216
IRS990/IntangibleAssetsGrp/EOYAmt0517183
IRS990/InvestmentIncomeGrp/ExclusionAmt01322790
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01322790
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt07255139
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt04062494
IRS990/InvestmentsPubTradedSecGrp/BOYAmt049954003
IRS990/InvestmentsPubTradedSecGrp/EOYAmt038866945
IRS990/IRPDocumentCnt03041
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02761086
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06413699
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09999874
IRS990/LandBldgEquipCostOrOtherBssAmt012760960
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF PEOPLE DRIVEN CREDIT UNION IS TO PROMOTE THE FINANCIAL WELL-BEING OF THE MEMBERSHIP BY FOSTERING THRIFT AND ENCOURAGING THE PRUDENT USE OF CREDIT. THIS IS ACCOMPLISHED BY PROVIDING CONVENIENT, COMPETITIVELY PRICED, QUALITY FINANCIAL SERVICES IN A WORK ENVIRONMENT THAT PROVIDES A CHALLENGING AND REWARDING CAREER FOR EMPLOYEES AND ENCOURAGES VOLUNTEER MEMBER PARTICIPATION.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt022576569
IRS990/NetAssetsOrFundBalancesEOYAmt024322340
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-86491
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0719852
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt014988760
IRS990/OtherAssetsTotalGrp/EOYAmt011004691
IRS990/OtherChangesInNetAssetsAmt0339400
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0537412
IRS990/OtherExpensesGrp/Desc0OFFICE OPERATIONS
IRS990/OtherExpensesGrp/Desc1MEMBER SERVICES
IRS990/OtherExpensesGrp/Desc2PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc3LOAN SERVICING
IRS990/OtherExpensesGrp/TotalAmt02782792
IRS990/OtherExpensesGrp/TotalAmt11007449
IRS990/OtherExpensesGrp/TotalAmt2782309
IRS990/OtherExpensesGrp/TotalAmt3394409
IRS990/OtherLiabilitiesGrp/BOYAmt0230077115
IRS990/OtherLiabilitiesGrp/EOYAmt0233396964
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1525990
IRS990/OtherRevenueMiscGrp/Desc0INSURANCE SALES
IRS990/OtherRevenueMiscGrp/Desc1NON MEMBER ATMS
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0240842
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt197848
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0240842
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt197848
IRS990/OtherRevenueTotalAmt0338690
IRS990/OtherSalariesAndWagesGrp/TotalAmt03560210
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0156382501
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0166812531
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0368170
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0399529
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0467036
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0943544
IRS990/PrincipalOfficerNm0RENEE DEMARCO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07769428
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14156078
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07769428
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14156078
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDED 5,350 LOANS INCLUDING VEHICLE, OVERDRAFT PROTECTION, MORTGAGE, HOME EQUITY, SIGNATURE, CREDIT CARD, INDIRECT, BUSINESS AND RECREATIONAL VEHICLE LOANS.
IRS990/ProgSrvcAccomActy3Grp/Desc0PROVIDE AUTOMATED TELLER MACHINES (ATM), DEBIT CARDS, MONEY ORDERS, BILL PAYMENT, ONLINE BANKING, FINANCIAL COUNSELING AND EDUCATION, OVERDRAFT/COURTESY PAY, AND VARIOUS INSURANCE PROGRAMS.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01153164
IRS990/PYOtherExpensesAmt06545628
IRS990/PYOtherRevenueAmt0328237
IRS990/PYProgramServiceRevenueAmt011453096
IRS990/PYRevenuesLessExpensesAmt0902844
IRS990/PYSalariesCompEmpBnftPaidAmt05486025
IRS990/PYTotalExpensesAmt012031653
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt012934497
IRS990/ReconcilationRevenueExpnssAmt01492862
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt022576569
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt024322340
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014754053
IRS990/SavingsAndTempCashInvstGrp/EOYAmt019360081
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08118717
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01982531
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010101248
IRS990ScheduleD/EquipmentGrp/BookValueAmt0512180
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0778555
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01290735
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt012094124
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01368977
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01368977
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0233396964
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARE ACCOUNTS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt013586986
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION DESCRIBED IN INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES THAT ARE IN FURTHERANCE OF ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (AS DEFINED IN SECTION 512) DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS. THE SPECIFIC APPLICATION OF SECTION 512 TO THE VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS HAS BEEN AN ISSUE FOR MANY YEARS. IN 2007, THE INTERNAL REVENUE SERVICE ("IRS") ISSUED A SERIES OF TECHNICAL ADVICE MEMORANDA ("TAM") TO A NUMBER OF STATE-CHARTERED CREDIT UNIONS LOCATED THROUGHOUT THE COUNTRY. IN THESE TAMS, THE IRS RULED CERTAIN PRODUCTS AND SERVICES TO BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN LIGHT OF THE TAMS, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY. IN THE OPINION OF MANAGEMENT, ANY LIABILITY ARISING FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S OPEN AUDIT PERIOD IS FOR THE FOUR YEAR PERIOD ENDED DECEMBER 31, 2018 (2015-2018).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09999874
IRS990ScheduleD/TotalExpensesPerForm990Amt012094124
IRS990ScheduleD/TotalLiabilityAmt0233396964
IRS990ScheduleD/TotalRevenuePerForm990Amt013586986
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013586986
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012094124
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0157596
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1269857
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount09000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount120000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt059669
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt195389
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt09060
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt116434
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt02500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt115224
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARGARET LAMB
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1RENEE D DEMARCO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SVP/CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0237825
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1416904
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0TRAVEL FOR COMPANIONS IS PROVIDED TO THE CREDIT UNION'S OFFICIAL FAMILY (CURRENTLY 8 BOARD MEMBERS) AND IS GOVERNED BY THE OFFICIAL FAMILY CONFERENCE POLICY WHICH STATES THAT IF IT IS DETERMINED THAT SPOUSES AND GUESTS DO NOT PLAY A SIGNIFICANT BUSINESS ROLE THE REIMBURSEMENT OF TRAVEL EXPENSES OF THE SPOUSE OR GUEST WILL BE TREATED AS INCOME.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1RENEE DEMARCO, MARGARET LAMB, AND S. MAXWELL SMITH PARTICIPATED IN A 457(F). DURING 2018 THE ACCRUED BENEFIT WAS $70,461, $57,276, AND $19,960, RESPECTIVELY.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EVERY CLIENT THAT HAS AN ACCOUNT WITH OUR CREDIT UNION IS ALSO A MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT MEMBERS OF THE GOVERNING BODY EACH YEAR AT THE ANNUAL MEETING.

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$260,418,881
Liabilities
$236,096,541
Net assets
$24,322,340
Revenue
$13,586,986
Expenses
$12,094,124
Net income
$1,492,862
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$471$437$33.7$30.1$26.6$3.57
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$457$427$29.6$29.4$23.1$6.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$351$331$20.0$15.3$11.7$3.60
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$343$314$29.1$13.5$11.6$1.87
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$321$292$28.8$13.2$11.8$1.38
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$272$245$26.9$14.5$12.7$1.80
2018Detailed filing. Detailed filing data is available for this year.$260$236$24.3$13.6$12.1$1.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$256$233$22.6$12.9$12.0$0.90
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$249$227$22.1$12.9$12.4$0.54
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$250$228$21.9$12.4$11.9$0.48
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$248$226$21.9$12.0$11.6$0.43
2013Summary only. Only limited summary data is available for this year.$184$170$13.8$10.3$9.66$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$181$167$13.9$10.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$177$163$14.3$12.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$173$158$15.0$14.3
Peer Organizations

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