Civic Intelligence

People Driven Credit Union

990 • Fiscal year 2019 • EIN 38-0478780

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 08, 2020

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

69th percentile

0.90x

Higher debt load relative to assets than 69% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

16.95x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Net Margin

40th percentile

12%

Higher net margin than 40% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

55th percentile

$439,338

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Asset Growth

32nd percentile

4.5%

Faster asset growth than 32% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

6.5%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$272,103,137

Up $11,684,256 (+4.5%) from 2018

Net Assets

Up

$26,936,854

Up $2,614,514 (+11%) from 2018

Liabilities

Up

$245,166,283

Up $9,069,742 (+3.8%) from 2018

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin40th percentile

Revenue

Up

$14,465,914

Up $878,928 (+6.5%) from 2018

Expenses

Up

$12,662,756

Up $568,632 (+4.7%) from 2018

Net Income

Up

$1,803,158

Up $310,296 (+21%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth32nd 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

2019

Assets$272,103,137
Liabilities$245,166,283
Net Assets$26,936,854
Open 2019 Filing

Operations Trend

Revenue Growth29th 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

2019

Revenue$14,465,914
Expenses$12,662,756
Net Income$1,803,158
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 8, 2020
Return Version
2019v5.1
Gross Receipts
$14,465,914
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$166,812,531$179,885,961▲ $13,073,430
Investments in Publicly Traded Securities$38,866,945$32,373,681▼ $6,493,264
Rtn Earn Endowment Incm Other Fnds$24,322,340$26,936,854▲ $2,614,514
Savings and Temporary Cash Investments$19,360,081$24,235,770▲ $4,875,689
Land, Buildings, and Equipment, Net$9,999,874$10,365,659▲ $365,785
Cash and Non-Interest-Bearing Accounts$8,851,538$8,902,085▲ $50,547
Investments Other Securities$4,062,494$4,033,515▼ $28,979
Prepaid Expenses and Deferred Charges$943,544$902,983▼ $40,561
Intangible Assets$517,183$423,149▼ $94,034
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$260,418,881$272,103,137▲ $11,684,256
Other Assets Total$11,004,691$10,980,334▼ $24,357
Liabilities
Other Liabilities$233,396,964$242,543,121▲ $9,146,157
Accounts Payable and Accrued Expenses$2,699,577$2,623,162▼ $76,415
Total Liabilities$236,096,541$245,166,283▲ $9,069,742
Net Assets / Fund Balance
Total Net Assets Fund Balance$24,322,340$26,936,854▲ $2,614,514
Total Liabilities and Net Assets / Fund Balance$260,418,881$272,103,137▲ $11,684,256

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,500,289$2,212,390$10,712,679
Land$1,368,977-$1,368,977
Equipment$496,393$771,882$1,268,275
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Renee D DemarcoPresident/CEOFT$275,356$163,982$439,338
Margaret LambCFOFT$161,938$88,061$249,999
Emily RobertsCOOFT$122,514$25,231$147,745
Scott SullivanVP MarketingFT$104,450$12,495$116,945

Board Members and Trustees

NameTitle
Claudia HunterBoard Chair
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 LLCGeneral Contracting417 COPPERSMITH DRIVE, Mason, MI 48854$571,785
Member Driven TechnologiesTechnology Services30230 PRCHARD LAKE RD, Farmington Hills, MI 48334$255,215
DieboldAtm ServicesPO BOX 643543, Pittsburgh, PA 15264-3543$200,892
Kasasa LtdConsulting ServicesPO BOX 527, Lubbock, TX 79408$150,205
Sentinel Technologies INCConsulting ServicesPO BOX 85080, Chicago, IL 60680-0851$137,469
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,917,472
Investment Income
$1,277,333
Other Revenue
$271,109
Change in Net Assets
$1,803,158

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,465,914
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$14,465,914
Total Revenue per Form 990
$14,465,914
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,146,500
Salaries, Compensation, and Employee Benefits$5,516,256
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,523,665
Occupancy---$778,197
Current Officers, Directors, Trustees, and Key Employees---$689,337
Other Employee Benefits---$529,504
Interest---$505,591
Other Expenses---$425,025
Pension Plan Contributions---$413,217
Payroll Taxes---$360,533
Fees for Services Other---$199,004
Advertising---$148,387
Travel---$117,464
All Other Expenses---$97,555
Fees for Services Legal---$58,678
Fees for Services Accounting---$13,176
Total Functional Expenses$0$0$0$12,662,756

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,662,756
Total Expenses per Audited Statements$12,662,756
Total Expenses per Form 990$12,662,756
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$242,543,121
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 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
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
2020-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Renee Demarco
Formed
1928
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
105
Volunteers
7

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 11G

“Other professional services 199,004.”

Form 990, Part IX, Line 24E

“MISCELLANEOUS 97,555.”

FORM 990, PART XI, LINE 9:

“Changes in assumptions on postretirement benefit obligation -26,815.”

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, 2019 (2016-2019).”

Raw XML AppendixShowing 400 of 493 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/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt9COO
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP MARKETING
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01928
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt014465914
IRS990/GroupExemptionNum01359
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/IntangibleAssetsGrp/BOYAmt0517183
IRS990/IntangibleAssetsGrp/EOYAmt0423149
IRS990/InterestGrp/TotalAmt0505591
IRS990/InvestmentIncomeGrp/ExclusionAmt01277333
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01277333
IRS990/InvestmentInJointVentureInd00
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt04033515
IRS990/InvestmentsPubTradedSecGrp/BOYAmt038866945
IRS990/InvestmentsPubTradedSecGrp/EOYAmt032373681
IRS990/IRPDocumentCnt03114
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt09999874
IRS990/LandBldgEquipBasisNetGrp/EOYAmt010365659
IRS990/LandBldgEquipCostOrOtherBssAmt013349931
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
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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/NetAssetsOrFundBalancesBOYAmt024322340
IRS990/NetAssetsOrFundBalancesEOYAmt026936854
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IRS990/NetUnrlzdGainsLossesInvstAmt0838171
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0778197
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011004691
IRS990/OtherAssetsTotalGrp/EOYAmt010980334
IRS990/OtherChangesInNetAssetsAmt0-26815
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0529504
IRS990/OtherExpensesGrp/Desc0OFFICE OPERATIONS
IRS990/OtherExpensesGrp/Desc1PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc2MEMBER SERVICES
IRS990/OtherExpensesGrp/Desc3LOAN SERVICING
IRS990/OtherExpensesGrp/TotalAmt02104208
IRS990/OtherExpensesGrp/TotalAmt11354606
IRS990/OtherExpensesGrp/TotalAmt21344609
IRS990/OtherExpensesGrp/TotalAmt3425025
IRS990/OtherLiabilitiesGrp/BOYAmt0233396964
IRS990/OtherLiabilitiesGrp/EOYAmt0242543121
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1525990
IRS990/OtherRevenueMiscGrp/Desc0INSURANCE SALES
IRS990/OtherRevenueMiscGrp/Desc1NON MEMBER ATMS
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0190681
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt180428
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt0190681
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt180428
IRS990/OtherRevenueTotalAmt0271109
IRS990/OtherSalariesAndWagesGrp/TotalAmt03523665
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0166812531
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0179885961
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0360533
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0413217
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0943544
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0902983
IRS990/PrincipalOfficerNm0RENEE DEMARCO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INCOME
IRS990/ProgramServiceRevenueGrp/Desc1FEES AND CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt08709639
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14207833
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt08709639
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14207833
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDED 3,538 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/PYInvestmentIncomeAmt01322790
IRS990/PYOtherExpensesAmt06574074
IRS990/PYOtherRevenueAmt0338690
IRS990/PYProgramServiceRevenueAmt011925506
IRS990/PYRevenuesLessExpensesAmt01492862
IRS990/PYSalariesCompEmpBnftPaidAmt05520050
IRS990/PYTotalExpensesAmt012094124
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt013586986
IRS990/ReconcilationRevenueExpnssAmt01803158
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt024322340
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt026936854
IRS990/SavingsAndTempCashInvstGrp/BOYAmt019360081
IRS990/SavingsAndTempCashInvstGrp/EOYAmt024235770
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08500289
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02212390
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010712679
IRS990ScheduleD/EquipmentGrp/BookValueAmt0496393
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0771882
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01268275
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt012662756
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01368977
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01368977
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0242543121
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARE ACCOUNTS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt014465914
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, 2019 (2016-2019).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010365659
IRS990ScheduleD/TotalExpensesPerForm990Amt012662756
IRS990ScheduleD/TotalLiabilityAmt0242543121
IRS990ScheduleD/TotalRevenuePerForm990Amt014465914
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014465914
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012662756
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/ClubDuesOrFeesInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0161938
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1275356
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount012100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount128000
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/DeferredCompensationFlngOrgAmt065803
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt1109789
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt09638
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt114493
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt0520
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt111700
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARGARET LAMB
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1RENEE D DEMARCO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0249999
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1439338
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 7 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 AND MARGARET LAMB PARTICIPATED IN A 457(F). DURING 2019 THE ACCRUED BENEFIT WAS $84,915 AND $57,276, RESPECTIVELY.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1A
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd01
IRS990ScheduleJ/TravelForCompanionsInd0X
IRS990ScheduleJ/WrittenEmploymentContractInd0X
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OFFICIALS ARE REQUIRED TO SIGN ANNUAL CERTIFICATION OF COMPLIANCE WITH POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPEASE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER PROFESSIONAL SERVICES 199,004.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MISCELLANEOUS 97,555.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9CHANGES IN ASSUMPTIONS ON POSTRETIREMENT BENEFIT OBLIGATION -26,815.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11AUDITED FINANCIAL STATEMENTS ARE DONE ON A FISCAL YEAR END AND TAX REPORTING IS REQUIRED ON A CALENDAR YEAR END.

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,103,137
Liabilities
$245,166,283
Net assets
$26,936,854
Revenue
$14,465,914
Expenses
$12,662,756
Net income
$1,803,158
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
2019Detailed filing. Detailed filing data is available for this year.$272$245$26.9$14.5$12.7$1.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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
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