Civic Intelligence

Credit Unions Chartered in the State of Michigan

EIN 38-1439781 • 501(c)14 • Romulus, MI

Profile

To help our members reach their financial goals. We are committed to providing exceptional services from knowledgeable employees. As a member of the PSCU family, everyone will be treated with dignity and respect.

7665 Merriman RoadRomulus, MI 48174

www.pscunow.com

Siviq Scores

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

Liabilities / Assets

56th percentile

0.91x

Higher debt load relative to assets than 56% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

14th percentile

11.94x

Higher debt load relative to revenue than 14% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Net Margin

39th percentile

7.2%

Higher net margin than 39% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

34th percentile

1.0%

Faster asset growth than 34% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

10th percentile

3.9%

Faster revenue growth than 10% of similar nonprofits.

501(c)14 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$419,478,532

Up $3,950,277 (+1.0%) from 2023

Liabilities

Down

$380,154,720

Down $1,234,624 (-0.3%) from 2023

Net Assets

Up

$39,323,812

Up $5,184,901 (+15%) from 2023

Revenue

Up

$31,835,970

Up $1,201,581 (+3.9%) from 2023

Expenses

Up

$29,530,611

Up $2,656,231 (+9.9%) from 2023

Net Income

Down

$2,305,359

Down $1,454,650 (-39%) from 2023

Trend Graphs

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $124,535,167Liabilities 2010: $108,882,895Net Assets 2010: $15,652,2722010Assets 2011: $132,363,721Liabilities 2011: $115,925,424Net Assets 2011: $16,438,2972011Assets 2012: $134,305,935Liabilities 2012: $117,054,434Net Assets 2012: $17,251,5012012Assets 2013: $138,647,899Liabilities 2013: $121,880,128Net Assets 2013: $16,767,7712013Assets 2014: $148,456,345Liabilities 2014: $128,230,058Net Assets 2014: $20,226,2872014Assets 2015: $156,473,106Liabilities 2015: $136,124,766Net Assets 2015: $20,348,3402015Assets 2016: $239,040,778Liabilities 2016: $214,543,361Net Assets 2016: $24,497,4172016Assets 2017: $269,159,657Liabilities 2017: $241,290,914Net Assets 2017: $27,868,7432017Assets 2018: $285,973,059Liabilities 2018: $254,616,747Net Assets 2018: $31,356,3122018Assets 2019: $293,173,964Liabilities 2019: $260,315,511Net Assets 2019: $32,858,4532019Assets 2020: $337,086,473Liabilities 2020: $303,735,904Net Assets 2020: $33,350,5692020Assets 2021: $367,474,498Liabilities 2021: $329,756,015Net Assets 2021: $37,718,4832021Assets 2022: $391,529,125Liabilities 2022: $363,581,738Net Assets 2022: $27,947,3872022Assets 2023: $415,528,255Liabilities 2023: $381,389,344Net Assets 2023: $34,138,9112023Assets 2024: $419,478,532Liabilities 2024: $380,154,720Net Assets 2024: $39,323,8122024

Highlighted filing

2024

Assets$419,478,532
Liabilities$380,154,720
Net Assets$39,323,812

Operations Trend

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

$40M$30M$20M$10M$0Expenses 2010: $9,605,7422010Expenses 2011: $9,797,3472011Expenses 2012: $10,265,5772012Revenue 2013: $11,562,064Expenses 2013: $9,784,419Net Income 2013: $1,777,6452013Revenue 2014: $11,588,205Expenses 2014: $9,778,836Net Income 2014: $1,809,3692014Revenue 2015: $12,146,474Expenses 2015: $11,076,579Net Income 2015: $1,069,8952015Revenue 2016: $15,092,120Expenses 2016: $12,637,910Net Income 2016: $2,454,2102016Revenue 2017: $16,788,669Expenses 2017: $13,572,812Net Income 2017: $3,215,8572017Revenue 2018: $18,969,550Expenses 2018: $16,945,864Net Income 2018: $2,023,6862018Revenue 2019: $22,992,823Expenses 2019: $20,961,439Net Income 2019: $2,031,3842019Revenue 2020: $19,412,411Expenses 2020: $18,613,765Net Income 2020: $798,6462020Revenue 2021: $22,316,776Expenses 2021: $18,634,519Net Income 2021: $3,682,2572021Revenue 2022: $20,530,252Expenses 2022: $19,446,149Net Income 2022: $1,084,1032022Revenue 2023: $30,634,389Expenses 2023: $26,874,380Net Income 2023: $3,760,0092023Revenue 2024: $31,835,970Expenses 2024: $29,530,611Net Income 2024: $2,305,3592024

Highlighted filing

2024

Revenue$31,835,970
Expenses$29,530,611
Net Income$2,305,359

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$419$380$39.3$31.8$29.5$2.31
2023Detailed filing. Detailed filing data is available for this year.$416$381$34.1$30.6$26.9$3.76
2022Detailed filing. Detailed filing data is available for this year.$392$364$27.9$20.5$19.4$1.08
2021Detailed filing. Detailed filing data is available for this year.$367$330$37.7$22.3$18.6$3.68
2020Detailed filing. Detailed filing data is available for this year.$337$304$33.4$19.4$18.6$0.80
2019Detailed filing. Detailed filing data is available for this year.$293$260$32.9$23.0$21.0$2.03
2018Detailed filing. Detailed filing data is available for this year.$286$255$31.4$19.0$16.9$2.02
2017Detailed filing. Detailed filing data is available for this year.$269$241$27.9$16.8$13.6$3.22
2016Detailed filing. Detailed filing data is available for this year.$239$215$24.5$15.1$12.6$2.45
2015Detailed filing. Detailed filing data is available for this year.$156$136$20.3$12.1$11.1$1.07
2014Detailed filing. Detailed filing data is available for this year.$148$128$20.2$11.6$9.78$1.81
2013Detailed filing. Detailed filing data is available for this year.$139$122$16.8$11.6$9.78$1.78
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$134$117$17.3$10.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$132$116$16.4$9.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$125$109$15.7$9.61
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$31,835,970
Mission and Program Overview

Mission

To help our members reach their financial goals. We are committed to providing exceptional services from knowledgable employees. As a member of the pscu family, everyone will be treated with dignity and respect.

To provide financial services to member owners with a common bond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$257,305,682$267,296,170▲ $9,990,488
Investments Other Securities$92,111,313$93,730,284▲ $1,618,971
Rtn Earn Endowment Incm Other Fnds$34,138,911$39,323,812▲ $5,184,901
Accounts Receivable$7,020,563$9,971,200▲ $2,950,637
Land, Buildings, and Equipment, Net$10,355,735$9,889,708▼ $466,027
Receivables From Officers Etc$5,496,528$8,012,079▲ $2,515,551
Cash and Non-Interest-Bearing Accounts$4,999,625$5,197,902▲ $198,277
Investments Program Related$6,232,794$4,678,756▼ $1,554,038
Savings and Temporary Cash Investments$16,661,587$3,300,581▼ $13,361,006
Prepaid Expenses and Deferred Charges$668,704$532,419▼ $136,285
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$415,528,255$419,478,532▲ $3,950,277
Other Assets Total$14,675,724$16,869,433▲ $2,193,709
Liabilities
Other Liabilities$361,155,612$355,193,768▼ $5,961,844
Unsecured Notes Loans Payable$15,000,000$20,000,000▲ $5,000,000
Accounts Payable and Accrued Expenses$5,233,732$4,960,952▼ $272,780
Total Liabilities$381,389,344$380,154,720▼ $1,234,624
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,138,911$39,323,812▲ $5,184,901
Total Liabilities and Net Assets / Fund Balance$415,528,255$419,478,532▲ $3,950,277

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,671,101$2,617,689$9,288,790
Equipment$799,363$3,268,808$4,068,171
Land$2,179,595-$2,179,595
Leasehold Improvements$239,649$699,463$939,112
Other Securities$3,548,944--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dean J TrudeauPresident/CEO, Board TreasurerFT$367,828$130,384$498,212
Angelo FanarasCIO/SVP of Electronic ServicesFT$182,461$136,765$319,226
Donna FollbaumCOO/evp of Branch ServicesFT$191,877$70,453$262,330
Melissa EspinozaCFO/SVP of SupportFT$213,538$39,357$252,895
Robert MercierCLO/SVP of Sales & LendingFT$168,399$68,478$236,877
Tanis CampbellVP of Risk ManagementFT$124,221$60,426$184,647
Ashley CarrVP of People & CultureFT$127,862$54,793$182,655
Damika ClarkVP of Branch ExperienceFT$111,810$58,815$170,625
Dawn SewardAvp of Consumer Lending & CollectionsFT$112,907$36,459$149,366
Brian BuczekCommercial Relationship ManagerFT$131,161$17,721$148,882

Board Members and Trustees

NameTitle
Frederick MorganChairperson
Charlie LowlerVice Chairperson
Dale ReaumeDirector
Juanita HenryDirector
Edward CareySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Visifi INCProcessor22 INVERNESS CTR PKWY, Birmingham, AL 35242$1,754,884
Co-opCard Processor4950 AMON CARTER BLVD, Fort Worth, TX 76155$1,575,172
Edge OneAtm Services161 BUSINESS PARK CIRCLE, Stoughton, WI 53589$823,646
Holzman Corkery PllcAttorney28366 FRANKLIN RD, Southfield, MI 48034$626,078
Premier Property Maintenance LLCProperty/lawn MaintenancePO BOX 531895, Livonia, MI 48153$491,539
Revenue and Support

Revenue Composition

Contributions and Grants
$2,289,320
Program Service Revenue
$26,998,903
Investment Income
$2,547,747
Other Revenue
$0
Change in Net Assets
$2,305,359

Audited Revenue Reconciliation

Revenue per Audited Statements
$31,835,970
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$143,814
Total Revenue per Audited Statements
$31,979,784
Total Revenue per Form 990
$31,835,970
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,208,708
Salaries, Compensation, and Employee Benefits$11,311,903
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$6,939,574
Interest---$5,785,475
Office Expenses---$4,140,712
Other Employee Benefits---$1,664,023
Current Officers, Directors, Trustees, and Key Employees---$1,569,540
Information Technology---$950,109
Occupancy---$946,549
Depreciation Depletion---$711,787
Payroll Taxes---$635,015
Pension Plan Contributions---$503,751
Conferences and Meetings---$491,450
Advertising---$442,881
Fees for Services Accounting---$158,658
Insurance---$112,196
Travel---$62,215
Other Expenses---$58,661
Fees for Services Legal---$32,241
Fees for Services Other---$32,126
Grants to Domestic Individuals---$10,000
Total Functional Expenses$0$0$0$29,530,611

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,530,611
Total Expenses per Audited Statements$29,530,611
Total Expenses per Form 990$29,530,611
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Ashley Carr Hr ManagerCredit Union Employee-family Relationship With President/ceo, Dean TrudeauCompensation & BenefitsNo$139,498
Donna Gdowski Marketingevents COOCredit Union Employee-family Relationship With President/ceo, Dean TrudeauCompensation & BenefitsNo$49,734

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$5,496,528$8,012,079▲ $2,515,551
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular Shares$120,574,223
Certificates of Deposit$109,404,773
Share Drafts$76,735,132
Money Market Accounts$44,256,748
Ira Shares$4,222,892
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
Yes
Business relationship with family members
Yes
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

The credit union has a single class of members with equal rights of ownership, governance and voting.

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

The board of directors is elected by a mail ballot. Each board member is elected for a three year term.

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

Credit union decisions that are subject to membership approval are mergers where the credit union is not the surviving one and by-law changes.

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

A review is conducted by the president/ceo and cfo/svp of support prior to submission to the irs. Subsequent to filing, the board of directors is provided with a copy of the 990 return submitted.

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

Conflicts of interest are reviewed and noted by the risk management department. Follow up is also performed by the risk management department.

Form 990, Part VI, Section B, Line 15

The board of directors form a committee to evaluate the president/ceo. Salary increases are based on performance. The president/ceo performs an annual review of the cfo/svp of support and other executive managers and uses a compensation survey. Salary recommendations are given to the board of directors for approval.

Form 990, Part VI, Section C, Line 19

Financial statements are posted in the credit union lobby. Other documents and policies are available for review upon request.

Filing and Contact Details

Filer

Filer Name
Public Service Credit Union
EIN
38-1439781
Phone
7346418400
Address
7665 MERRIMAN ROAD, ROMULUS, MI 48174

Signing Officer

Name
Dean J Trudeau
Title
President/CEO
Phone
7346418400
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dean J Trudeau
Formed
1951
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
5
Employees
175
Volunteers
5

Preparer

Firm
Doeren Mayhew
Address
8785 SW 165TH AVENUE SUITE 303, MIAMI, FL 33193
Preparer
Aubrey Clegg
Phone
3052328272
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional services 32,126.

FORM 990, PART XI, LINE 9:

Net change in defined benefit pension plan 1,787,672.

Form 990, Part XII, Line 2C

The process of which the organization's committee oversees the audit of its financial statements has not changed since the prior year.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt from most federal, state and local income taxes under the provisions of the internal revenue code (irc) and state tax laws. However, irc section 511 imposes a tax on the unrelated business income derived by state-chartered credit unions. Generally, these taxes are insignificant to the credit union.

Raw XML AppendixShowing 400 of 728 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/Form990PartVIISectionAGrp/PersonNm3JUANITA HENRY
IRS990/Form990PartVIISectionAGrp/PersonNm4DALE REAUME
IRS990/Form990PartVIISectionAGrp/PersonNm5DEAN J TRUDEAU
IRS990/Form990PartVIISectionAGrp/PersonNm6MELISSA ESPINOZA
IRS990/Form990PartVIISectionAGrp/PersonNm7DONNA FOLLBAUM
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IRS990/Form990PartVIISectionAGrp/PersonNm11TANIS CAMPBELL
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT/CEO, BOARD TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6CFO/SVP OF SUPPORT
IRS990/Form990PartVIISectionAGrp/TitleTxt7COO/EVP OF BRANCH SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt8CLO/SVP OF SALES & LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt9CIO/SVP OF ELECTRONIC SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP OF PEOPLE & CULTURE
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP OF RISK MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP OF BRANCH EXPERIENCE
IRS990/Form990PartVIISectionAGrp/TitleTxt13COMMERCIAL RELATIONSHIP MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt14AVP OF CONSUMER LENDING & COLLECTIONS
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IRS990/MissionDesc0TO HELP OUR MEMBERS REACH THEIR FINANCIAL GOALS. WE ARE COMMITTED TO PROVIDING EXCEPTIONAL SERVICES FROM KNOWLEDGABLE EMPLOYEES. AS A MEMBER OF THE PSCU FAMILY, EVERYONE WILL BE TREATED WITH DIGNITY AND RESPECT.
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0AFS NEGOTIABLE CERTIFICATES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1CERTIFICATES OF DEPOSIT
IRS990ScheduleD/OtherSecuritiesGrp/Desc2AFS CMOS/MBSS/SBAS
IRS990ScheduleD/OtherSecuritiesGrp/Desc3CO-OP NETWORK STOCK
IRS990ScheduleD/OtherSecuritiesGrp/Desc4AFS CORPORATE BONDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc5CU SOLUTIONS GROUP STOCK

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