Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2020 • EIN 38-1456286

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 06, 2021

Organization Profilewww.unitycu.com
7240 East Twelve Mile RoadWarren, MI 48092

(586) 573-4110

Siviq Scores

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

Liabilities / Assets

17th percentile

0.84x

Higher debt load relative to assets than 17% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

33.82x

Higher debt load relative to revenue than 96% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

6th percentile

$80,801

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2020

Asset Growth

27th percentile

12%

Faster asset growth than 27% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-19%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$54,388,323

Up $5,618,194 (+12%) from 2019

Net Assets

Up

$8,631,296

Up $200,568 (+2.4%) from 2019

Liabilities

Up

$45,757,027

Up $5,417,626 (+13%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin72nd percentile

Revenue

Down

$1,352,829

Down $322,923 (-19%) from 2019

Expenses

Down

$1,152,261

Down $142,227 (-11%) from 2019

Net Income

Down

$200,568

Down $180,696 (-47%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$60M$40M$20M$0Assets 2010: $39,096,284Liabilities 2010: $32,354,829Net Assets 2010: $6,741,4552010Assets 2011: $48,750,839Liabilities 2011: $41,669,114Net Assets 2011: $7,081,7252011Assets 2012: $48,880,015Liabilities 2012: $41,650,706Net Assets 2012: $7,229,3092012Assets 2013: $46,717,028Liabilities 2013: $39,350,759Net Assets 2013: $7,366,2692013Assets 2014: $45,211,886Liabilities 2014: $37,847,141Net Assets 2014: $7,364,7452014Assets 2015: $46,128,972Liabilities 2015: $38,692,455Net Assets 2015: $7,436,5172015Assets 2016: $46,929,429Liabilities 2016: $39,327,045Net Assets 2016: $7,602,3842016Assets 2017: $47,112,961Liabilities 2017: $39,378,469Net Assets 2017: $7,734,4922017Assets 2018: $48,153,438Liabilities 2018: $40,103,974Net Assets 2018: $8,049,4642018Assets 2019: $48,770,129Liabilities 2019: $40,339,401Net Assets 2019: $8,430,7282019Assets 2020: $54,388,323Liabilities 2020: $45,757,027Net Assets 2020: $8,631,2962020

Highlighted filing

2020

Assets$54,388,323
Liabilities$45,757,027
Net Assets$8,631,296
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $1,356,8482010Expenses 2011: $1,488,0092011Expenses 2012: $1,294,9072012Revenue 2013: $1,171,098Expenses 2013: $1,047,209Net Income 2013: $123,8892013Revenue 2014: $1,134,835Expenses 2014: $1,046,425Net Income 2014: $88,4102014Revenue 2015: $1,113,467Expenses 2015: $1,038,834Net Income 2015: $74,6332015Revenue 2016: $1,235,001Expenses 2016: $1,069,134Net Income 2016: $165,8672016Revenue 2017: $1,193,056Expenses 2017: $1,060,948Net Income 2017: $132,1082017Revenue 2018: $1,461,437Expenses 2018: $1,146,465Net Income 2018: $314,9722018Revenue 2019: $1,675,752Expenses 2019: $1,294,488Net Income 2019: $381,2642019Revenue 2020: $1,352,829Expenses 2020: $1,152,261Net Income 2020: $200,5682020

Highlighted filing

2020

Revenue$1,352,829
Expenses$1,152,261
Net Income$200,568
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 6, 2021
Return Version
2020v4.0
Gross Receipts
$1,352,829
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$20,437,376$34,784,809▲ $14,347,433
Other Notes and Loans Receivable, Net$8,998,950$9,615,852▲ $616,902
Investments Other Securities$18,051,901$8,796,855▼ $9,255,046
Rtn Earn Endowment Incm Other Fnds$8,430,728$8,631,296▲ $200,568
Land, Buildings, and Equipment, Net$295,525$295,124▼ $401
Cash and Non-Interest-Bearing Accounts$347,512$239,839▼ $107,673
Prepaid Expenses and Deferred Charges$93,633$101,993▲ $8,360
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$48,770,129$54,388,323▲ $5,618,194
Other Assets Total$545,232$553,851▲ $8,619
Liabilities
Other Liabilities$40,141,004$45,561,498▲ $5,420,494
Accounts Payable and Accrued Expenses$198,397$195,529▼ $2,868
Total Liabilities$40,339,401$45,757,027▲ $5,417,626
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,430,728$8,631,296▲ $200,568
Total Liabilities and Net Assets / Fund Balance$48,770,129$54,388,323▲ $5,618,194

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$79,270$484,665$563,935
Other Land Buildings$88,389$343,018$431,407
Equipment-$273,920$273,920
Land$127,465-$127,465
Leasehold Improvements-$14,231$14,231
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dennis MoriarityTreasurer & CEOFT$74,301$6,500$80,801

Board Members and Trustees

NameTitle
Steve RedmondChairperson
Connie MitchellViceChairperson
Lou WintersDirector
Victoria McIntoshSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$671,426
Investment Income
$681,403
Other Revenue
$0
Change in Net Assets
$200,568
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$621,671
Other Expenses$530,590
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$405,374
Office Expenses---$222,253
Current Officers, Directors, Trustees, and Key Employees---$106,105
Interest---$72,090
Other Employee Benefits---$51,048
Occupancy---$43,180
Payroll Taxes---$39,350
All Other Expenses---$26,750
Pension Plan Contributions---$19,794
Insurance---$18,436
Other Expenses---$11,834
Depreciation Depletion---$11,276
Fees for Services Accounting---$9,589
Conferences and Meetings---$3,057
Fees for Services Legal---$1,911
Advertising---$1,025
Total Functional Expenses$0$0$0$1,152,261
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rounding$45,561,496
Other Liability$2
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Section 501c(14) Credit Union is composed of members.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Mergers are voted on by entire membership.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.”

Filing and Contact Details

Filer

Filer Name
Unity Credit Union
EIN
38-1456286
Phone
5865734110
Address
7240 East Twelve Mile Road, Warren, MI 48092

Signing Officer

Name
Dennis Moriarity
Title
Treasurer & CEO
Signed
2021-04-06
Discuss with paid preparer
Yes

Organization Details

Formed
1954
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
4
Employees
12
Volunteers
5

Preparer

Firm
Financial Standards Group Inc
Address
6447 W HIGHWAY 146, CRESTWOOD, KY 40014
Preparer
Brennen King
Phone
8005225820
Raw XML Appendix371 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/PersonNm1Lou Winters
IRS990/Form990PartVIISectionAGrp/PersonNm2Steve Redmond
IRS990/Form990PartVIISectionAGrp/PersonNm3Connie Mitchell
IRS990/Form990PartVIISectionAGrp/PersonNm4Victoria McIntosh
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
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IRS990/ProgramServiceRevenueGrp/Desc4Other Program Revenue
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12
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IRS990ScheduleD/TotalBookValueSecuritiesAmt08796855
IRS990ScheduleD/TotalLiabilityAmt045561498
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalProgramServiceRevenueAmt0671426
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07240 East Twelve Mile Road
IRS990/USAddress/CityNm0Warren
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd0480924006
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WebsiteAddressTxt0www.unitycu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dennis Moriarity
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Unity Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0UNIT
ReturnHeader/Filer/EIN0381456286
ReturnHeader/Filer/PhoneNum05865734110
ReturnHeader/Filer/USAddress/AddressLine1Txt07240 East Twelve Mile Road
ReturnHeader/Filer/USAddress/CityNm0Warren
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048092
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0650152722
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FINANCIAL STANDARDS GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06447 W HIGHWAY 146
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CRESTWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040014
ReturnHeader/PreparerPersonGrp/PhoneNum08005225820
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Brennen King
ReturnHeader/ReturnTs02021-04-06T04:26:14-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Dennis
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Moriarity
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$54,388,323
Liabilities
$45,757,027
Net assets
$8,631,296
Revenue
$1,352,829
Expenses
$1,152,261
Net income
$200,568
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$54.4$45.8$8.63$1.35$1.15$0.20
2019Detailed filing. Detailed filing data is available for this year.$48.8$40.3$8.43$1.68$1.29$0.38
2018Detailed filing. Detailed filing data is available for this year.$48.2$40.1$8.05$1.46$1.15$0.31
2017Detailed filing. Detailed filing data is available for this year.$47.1$39.4$7.73$1.19$1.06$0.13
2016Detailed filing. Detailed filing data is available for this year.$46.9$39.3$7.60$1.24$1.07$0.17
2015Detailed filing. Detailed filing data is available for this year.$46.1$38.7$7.44$1.11$1.04$0.07
2014Detailed filing. Detailed filing data is available for this year.$45.2$37.8$7.36$1.13$1.05$0.09
2013Detailed filing. Detailed filing data is available for this year.$46.7$39.4$7.37$1.17$1.05$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.9$41.7$7.23$1.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.8$41.7$7.08$1.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.1$32.4$6.74$1.36