Civic Intelligence

Credit Unions Chartered in the State of Michigan

EIN 38-1461385 • 501(c)14 • Alpena, MI

Profile

To be your most trusted and valued financial partner. Member promise: we promise to simplify your life, work in your best interest, and be your advocate to help achieve your financial needs.

PO Box 515Alpena, MI 49707

www.aaacu.com

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.89x

Higher debt load relative to assets than 32% of similar nonprofits.

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

Liabilities / Revenue

54th percentile

15.25x

Higher debt load relative to revenue than 54% of similar nonprofits.

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

Net Margin

90th percentile

21%

Higher net margin than 90% of similar nonprofits.

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

Top Officer Pay

92nd percentile

$851,336

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

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

Asset Growth

93rd percentile

11%

Faster asset growth than 93% of similar nonprofits.

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

Revenue Growth

90th percentile

26%

Faster revenue growth than 90% of similar nonprofits.

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

Assets

Up

$861,392,444

Up $85,897,174 (+11%) from 2023

Liabilities

Up

$762,946,717

Up $75,100,239 (+11%) from 2023

Net Assets

Up

$98,445,727

Up $10,796,935 (+12%) from 2023

Revenue

Up

$50,013,838

Up $10,437,391 (+26%) from 2023

Expenses

Up

$39,278,359

Up $9,565,214 (+32%) from 2023

Net Income

Up

$10,735,479

Up $872,177 (+8.8%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0B$500M$0Assets 2010: $243,605,147Liabilities 2010: $223,240,802Net Assets 2010: $20,364,3452010Assets 2011: $251,184,785Liabilities 2011: $229,841,776Net Assets 2011: $21,343,0092011Assets 2012: $268,648,070Liabilities 2012: $245,835,252Net Assets 2012: $22,812,8182012Assets 2013: $278,553,195Liabilities 2013: $254,412,976Net Assets 2013: $24,140,2192013Assets 2014: $288,845,336Liabilities 2014: $263,041,738Net Assets 2014: $25,803,5982014Assets 2015: $307,679,055Liabilities 2015: $279,678,775Net Assets 2015: $28,000,2802015Assets 2016: $328,696,159Liabilities 2016: $297,184,935Net Assets 2016: $31,511,2242016Assets 2017: $331,997,647Liabilities 2017: $296,501,336Net Assets 2017: $35,496,3112017Assets 2018: $340,740,552Liabilities 2018: $300,857,918Net Assets 2018: $39,882,6342018Assets 2019: $371,328,853Liabilities 2019: $325,830,940Net Assets 2019: $45,497,9132019Assets 2020: $451,024,745Liabilities 2020: $398,133,098Net Assets 2020: $52,891,6472020Assets 2021: $535,801,476Liabilities 2021: $475,118,952Net Assets 2021: $60,682,5242021Assets 2022: $575,272,399Liabilities 2022: $507,918,697Net Assets 2022: $67,353,7022022Assets 2023: $775,495,270Liabilities 2023: $687,846,478Net Assets 2023: $87,648,7922023Assets 2024: $861,392,444Liabilities 2024: $762,946,717Net Assets 2024: $98,445,7272024

Highlighted filing

2024

Assets$861,392,444
Liabilities$762,946,717
Net Assets$98,445,727

Operations Trend

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

$60M$40M$20M$0Expenses 2010: $10,090,4432010Expenses 2011: $8,968,0422011Expenses 2012: $8,465,8962012Revenue 2013: $9,492,429Expenses 2013: $8,165,028Net Income 2013: $1,327,4012013Revenue 2014: $9,661,355Expenses 2014: $7,997,976Net Income 2014: $1,663,3792014Revenue 2015: $11,027,322Expenses 2015: $8,830,640Net Income 2015: $2,196,6822015Revenue 2016: $12,862,124Expenses 2016: $9,351,180Net Income 2016: $3,510,9442016Revenue 2017: $14,214,468Expenses 2017: $10,229,381Net Income 2017: $3,985,0872017Revenue 2018: $16,306,949Expenses 2018: $11,920,626Net Income 2018: $4,386,3232018Revenue 2019: $18,761,990Expenses 2019: $13,146,711Net Income 2019: $5,615,2792019Revenue 2020: $21,735,767Expenses 2020: $14,342,033Net Income 2020: $7,393,7342020Revenue 2021: $22,122,560Expenses 2021: $14,331,683Net Income 2021: $7,790,8772021Revenue 2022: $23,924,797Expenses 2022: $17,253,819Net Income 2022: $6,670,9782022Revenue 2023: $39,576,447Expenses 2023: $29,713,145Net Income 2023: $9,863,3022023Revenue 2024: $50,013,838Expenses 2024: $39,278,359Net Income 2024: $10,735,4792024

Highlighted filing

2024

Revenue$50,013,838
Expenses$39,278,359
Net Income$10,735,479

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$861$763$98.4$50.0$39.3$10.7
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$775$688$87.6$39.6$29.7$9.86
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$575$508$67.4$23.9$17.3$6.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$536$475$60.7$22.1$14.3$7.79
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$451$398$52.9$21.7$14.3$7.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$371$326$45.5$18.8$13.1$5.62
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$341$301$39.9$16.3$11.9$4.39
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$332$297$35.5$14.2$10.2$3.99
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$329$297$31.5$12.9$9.35$3.51
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$308$280$28.0$11.0$8.83$2.20
2014Detailed filing. Detailed filing data is available for this year.$289$263$25.8$9.66$8.00$1.66
2013Detailed filing. Detailed filing data is available for this year.$279$254$24.1$9.49$8.17$1.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$269$246$22.8$8.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$251$230$21.3$8.97
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$244$223$20.4$10.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.2
Gross Receipts
$50,284,698
Mission and Program Overview

Mission

To be your most trusted and valued financial partner. Member promise: we promise to simplify your life, work in your best interest, and be your advocate to help achieve your financial needs.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$445,891,851$506,304,689▲ $60,412,838
Investments Other Securities$245,981,664$255,672,964▲ $9,691,300
Rtn Earn Endowment Incm Other Fnds$87,648,792$98,445,727▲ $10,796,935
Savings and Temporary Cash Investments$36,035,803$49,340,836▲ $13,305,033
Investments Program Related$24,464,797$24,488,545▲ $23,748
Land, Buildings, and Equipment, Net$6,666,771$6,647,215▼ $19,556
Cash and Non-Interest-Bearing Accounts$3,531,913$4,215,549▲ $683,636
Intangible Assets$2,559,843$2,280,587▼ $279,256
Prepaid Expenses and Deferred Charges$317,804$314,077▼ $3,727
Accounts Receivable$20,221$39,422▲ $19,201
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$775,495,270$861,392,444▲ $85,897,174
Other Assets Total$10,024,603$12,088,560▲ $2,063,957
Liabilities
Other Liabilities$681,267,156$755,411,267▲ $74,144,111
Accounts Payable and Accrued Expenses$6,579,322$7,535,450▲ $956,128
Total Liabilities$687,846,478$762,946,717▲ $75,100,239
Net Assets / Fund Balance
Total Net Assets Fund Balance$87,648,792$98,445,727▲ $10,796,935
Total Liabilities and Net Assets / Fund Balance$775,495,270$861,392,444▲ $85,897,174

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,263,410$3,479,756$7,743,166
Equipment$979,803$4,519,450$5,499,253
Land$1,404,002-$1,404,002
Other Securities$1,211,047--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald J MillsPresident/CEOFT$456,517$394,819$851,336
Barbara MillsCXOFT$183,171$83,428$266,599
Annah OrbanMortgage OriginatorFT$47,401$196,631$244,032
Angela SzatkowskiCOOFT$176,958$60,723$237,681
Sheila LingMortgage OriginatorFT$47,804$112,245$160,049
Jerome SchmidtCommercial Loan OfficerFT$120,821$39,171$159,992
Jamie QuickDirector of AccountingFT$114,194$17,050$131,244

Board Members and Trustees

NameTitle
Charlie NegroChairperson
Sheila PankninVice Chairperson
James GormanAssociate Board Member
Mark DeversAssociate Board Member
Ann MartinDirector
Anne WirgauDirector
James McneilDirector
Michelle CornishDirector
Scott MclennanDirector
Brian ShumakerSecretary
Terry NelkieTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
CuanswersData Processing6000 28TH STREET, Grand Rapids, MI 49546$1,312,321
Diebold NixdorfAtm ServicingPO BOX 643543, Pittsburgh, PA 15264$165,876
Factual DataCredit ReportsPO BOX 640495, Pittsburgh, PA 15264$127,354
Dell Marketing LPTech & EquipmentPO BOX 643561, Pittsburgh, PA 15264$126,752
Neighborhood Mortgage SolutionsMortgage Servicing975 N MAIN SUITE D, Frankenmuth, MI 48734$109,677
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$35,878,227
Investment Income
$13,947,077
Other Revenue
$188,534
Change in Net Assets
$10,735,479

Audited Revenue Reconciliation

Revenue per Audited Statements
$50,013,838
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$50,013,838
Total Revenue per Form 990
$50,013,838
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$27,956,807
Salaries, Compensation, and Employee Benefits$11,296,552
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$14,613,168
Other Salaries and Wages---$7,082,123
Other Employee Benefits---$1,730,137
Office Expenses---$1,620,120
Advertising---$1,311,982
Current Officers, Directors, Trustees, and Key Employees---$982,580
Pension Plan Contributions---$847,708
Payroll Taxes---$654,004
Depreciation Depletion---$552,458
Fees for Services Other---$503,479
All Other Expenses---$450,026
Occupancy---$376,899
Other Expenses---$364,108
Conferences and Meetings---$247,978
Insurance---$155,576
Information Technology---$128,782
Fees for Services Accounting---$61,760
Travel---$37,022
Payments to Affiliates---$32,529
Fees for Services Legal---$26,635
Grants to Domestic Individuals---$25,000
Total Functional Expenses$0$0$0$39,278,359

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$39,278,359
Total Expenses per Audited Statements$39,278,359
Total Expenses per Form 990$39,278,359
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
Donald J MillsPresident/ceoEmployee Compensation/benefitsNo$851,336
Barbara MillsChief Experience OfficerEmployee Compensation/benefitsNo$266,599
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$755,411,267
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
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 2

Donald mills, the president/ceo, is married to barbara mills, the chief experience officer.

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

Board members are elected for three year terms by the membership.

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

The members must approve mergers and by-law changes.

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

President/ceo and accounting supervisor review the 990 and supporting documents before presenting to the board of directors for their review at a monthly board meeting.

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

The policy is distributed to staff, board of directors and committees annually. It is monitored by the president/ceo, board of directors and key staff. All employees sign a code of conduct annually.

Form 990, Part VI, Section B, Line 15

Compensation for president/ceo is determined by a compensation committee comprised of three board members who review compensation survey information and make a recommendation to the full board of directors who then vote on the recommendation. The last compensation review for the president/ceo was performed in february 2024.

Form 990, Part VI, Section C, Line 19

990 & 990t returns are available upon request. Policies and governing documents are available upon request of the president/ceo. Financial statements are posted in the lobby. Financial statements are also available on ncua.gov via the quarterly call report.

Filing and Contact Details

Filer

Filer Name
Alpena Alcona Area Credit Union
EIN
38-1461385
Phone
9893563577
Address
PO BOX 515, ALPENA, MI 49707

Signing Officer

Name
Donald J Mills
Title
President/CEO
Phone
9893563577
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald J Mills
Formed
1953
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
177
Volunteers
15

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 24E

Miscellaneous expense 300,604. Maintenance and repairs 149,422.

Form 990, Part XII, Line 2C

There were no changes in the process of the committte that assumes responsibility of the oversight of the audit and selection of the independent auditor.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt, by statute (irc section 501(c)(14)), from federal income tax.

Raw XML AppendixShowing 400 of 719 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt07535450
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IRS990/AccountsReceivableGrp/EOYAmt039422
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.
IRS990/AdvertisingGrp/TotalAmt01311982
IRS990/AllOtherExpensesGrp/TotalAmt0450026
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IRS990/AuditCommitteeInd01
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
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IRS990/ContractorCompensationGrp/CompensationAmt01312321
IRS990/ContractorCompensationGrp/CompensationAmt1165876
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IRS990/ContractorCompensationGrp/CompensationAmt4109677
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm2PITTSBURGH
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MI
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2FACTUAL DATA
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IRS990/ContractorCompensationGrp/ServicesDesc2CREDIT REPORTS
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IRS990/ContractorCompensationGrp/ServicesDesc4MORTGAGE SERVICING
IRS990/CreditCounselingInd00
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IRS990/CYOtherExpensesAmt027956807
IRS990/CYOtherRevenueAmt0188534
IRS990/CYProgramServiceRevenueAmt035878227
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IRS990/Desc0PROVIDE 47,873 MEMBERS WITH REGULAR SAVINGS, PREFERRED SAVINGS, MONEY MARKET, SHARE DRAFTS, CHRISTMAS CLUB, VACATION CLUB, IRA, CERTIFICATES OF DEPOSIT, HEALTH SAVINGS AND ESCROW ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $755,411,000 AS OF DECEMBER 31, 2024.
IRS990/DescribedInSection501c3Ind00
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IRS990/ForeignActivitiesInd00
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IRS990/Form990PartVIISectionAGrp/PersonNm0CHARLIE NEGRO
IRS990/Form990PartVIISectionAGrp/PersonNm1SHEILA PANKNIN
IRS990/Form990PartVIISectionAGrp/PersonNm2TERRY NELKIE
IRS990/Form990PartVIISectionAGrp/PersonNm3BRIAN SHUMAKER
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHELLE CORNISH
IRS990/Form990PartVIISectionAGrp/PersonNm5ANN MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm6JAMES MCNEIL
IRS990/Form990PartVIISectionAGrp/PersonNm7MARK DEVERS
IRS990/Form990PartVIISectionAGrp/PersonNm8JAMES GORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm9SCOTT MCLENNAN
IRS990/Form990PartVIISectionAGrp/PersonNm10ANNE WIRGAU
IRS990/Form990PartVIISectionAGrp/PersonNm11DONALD J MILLS
IRS990/Form990PartVIISectionAGrp/PersonNm12JAMIE QUICK
IRS990/Form990PartVIISectionAGrp/PersonNm13ANGELA SZATKOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm14ANNAH ORBAN
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IRS990/Form990PartVIISectionAGrp/PersonNm17JEROME SCHMIDT
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRPERSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8ASSOCIATE BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt13COO
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IRS990/Form990PartVIISectionAGrp/TitleTxt15MORTGAGE ORIGINATOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16CXO
IRS990/Form990PartVIISectionAGrp/TitleTxt17COMMERCIAL LOAN OFFICER
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IRS990/MissionDesc0TO BE YOUR MOST TRUSTED AND VALUED FINANCIAL PARTNER. MEMBER PROMISE: WE PROMISE TO SIMPLIFY YOUR LIFE, WORK IN YOUR BEST INTEREST, AND BE YOUR ADVOCATE TO HELP ACHIEVE YOUR FINANCIAL NEEDS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE 32,534 LOANS INCLUDING HOME EQUITY, MORTGAGE, VEHICLE, LINE OF CREDIT, OVERDRAFT PROTECTION, SIGNATURE, CREDIT CARD AND COMMERCIAL LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $511,818,000 AS OF DECEMBER 31, 2024.
IRS990/ProgSrvcAccomActy3Grp/Desc0OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, SAFE DEPOSIT BOXES, MONEY ORDERS/CASHIER'S CHECKS, OVERDRAFT PRIVILEGE, ONLINE/MOBILE BANKING SERVICES INCLUDING BILL PAY AND REMOTE DEPOSIT, FINANCIAL COUNSELING, IN-SCHOOL BRANCHES AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS.
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0979803
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1582107
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2194288
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3158000
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