Civic Intelligence

Credit Unions Chartered in the State Of

EIN 38-1480245 • 501(c)14 • Battle Creek, MI

Profile

Blueox credit union was founded upon the seven cooperative principles based in the philosophy of cooperation and the central values of equality, equity and mutual self-help. Blueox credit union's mission statement illustrates the brotherhood of man through people working together to achieve a better life for themselves and their community.

115 Riverside DrBattle Creek, MI 49015

www.blueoxcu.org

Siviq Scores

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

Liabilities / Assets

47th percentile

0.90x

Higher debt load relative to assets than 47% of similar nonprofits.

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

Liabilities / Revenue

28th percentile

13.38x

Higher debt load relative to revenue than 28% of similar nonprofits.

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

Net Margin

20th percentile

3.5%

Higher net margin than 20% of similar nonprofits.

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

Top Officer Pay

35th percentile

$302,621

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

$250M-$1B nonprofits • Source year 2024

Asset Growth

100th percentile

63%

Faster asset growth than 100% of similar nonprofits.

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

Revenue Growth

94th percentile

33%

Faster revenue growth than 94% of similar nonprofits.

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

Assets

Up

$364,563,300

Up $140,247,398 (+63%) from 2023

Liabilities

Up

$327,812,474

Up $123,739,387 (+61%) from 2023

Net Assets

Up

$36,750,826

Up $16,508,011 (+82%) from 2023

Revenue

Up

$24,499,429

Up $6,031,996 (+33%) from 2023

Expenses

Up

$23,650,396

Up $8,370,657 (+55%) from 2023

Net Income

Down

$849,033

Down $2,338,661 (-73%) from 2023

Trend Graphs

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $104,333,910Liabilities 2010: $95,312,341Net Assets 2010: $9,021,5692010Assets 2011: $110,174,603Liabilities 2011: $100,259,960Net Assets 2011: $9,914,6432011Assets 2012: $113,537,909Liabilities 2012: $102,832,454Net Assets 2012: $10,705,4552012Assets 2013: $116,360,929Liabilities 2013: $106,464,732Net Assets 2013: $9,896,1972013Assets 2014: $117,226,701Liabilities 2014: $106,060,712Net Assets 2014: $11,165,9892014Assets 2015: $125,129,903Liabilities 2015: $113,563,958Net Assets 2015: $11,565,9452015Assets 2016: $143,005,495Liabilities 2016: $129,631,992Net Assets 2016: $13,373,5032016Assets 2017: $141,418,411Liabilities 2017: $127,685,946Net Assets 2017: $13,732,4652017Assets 2018: $173,046,159Liabilities 2018: $156,568,061Net Assets 2018: $16,478,0982018Assets 2019: $179,407,752Liabilities 2019: $162,482,346Net Assets 2019: $16,925,4062019Assets 2020: $215,814,531Liabilities 2020: $198,313,463Net Assets 2020: $17,501,0682020Assets 2021: $224,804,382Liabilities 2021: $206,588,993Net Assets 2021: $18,215,3892021Assets 2022: $222,746,006Liabilities 2022: $204,744,291Net Assets 2022: $18,001,7152022Assets 2023: $224,315,902Liabilities 2023: $204,073,087Net Assets 2023: $20,242,8152023Assets 2024: $364,563,300Liabilities 2024: $327,812,474Net Assets 2024: $36,750,8262024

Highlighted filing

2024

Assets$364,563,300
Liabilities$327,812,474
Net Assets$36,750,826

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $4,896,8192010Expenses 2011: $4,779,1752011Expenses 2012: $4,369,7942012Revenue 2013: $4,553,366Expenses 2013: $3,957,622Net Income 2013: $595,7442013Revenue 2014: $4,824,417Expenses 2014: $4,139,232Net Income 2014: $685,1852014Revenue 2015: $4,761,554Expenses 2015: $4,369,479Net Income 2015: $392,0752015Revenue 2016: $5,538,876Expenses 2016: $4,940,754Net Income 2016: $598,1222016Revenue 2017: $6,507,194Expenses 2017: $6,023,150Net Income 2017: $484,0442017Revenue 2018: $10,509,831Expenses 2018: $9,885,542Net Income 2018: $624,2892018Revenue 2019: $10,762,798Expenses 2019: $10,958,538Net Income 2019: -$195,7402019Revenue 2020: $11,872,214Expenses 2020: $11,747,035Net Income 2020: $125,1792020Revenue 2021: $12,892,279Expenses 2021: $11,999,280Net Income 2021: $892,9992021Revenue 2022: $13,169,848Expenses 2022: $12,477,470Net Income 2022: $692,3782022Revenue 2023: $18,467,433Expenses 2023: $15,279,739Net Income 2023: $3,187,6942023Revenue 2024: $24,499,429Expenses 2024: $23,650,396Net Income 2024: $849,0332024

Highlighted filing

2024

Revenue$24,499,429
Expenses$23,650,396
Net Income$849,033

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$365$328$36.8$24.5$23.7$0.85
2023Detailed filing. Detailed filing data is available for this year.$224$204$20.2$18.5$15.3$3.19
2022Detailed filing. Detailed filing data is available for this year.$223$205$18.0$13.2$12.5$0.69
2021Detailed filing. Detailed filing data is available for this year.$225$207$18.2$12.9$12.0$0.89
2020Detailed filing. Detailed filing data is available for this year.$216$198$17.5$11.9$11.7$0.13
2019Detailed filing. Detailed filing data is available for this year.$179$162$16.9$10.8$11.0$0.20
2018Detailed filing. Detailed filing data is available for this year.$173$157$16.5$10.5$9.89$0.62
2017Detailed filing. Detailed filing data is available for this year.$141$128$13.7$6.51$6.02$0.48
2016Detailed filing. Detailed filing data is available for this year.$143$130$13.4$5.54$4.94$0.60
2015Summary only. Only limited summary data is available for this year.$125$114$11.6$4.76$4.37$0.39
2014Detailed filing. Detailed filing data is available for this year.$117$106$11.2$4.82$4.14$0.69
2013Detailed filing. Detailed filing data is available for this year.$116$106$9.90$4.55$3.96$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$114$103$10.7$4.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$100$9.91$4.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$104$95.3$9.02$4.90
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.1
Gross Receipts
$24,876,527
Mission and Program Overview

Mission

"blueox credit union is the bridge that gives people hope that tomorrow can be a better day." blueox credit union is made up of honest people whose sole purpose is to take care of the financial needs of our members.

Ignite credit unions mission is to provide quality financial services that will improve and make a difference in the lives of our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$175,311,931$279,268,588▲ $103,956,657
Rtn Earn Endowment Incm Other Fnds$20,242,815$36,750,826▲ $16,508,011
Savings and Temporary Cash Investments$17,761,961$33,255,022▲ $15,493,061
Investments in Publicly Traded Securities$8,097,180$15,317,833▲ $7,220,653
Land, Buildings, and Equipment, Net$8,093,840$10,309,657▲ $2,215,817
Intangible Assets$72,588$5,179,831▲ $5,107,243
Cash and Non-Interest-Bearing Accounts$2,527,893$4,294,920▲ $1,767,027
Investments Other Securities$3,980,697$3,258,274▼ $722,423
Receivables From Officers Etc$1,419,771$2,078,529▲ $658,758
Prepaid Expenses and Deferred Charges$357,415$220,910▼ $136,505
Accounts Receivable$467,042$26,004▼ $441,038
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$224,315,902$364,563,300▲ $140,247,398
Other Assets Total$6,225,584$11,353,732▲ $5,128,148
Liabilities
Other Liabilities$201,816,296$324,418,590▲ $122,602,294
Accounts Payable and Accrued Expenses$2,256,791$3,393,884▲ $1,137,093
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$204,073,087$327,812,474▲ $123,739,387
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,242,815$36,750,826▲ $16,508,011
Total Liabilities and Net Assets / Fund Balance$224,315,902$364,563,300▲ $140,247,398

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,322,910$3,818,623$10,141,533
Equipment$1,322,223$3,218,613$4,540,836
Land$2,141,086-$2,141,086
Other Land Buildings$523,438$549,280$1,072,718
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
S CobbPresidentFT$227,544$75,077$302,621
W HeppeVP Hr - Staff DevelopmentFT$188,814$45,048$233,862
D SlavensVP ItFT$116,943$49,552$166,495
J TangeVP OperationsFT$133,171$22,180$155,351
A NashVP Risk ManagemtFT$108,006$45,838$153,844
K LewisCEOFT$107,401$44,235$151,636
J AddingtonVP RetailFT$129,676$21,019$150,695
J RoodVP Accounting FinanceFT$116,648$20,459$137,107

Board Members and Trustees

NameTitle
D HicksDirector Chairperson
G GolembiewskiDirector Vice Chairperson
F HetherwickDirector
J RattiDirector
M DutcherDirector
M WallaceDirector
S EllisDirector
J KirkpatrickDirector Secretary
J MaesDirector Treasurer
A HartmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
FisDebit/credit Processor601 RIVERSIDE AVE, Jacksonville, FL 32202$1,164,318
Cu AnswersCore Processor6000 28TH STREET SUITE 100, Grand Rapids, MI 49546$933,669
PscuPayment Services560 CARILLION PKWY, St Petersburg, FL 33716$475,458
Revenue and Support

Revenue Composition

Contributions and Grants
$331,642
Program Service Revenue
$19,341,791
Investment Income
$1,925,648
Other Revenue
$2,900,348
All Other Contributions
$0
Change in Net Assets
$849,033

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,459,573
Revenue Not Reported on Financial Statements
$39,856
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$39,856
Total Revenue per Audited Statements
$24,459,573
Total Revenue per Form 990
$24,499,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,293,483
Salaries, Compensation, and Employee Benefits$8,356,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$0$0$0$5,787,429
Interest$0$0$0$3,134,537
Depreciation Depletion$0$0$0$1,393,713
Other Employee Benefits$0$0$0$1,130,327
Office Expenses$0$0$0$1,010,564
Information Technology$0$0$0$908,608
Occupancy$0$0$0$719,574
Current Officers, Directors, Trustees, and Key Employees$0$0$0$688,119
Payroll Taxes$0$0$0$560,453
Advertising$0$0$0$530,483
Fees for Services Other$0$0$0$504,788
All Other Expenses$0$0$0$313,605
Pension Plan Contributions$0$0$0$190,585
Travel$0$0$0$130,538
Fees for Services Legal$0$0$0$127,141
Conferences and Meetings$0$0$0$117,459
Other Expenses$0$0$0$101,671
Insurance$0$0$0$52,340
Total Functional Expenses$0$0$0$23,650,396

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,650,396
Expenses per Audited Statements$23,610,532
Total Expenses per Audited Statements$23,610,532
Expenses Not Reported on Financial Statements$39,864
Other Expense Adjustments$39,864
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
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,419,771$2,078,529▲ $658,758
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Shares$109,023,405
Share Drafts$76,508,598
Money Market$74,545,955
Certificates$64,340,632
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

Part VI, Line 6

The credit union has members.

Part VI, Line 7A

The credit union membership may participate in the election of officials.

Part VI, Line 7B

Members of the credit union have the right to approve the governing bodys election and removal of members of the governing body as well as other items that are subject to the approval of members.

Part VI, Line 11B

Upon receipt of the completed Form 990 management reviews the document for accuracy and reasonableness. Once this review is completed the governing body is informed that the form has been filed with the IRS and a copy is available upon request.

Part VI, Line 12C

A list of related parties is compiled. Employees who are authorized to transact where a conflict might occur are restricted.

Part VI, Line 15

The Boards personnel committee reviews the performance of the CEO and President. The Board approves recommendations. Ignite Credit Union utilizes Compease for comparability data when determining compensation for all employees. Compease provides competitive market-based salary ranges developed from extensive salary survey data that ensures the reliability of the information. Salary ranges are created to reflect the labor market in which Ignite Credit Union competes for labor. Salary ranges are updated annually.

Part VI, Line 19

Governing documents and conflict of interest policies are not made available to the public. Financial statements are made available to the public on the NCUAs website via the 5300 call report filing. In addition financial statements are posted monthly in credit union branch lobbies.

Filing and Contact Details

Filer

Filer Name
Ignite Credit Union
EIN
38-1480245
Phone
8006488035
Address
115 RIVERSIDE DR, BATTLE CREEK, MI 49015

Signing Officer

Name
Michael Ogrin
Title
Director of Finance
Phone
2692744348
Signed
2025-11-17
Discuss with paid preparer
No

Organization Details

Principal Officer
Kristopher Lewis
Formed
1936
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
168
Volunteers
13

Preparer

Firm
MiCUSO LLC
Address
204 S Main St, Wayland, MI 49348
Preparer
Michael Ogrin
Supplemental Narrative

Additional Explanations

Part XI, Line 9

| Description:, Explanation:, Amount:| BlueOx Credit Union combined with Ignite Credit Union, Equity from Merger, $15768779|

Financial Statement Notes

Part X, line 2

Income taxes - the credit union is exempt by statute from federal income taxes on income related to the exempt purpose of the credit union.

Part XI, line 4B

To add back the expense as rental expenses reported net of revenue in form 990 but reported as expenses within the audited financial statements.

Part XII, line 4B

39,856 in rental expenses reported net of revenue in form 990 but reported as expenses within the audited financial statements . 8 misc adjustment

Raw XML AppendixShowing 400 of 909 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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