Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2014 • EIN 38-1602298

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 16, 2015

Organization Profilewww.tbacu.com

View Organization Page

PO Box 1049Traverse City, MI 49685-1049

(231) 946-7090

Siviq Scores

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

Liabilities / Assets

24th percentile

0.87x

Higher debt load relative to assets than 24% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

70th percentile

20.39x

Higher debt load relative to revenue than 70% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Net Margin

91st percentile

23%

Higher net margin than 91% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

56th percentile

$204,733

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2014

Asset Growth

92nd percentile

12%

Faster asset growth than 92% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

81st percentile

7.5%

Faster revenue growth than 81% of similar nonprofits.

2014 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets24th percentile

Assets

Up

$179,863,612

Up $19,852,353 (+12%) from 2013

Net Assets

Up

$23,411,950

Up $1,189,480 (+5.4%) from 2013

Liabilities

Up

$156,451,662

Up $18,662,873 (+14%) from 2013

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin91st percentile

Revenue

Up

$7,674,136

Up $534,214 (+7.5%) from 2013

Expenses

Up

$5,921,444

Up $484,421 (+8.9%) from 2013

Net Income

Up

$1,752,692

Up $49,793 (+2.9%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$400M$300M$200M$100M$0Assets 2010: $139,597,783Liabilities 2010: $124,276,658Net Assets 2010: $15,321,1252010Assets 2011: $146,751,427Liabilities 2011: $128,570,536Net Assets 2011: $18,180,8912011Assets 2012: $159,423,365Liabilities 2012: $138,918,603Net Assets 2012: $20,504,7622012Assets 2013: $160,011,259Liabilities 2013: $137,788,789Net Assets 2013: $22,222,4702013Assets 2014: $179,863,612Liabilities 2014: $156,451,662Net Assets 2014: $23,411,9502014Assets 2015: $174,661,281Liabilities 2015: $148,561,563Net Assets 2015: $26,099,7182015Assets 2016: $191,325,200Liabilities 2016: $163,379,320Net Assets 2016: $27,945,8802016Assets 2017: $205,341,026Liabilities 2017: $175,753,465Net Assets 2017: $29,587,5612017Assets 2018: $218,594,615Liabilities 2018: $186,880,339Net Assets 2018: $31,714,2762018Assets 2019: $231,267,119Liabilities 2019: $197,448,074Net Assets 2019: $33,819,0452019Assets 2020: $279,941,839Liabilities 2020: $244,357,615Net Assets 2020: $35,584,2242020Assets 2021: $332,481,629Liabilities 2021: $293,226,049Net Assets 2021: $39,255,5802021Assets 2022: $344,647,354Liabilities 2022: $301,785,227Net Assets 2022: $42,862,1272022Assets 2023: $346,552,080Liabilities 2023: $299,684,699Net Assets 2023: $46,867,3812023Assets 2024: $368,914,484Liabilities 2024: $317,706,705Net Assets 2024: $51,207,7792024

Highlighted filing

2014

Assets$179,863,612
Liabilities$156,451,662
Net Assets$23,411,950
Open 2014 Filing

Operations Trend

Revenue Growth81st percentile

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

$30M$20M$10M$0Expenses 2010: $6,892,8092010Expenses 2011: $5,733,1712011Expenses 2012: $5,285,9532012Revenue 2013: $7,139,922Expenses 2013: $5,437,023Net Income 2013: $1,702,8992013Revenue 2014: $7,674,136Expenses 2014: $5,921,444Net Income 2014: $1,752,6922014Revenue 2015: $7,691,815Expenses 2015: $6,075,377Net Income 2015: $1,616,4382015Revenue 2016: $8,488,205Expenses 2016: $6,648,154Net Income 2016: $1,840,0512016Revenue 2017: $9,171,648Expenses 2017: $7,517,735Net Income 2017: $1,653,9132017Revenue 2018: $10,364,334Expenses 2018: $8,213,505Net Income 2018: $2,150,8292018Revenue 2019: $10,899,094Expenses 2019: $8,842,554Net Income 2019: $2,056,5402019Revenue 2020: $11,309,058Expenses 2020: $9,643,221Net Income 2020: $1,665,8372020Revenue 2021: $11,959,829Expenses 2021: $8,343,991Net Income 2021: $3,615,8382021Revenue 2022: $12,556,006Expenses 2022: $9,525,692Net Income 2022: $3,030,3142022Revenue 2023: $17,795,248Expenses 2023: $12,527,027Net Income 2023: $5,268,2212023Revenue 2024: $20,758,463Expenses 2024: $16,169,434Net Income 2024: $4,589,0292024

Highlighted filing

2014

Revenue$7,674,136
Expenses$5,921,444
Net Income$1,752,692
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 16, 2015
Return Version
2014v5.0
Gross Receipts
$8,539,135
Mission and Program Overview

Mission

To serve the community and build trusted relationships.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$111,577,295$121,551,402▲ $9,974,107
Investments Other Securities$27,288,953$23,873,833▼ $3,415,120
Rtn Earn Endowment Incm Other Fnds$22,222,470$23,411,950▲ $1,189,480
Investments Program Related$9,346,760$18,948,095▲ $9,601,335
Land, Buildings, and Equipment, Net$6,115,576$8,861,674▲ $2,746,098
Cash and Non-Interest-Bearing Accounts$980,442$1,072,262▲ $91,820
Prepaid Expenses and Deferred Charges$198,200$870,217▲ $672,017
Accounts Receivable$127,074$232,026▲ $104,952
Savings and Temporary Cash Investments$10,907$32,470▲ $21,563
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$160,011,259$179,863,612▲ $19,852,353
Other Assets Total$4,366,052$4,421,633▲ $55,581
Liabilities
Other Liabilities$134,094,947$152,106,580▲ $18,011,633
Accounts Payable and Accrued Expenses$3,693,842$4,345,082▲ $651,240
Total Liabilities$137,788,789$156,451,662▲ $18,662,873
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,222,470$23,411,950▲ $1,189,480
Total Liabilities and Net Assets / Fund Balance$160,011,259$179,863,612▲ $19,852,353

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,766,583$434,867$5,201,450
Land$3,160,238-$3,160,238
Equipment$934,853$410,290$1,345,143
Investment Program Related Org$18,948,095--
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Other Securities$83,950--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen E BrownePresident/CEOFT$140,070$64,663$204,733
Robin WybengaCFOFT$76,801$12,175$88,976

Board Members and Trustees

NameTitle
Kathleen Maisonville-DouglassChairperson
Eric DreierVice Chairperson
Adam BevierDirector
Katherine Walker-TelmaDirector
Robert WitkopDirector
Stephen MertenSecretary
Robert WarnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,751,197
Investment Income
$922,939
Other Revenue
$0
Change in Net Assets
$1,752,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,732,115
Revenue Not Reported on Financial Statements
$-57,979
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-57,979
Total Revenue per Audited Statements
$7,732,115
Total Revenue per Form 990
$7,674,136
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,516,017
Salaries, Compensation, and Employee Benefits$2,405,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,561,880
Office Expenses---$598,468
Interest---$431,346
Occupancy---$315,237
Current Officers, Directors, Trustees, and Key Employees---$293,709
Depreciation Depletion---$233,009
Other Employee Benefits---$222,467
Information Technology---$206,746
Pension Plan Contributions---$181,380
Advertising---$177,621
Payroll Taxes---$145,991
Fees for Services Other---$86,566
Insurance---$80,448
Other Expenses---$43,397
Fees for Services Accounting---$36,839
Conferences and Meetings---$33,135
Travel---$22,235
All Other Expenses---$21,775
Fees for Services Legal---$2,303
Total Functional Expenses$0$0$0$5,921,444

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,980,878
Expenses per Audited Statements$5,921,444
Total Expenses per Form 990$5,921,444
Expenses Not Reported on Form 990$59,434
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$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
Member Shares$152,106,580
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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 are elected by the membership at the Annual Meeting. 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 by-law changes.”

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

“The form 990 is presented at a Board of Directors meeting prior to submission to the IRS.”

Form 990, Part VI, Section B, Line 15

“The Board of Director's Compensation Committee completes a performance appraisal of the President/CEO, annually. Salary increases are based on performance of pre-determined goals and company financial targets. The President/CEO performs annual evaluations of the Chief Financial Officer. Salary increases are based on overall performance. Both review processes were completed in 2014.”

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
Credit Unions Chartered in the State of Michigan
EIN
38-1602298
Phone
2319467090
Address
PO Box 1049, Traverse City, MI 49685-1049

Signing Officer

Name
Karen E Browne
Title
President/CEO
Phone
2319467090
Signed
2015-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen E Browne
Formed
1955
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
45
Volunteers
7

Preparer

Firm
Cindrich Mahalak & Co
Address
31215 Jefferson Ave, St Clair Shores, MI 48082
Preparer
Roy Griffor Jr
Phone
5862961155
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“The Credit Union started offering Remote Deposit Capture and a mobile banking application.”

Form 990, Part XI, Line 9

“Membership Fees 17,166”

Financial Statement Notes

Schedule D, Part XI, Line 4B

“Net Loss on Sale of Premise & Equipment included in income on 990 return -57,978 Rounding 1”

Schedule D, Part XII, Line 2D

“Net Loss on Sale of Premise & Equipment included in income on 990 Return 57,978”

Raw XML AppendixShowing 400 of 489 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
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt03693842
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt04345082
IRS990/AccountsReceivableGrp/BOYAmt0127074
IRS990/AccountsReceivableGrp/EOYAmt0232026
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0To provide financial services to member owners with a common bond.
IRS990/AdvertisingGrp/TotalAmt0177621
IRS990/AllOtherExpensesGrp/TotalAmt021775
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0TBA Credit Union
IRS990/BooksInCareOfDetail/PhoneNum02319467090
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03033 Cedar Valley Drive
IRS990/BooksInCareOfDetail/USAddress/CityNm0Traverse City
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd0496851003
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt0980442
IRS990/CashNonInterestBearingGrp/EOYAmt01072262
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0293709
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/TotalAmt033135
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0922939
IRS990/CYOtherExpensesAmt03516017
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt06751197
IRS990/CYRevenuesLessExpensesAmt01752692
IRS990/CYSalariesCompEmpBnftPaidAmt02405427
IRS990/CYTotalExpensesAmt05921444
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt07674136
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/TotalAmt0233009
IRS990/Desc0Provide 13,942 Members with Regular Savings, Share Drafts, Certificates of Deposit and IRA accounts totaling 26,236.
IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonatedServicesAndUseFcltsAmt00
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt045
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt036839
IRS990/FeesForServicesLegalGrp/TotalAmt02303
IRS990/FeesForServicesOtherGrp/TotalAmt086566
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt740
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt840
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt736202
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt812175
IRS990/Form990PartVIISectionAGrp/PersonNm0Robert Witkop
IRS990/Form990PartVIISectionAGrp/PersonNm1Katherine Walker-Telma
IRS990/Form990PartVIISectionAGrp/PersonNm2Stephen Merten
IRS990/Form990PartVIISectionAGrp/PersonNm3Robert Warner
IRS990/Form990PartVIISectionAGrp/PersonNm4Kathleen Maisonville-Douglass
IRS990/Form990PartVIISectionAGrp/PersonNm5Adam Bevier
IRS990/Form990PartVIISectionAGrp/PersonNm6Eric Dreier
IRS990/Form990PartVIISectionAGrp/PersonNm7Karen E Browne
IRS990/Form990PartVIISectionAGrp/PersonNm8Robin Wybenga
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7168531
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt876801
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt7President/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt8CFO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01955
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0486027
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01351026
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt00
IRS990/GrossReceiptsAmt08539135
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IncmFromInvestBondProceedsGrp/ExclusionAmt00
IRS990/IncmFromInvestBondProceedsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0206746
IRS990/InsuranceGrp/TotalAmt080448
IRS990/InterestGrp/TotalAmt0431346
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0436912
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0436912
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt027288953
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt023873833
IRS990/InvestmentsProgramRelatedGrp/BOYAmt09346760
IRS990/InvestmentsProgramRelatedGrp/EOYAmt018948095
IRS990/IRPDocumentCnt02672
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0845157
IRS990/LandBldgEquipBasisNetGrp/BOYAmt06115576
IRS990/LandBldgEquipBasisNetGrp/EOYAmt08861674
IRS990/LandBldgEquipCostOrOtherBssAmt09706831
IRS990/LegalDomicileStateCd0MI
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0864999
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The Credit Union is committed to serving the community by building trusted relationships, providing customized financial products, advocating financial literacy and encouraging volunteerism.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt022222470
IRS990/NetAssetsOrFundBalancesEOYAmt023411950
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt00
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0486027
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0486027
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt0-41442
IRS990/NetUnrlzdGainsLossesInvstAmt0-580378
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0315237
IRS990/OfficeExpensesGrp/TotalAmt0598468
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt04366052
IRS990/OtherAssetsTotalGrp/EOYAmt04421633
IRS990/OtherChangesInNetAssetsAmt017166
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0222467
IRS990/OtherExpensesGrp/Desc0Loan Servicing
IRS990/OtherExpensesGrp/Desc1Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc2Miscellaneous Expense
IRS990/OtherExpensesGrp/Desc3Examination Fees
IRS990/OtherExpensesGrp/TotalAmt0731934
IRS990/OtherExpensesGrp/TotalAmt1433550
IRS990/OtherExpensesGrp/TotalAmt261408
IRS990/OtherExpensesGrp/TotalAmt343397
IRS990/OtherLiabilitiesGrp/BOYAmt0134094947
IRS990/OtherLiabilitiesGrp/EOYAmt0152106580
IRS990/OtherOrganizationDsc0Credit Union
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt01561880
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0111577295
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0121551402
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0145991
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt0181380
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0198200
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0870217
IRS990/PrincipalOfficerNm0Karen E Browne
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0Loan Interest Income
IRS990/ProgramServiceRevenueGrp/Desc1Fee Income
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05350759
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11355997
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05350759
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11400438
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt144441
IRS990/ProgSrvcAccomActy2Grp/Desc0Provide 10,336 loans including vehicle, overdraft protection, mortgage, home equity, signature, credit card and recreational vehicle loans.
IRS990/ProgSrvcAccomActy3Grp/Desc0Offer automated teller machines, debit cards, money orders, safe deposit boxes, bill payment, travelers checks and various insurance programs.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0381988
IRS990/PYOtherExpensesAmt03150547
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt06757934
IRS990/PYRevenuesLessExpensesAmt01702899
IRS990/PYSalariesCompEmpBnftPaidAmt02286476
IRS990/PYTotalExpensesAmt05437023
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07139922
IRS990/ReconcilationRevenueExpnssAmt01752692
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt022222470
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt023411950
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010907
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032470
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt04766583
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0434867
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05201450
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0934853
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0410290
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01345143
IRS990ScheduleD/ExpensesNotReportedAmt059434
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05921444
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt018948095
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Corporate Credit Unions
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt03160238
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt03160238
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherExpensesIncludedAmt057978
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0152106580
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Shares
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-57979
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt018534000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1423500
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2100
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt35000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt460000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt54767283
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt683950
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Certificates of Deposit
IRS990ScheduleD/OtherSecuritiesGrp/Desc1FHLB Capital Stock
IRS990ScheduleD/OtherSecuritiesGrp/Desc2Co-Op Network Stock
IRS990ScheduleD/OtherSecuritiesGrp/Desc3Xtend Stock
IRS990ScheduleD/OtherSecuritiesGrp/Desc4CU*Answers Investments
IRS990ScheduleD/OtherSecuritiesGrp/Desc5Other Investments
IRS990ScheduleD/OtherSecuritiesGrp/Desc6CUSG Shares
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6C
IRS990ScheduleD/PriorYearAdjustmentsAmt01456
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-57979
IRS990ScheduleD/RevenueSubtotalAmt07732115
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Net Loss on Sale of Premise & Equipment included in income on 990 return -57,978 Rounding 1
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Net Loss on Sale of Premise & Equipment included in income on 990 Return 57,978
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XII, Line 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08861674
IRS990ScheduleD/TotalBookValueProgramRltdAmt018948095
IRS990ScheduleD/TotalBookValueSecuritiesAmt023873833
IRS990ScheduleD/TotalExpensesPerForm990Amt05921444
IRS990ScheduleD/TotalLiabilityAmt0152106580
IRS990ScheduleD/TotalRevenuePerForm990Amt07674136
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07732115
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05980878
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0140070
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount024450
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt013279
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt022923
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt04011
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Karen E Browne
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0204733
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Credit Union started offering Remote Deposit Capture and a mobile banking application.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Credit Union has a single class of members with equal rights of ownership, governance, and voting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors are elected by the membership at the Annual Meeting. Each Board member is elected for a three year term.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Credit Union decisions that are subject to membership approval are by-law changes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The form 990 is presented at a Board of Directors meeting prior to submission to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Director's Compensation Committee completes a performance appraisal of the President/CEO, annually. Salary increases are based on performance of pre-determined goals and company financial targets. The President/CEO performs annual evaluations of the Chief Financial Officer. Salary increases are based on overall performance. Both review processes were completed in 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial Statements are posted in the Credit Union lobby. Other documents and policies are available for review upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Membership Fees 17,166
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$179,863,612
Liabilities
$156,451,662
Net assets
$23,411,950
Revenue
$7,674,136
Expenses
$5,921,444
Net income
$1,752,692
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$369$318$51.2$20.8$16.2$4.59
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$347$300$46.9$17.8$12.5$5.27
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$345$302$42.9$12.6$9.53$3.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$332$293$39.3$12.0$8.34$3.62
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$280$244$35.6$11.3$9.64$1.67
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$231$197$33.8$10.9$8.84$2.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$219$187$31.7$10.4$8.21$2.15
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$205$176$29.6$9.17$7.52$1.65
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$191$163$27.9$8.49$6.65$1.84
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$175$149$26.1$7.69$6.08$1.62
2014Detailed filing. Detailed filing data is available for this year.$180$156$23.4$7.67$5.92$1.75
2013Detailed filing. Detailed filing data is available for this year.$160$138$22.2$7.14$5.44$1.70
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$159$139$20.5$5.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$129$18.2$5.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$140$124$15.3$6.89
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)14 • $100M-$250M nonprofits