Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2021 • EIN 38-1614337

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 13, 2022

Organization ProfileWWW.WESTMICHIGANCU.COM

View Organization Page

201 36th Street SEGrand Rapids, MI 49548-2213

(616) 451-4567

Siviq Scores

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

Liabilities / Assets

28th percentile

0.86x

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

2021 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

68th percentile

28.39x

Higher debt load relative to revenue than 68% of similar nonprofits.

2021 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2021

Net Margin

2nd percentile

-40%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

58th percentile

$107,650

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2021 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2021

Asset Growth

57th percentile

9.7%

Faster asset growth than 57% of similar nonprofits.

2021 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

29th percentile

-7.1%

Faster revenue growth than 29% of similar nonprofits.

2021 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$49,763,359

Up $4,415,105 (+9.7%) from 2020

Net Assets

Up

$7,036,406

Up $141,411 (+2.1%) from 2020

Liabilities

Up

$42,726,953

Up $4,273,694 (+11%) from 2020

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin2nd percentile

Revenue

Down

$1,504,918

Down $114,859 (-7.1%) from 2020

Expenses

Up

$2,107,827

Up $437,134 (+26%) from 2020

Net Income

Down

-$602,909

Down $551,993 (-1084%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$60M$40M$20M$0Assets 2010: $34,381,563Liabilities 2010: $28,599,909Net Assets 2010: $5,781,6542010Assets 2011: $36,032,772Liabilities 2011: $30,151,761Net Assets 2011: $5,881,0112011Assets 2012: $37,018,507Liabilities 2012: $30,289,352Net Assets 2012: $6,729,1552012Assets 2013: $36,250,028Liabilities 2013: $29,813,985Net Assets 2013: $6,436,0432013Assets 2014: $35,273,247Liabilities 2014: $28,223,062Net Assets 2014: $7,050,1852014Assets 2015: $38,440,381Liabilities 2015: $31,790,174Net Assets 2015: $6,650,2072015Assets 2016: $39,088,682Liabilities 2016: $32,311,216Net Assets 2016: $6,777,4662016Assets 2017: $39,522,426Liabilities 2017: $32,846,400Net Assets 2017: $6,676,0262017Assets 2018: $39,057,694Liabilities 2018: $32,572,121Net Assets 2018: $6,485,5732018Assets 2019: $39,081,227Liabilities 2019: $32,186,356Net Assets 2019: $6,894,8712019Assets 2020: $45,348,254Liabilities 2020: $38,453,259Net Assets 2020: $6,894,9952020Assets 2021: $49,763,359Liabilities 2021: $42,726,953Net Assets 2021: $7,036,4062021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2021

Assets$49,763,359
Liabilities$42,726,953
Net Assets$7,036,406
Open 2021 Filing

Operations Trend

Revenue Growth29th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,832,7732010Expenses 2011: $1,701,8792011Expenses 2012: $1,575,6692012Revenue 2013: $1,769,649Expenses 2013: $1,624,540Net Income 2013: $145,1092013Revenue 2014: $2,052,554Expenses 2014: $1,473,222Net Income 2014: $579,3322014Revenue 2015: $1,628,233Expenses 2015: $1,499,794Net Income 2015: $128,4392015Revenue 2016: $1,618,059Expenses 2016: $1,499,328Net Income 2016: $118,7312016Revenue 2017: $1,728,913Expenses 2017: $1,623,172Net Income 2017: $105,7412017Revenue 2018: $1,849,922Expenses 2018: $1,727,980Net Income 2018: $121,9422018Revenue 2019: $1,877,971Expenses 2019: $1,768,465Net Income 2019: $109,5062019Revenue 2020: $1,619,777Expenses 2020: $1,670,693Net Income 2020: -$50,9162020Revenue 2021: $1,504,918Expenses 2021: $2,107,827Net Income 2021: -$602,9092021Revenue 2022: $354,149Expenses 2022: $714,071Net Income 2022: -$359,9222022

Highlighted filing

2021

Revenue$1,504,918
Expenses$2,107,827
Net Income-$602,909
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 13, 2022
Return Version
2021v4.0
Gross Receipts
$1,504,918
Mission and Program Overview

Mission

Organized and operated without profit for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$17,932,153$25,597,922▲ $7,665,769
Other Notes and Loans Receivable, Net$16,187,448$13,672,134▼ $2,515,314
Investments in Publicly Traded Securities$10,403,858$9,652,810▼ $751,048
Rtn Earn Endowment Incm Other Fnds$6,894,995$7,036,406▲ $141,411
Investments Other Securities$206,300$206,300→ $0
Land, Buildings, and Equipment, Net$200,943$161,237▼ $39,706
Total Assets$45,348,254$49,763,359▲ $4,415,105
Other Assets Total$417,552$472,956▲ $55,404
Liabilities
Other Liabilities$37,713,420$42,713,710▲ $5,000,290
Accounts Payable and Accrued Expenses$739,839$13,243▼ $726,596
Total Liabilities$38,453,259$42,726,953▲ $4,273,694
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,894,995$7,036,406▲ $141,411
Total Liabilities and Net Assets / Fund Balance$45,348,254$49,763,359▲ $4,415,105

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$129,844-$129,844
Equipment$31,393-$31,393
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
David T KeimCEOFT$107,650$107,650
Terri NieuwkoopCOOFT$65,539$65,539

Board Members and Trustees

NameTitle
David ZawackiChairman
Steve KenyonVice Chairma
Joseph CoutureDirector
Laura BrownDirector
Michael HardimanDirector
Scott CollinsDirector
Edward BesemerSecretary
Gail AndersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$402,557
Investment Income
$1,102,361
Other Revenue
$0
Change in Net Assets
$-602,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,320,128
Other Expenses$787,699
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,320,128
Office Expenses---$213,074
Fees for Services Other---$202,305
Occupancy---$121,984
Interest---$95,553
All Other Expenses---$11,273
Other Expenses---$11,121
Total Functional Expenses$0$0$0$2,107,827
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
Total Shares & Deposits$42,713,710
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

Form 990, Page 6, Part VI, Line 5

“The credit union closed its defined benefit plan.”

Form 990, Page 6, Part VI, Line 6

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

Form 990, Page 6, Part VI, Line 7A

“Members are the owners of the credit union and they elect their board of directors in a democratic one-person-one-vote system regardless of the amount of money invested in the credit union.”

Form 990, Page 6, Part VI, Line 7B

“Day-to-day operations are managed by the ceo. The monitoring and oversight of the officers and approval of key policies, such as interest rates, services, etc. Are established by the board. The members vote in the board and only vote on major issues, such as changes in the charter or structure of the credit union.”

Form 990, Page 6, Part VI, Line 11B

“Ceo performs review of form 990s.”

Form 990, Page 6, Part VI, Line 12C

“On annual basis, employees and board members are required to complete and sign a statement detailing any potential conflicts of interest or any actions taken that fall under the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors is responsible for reviewing job performance and establishing compensation levels for the ceo.”

Form 990, Page 6, Part VI, Line 15B

“The board of directors with assistance from the ceo is responsible for reviewing job performance and establishing compensation levels for the other key officer(s).”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Western Districts Members
EIN
38-1614337
Phone
6164514567
Address
201 36TH STREET SE, GRAND RAPIDS, MI 49548-2213

Signing Officer

Name
David T Keim
Title
CEO
Phone
6164514567
Signed
2022-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David T Keim
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
2,751
Employees
14
Volunteers
8

Preparer

Firm
Schmidt Koning Villarreal & Assoc LLC
Address
750 FRONT AVE NW SUITE 315, GRAND RAPIDS, MI 49504-4400
Preparer
Miles V Schmidt CPA
Phone
6167420400
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Please review website at www.westmichigancu.com”

Form 990, Part XI, Line 9

“Other comprehensive income/afs unrealized gains 744,320”

Raw XML Appendix330 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/TitleTxt7DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PLEASE REVIEW WEBSITE AT WWW.WESTMICHIGANCU.COM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION CLOSED ITS DEFINED BENEFIT PLAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE, AND VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS ARE THE OWNERS OF THE CREDIT UNION AND THEY ELECT THEIR BOARD OF DIRECTORS IN A DEMOCRATIC ONE-PERSON-ONE-VOTE SYSTEM REGARDLESS OF THE AMOUNT OF MONEY INVESTED IN THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DAY-TO-DAY OPERATIONS ARE MANAGED BY THE CEO. THE MONITORING AND OVERSIGHT OF THE OFFICERS AND APPROVAL OF KEY POLICIES, SUCH AS INTEREST RATES, SERVICES, ETC. ARE ESTABLISHED BY THE BOARD. THE MEMBERS VOTE IN THE BOARD AND ONLY VOTE ON MAJOR ISSUES, SUCH AS CHANGES IN THE CHARTER OR STRUCTURE OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CEO PERFORMS REVIEW OF FORM 990S.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ON ANNUAL BASIS, EMPLOYEES AND BOARD MEMBERS ARE REQUIRED TO COMPLETE AND SIGN A STATEMENT DETAILING ANY POTENTIAL CONFLICTS OF INTEREST OR ANY ACTIONS TAKEN THAT FALL UNDER THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING JOB PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE BOARD OF DIRECTORS WITH ASSISTANCE FROM THE CEO IS RESPONSIBLE FOR REVIEWING JOB PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE OTHER KEY OFFICER(S).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10OTHER COMPREHENSIVE INCOME/AFS UNREALIZED GAINS 744,320
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt045348254
IRS990/TotalAssetsEOYAmt049763359
IRS990/TotalAssetsGrp/BOYAmt045348254
IRS990/TotalAssetsGrp/EOYAmt049763359
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02107827
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt038453259
IRS990/TotalLiabilitiesEOYAmt042726953
IRS990/TotalLiabilitiesGrp/BOYAmt038453259
IRS990/TotalLiabilitiesGrp/EOYAmt042726953
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06894995
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07036406
IRS990/TotalProgramServiceRevenueAmt0402557
IRS990/TotalReportableCompFromOrgAmt0173189
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01504918
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01504918
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt045348254
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt049763359
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07636 APPLE HILL CT SE
IRS990/USAddress/CityNm0ADA
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd0493019323
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt02751
IRS990/WebsiteAddressTxt0WWW.WESTMICHIGANCU.COM
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID T KEIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06164514567
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTERN DISTRICTS MEMBERS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0WEST
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ReturnHeader/Filer/PhoneNum06164514567
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 36TH STREET SE
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd0495482213
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383581667
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHMIDT KONING VILLARREAL & ASSOC LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0750 FRONT AVE NW SUITE 315
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0495044400
ReturnHeader/PreparerPersonGrp/PhoneNum06167420400
ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MILES V SCHMIDT CPA
ReturnHeader/ReturnTs02022-09-13T13:30:11-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAVID T
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KEIM
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,763,359
Liabilities
$42,726,953
Net assets
$7,036,406
Revenue
$1,504,918
Expenses
$2,107,827
Net income
-$602,909
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.35$0.71$0.36
2021Detailed filing. Detailed filing data is available for this year.$49.8$42.7$7.04$1.50$2.11$0.60
2020Detailed filing. Detailed filing data is available for this year.$45.3$38.5$6.89$1.62$1.67$0.05
2019Detailed filing. Detailed filing data is available for this year.$39.1$32.2$6.89$1.88$1.77$0.11
2018Detailed filing. Detailed filing data is available for this year.$39.1$32.6$6.49$1.85$1.73$0.12
2017Detailed filing. Detailed filing data is available for this year.$39.5$32.8$6.68$1.73$1.62$0.11
2016Detailed filing. Detailed filing data is available for this year.$39.1$32.3$6.78$1.62$1.50$0.12
2015Detailed filing. Detailed filing data is available for this year.$38.4$31.8$6.65$1.63$1.50$0.13
2014Detailed filing. Detailed filing data is available for this year.$35.3$28.2$7.05$2.05$1.47$0.58
2013Detailed filing. Detailed filing data is available for this year.$36.3$29.8$6.44$1.77$1.62$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.0$30.3$6.73$1.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.0$30.2$5.88$1.70
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.4$28.6$5.78$1.83