Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2019 • EIN 38-1627377

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 17, 2020

Organization Profilewww.harborlightcu.org
2151 Cogswell DriveWhitehall, MI 49461

(231) 894-5608

Siviq Scores

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

Liabilities / Assets

77th percentile

0.91x

Higher debt load relative to assets than 77% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

48th percentile

16.16x

Higher debt load relative to revenue than 48% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Net Margin

19th percentile

6.8%

Higher net margin than 19% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

15th percentile

$146,178

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2019

Asset Growth

70th percentile

6.3%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

77th percentile

12%

Faster revenue growth than 77% of similar nonprofits.

2019 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$117,026,310

Up $6,962,041 (+6.3%) from 2018

Net Assets

Up

$11,042,173

Up $511,330 (+4.9%) from 2018

Liabilities

Up

$105,984,137

Up $6,450,711 (+6.5%) from 2018

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin19th percentile

Revenue

Up

$6,558,237

Up $718,220 (+12%) from 2018

Expenses

Up

$6,114,575

Up $346,123 (+6.0%) from 2018

Net Income

Up

$443,662

Up $372,097 (+520%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$200M$150M$100M$50M$0Assets 2010: $82,331,692Liabilities 2010: $71,973,684Net Assets 2010: $10,358,0082010Assets 2011: $83,982,723Liabilities 2011: $73,917,650Net Assets 2011: $10,065,0732011Assets 2012: $85,622,331Liabilities 2012: $75,331,130Net Assets 2012: $10,291,2012012Assets 2013: $90,138,838Liabilities 2013: $80,236,877Net Assets 2013: $9,901,9612013Assets 2014: $92,731,726Liabilities 2014: $82,716,483Net Assets 2014: $10,015,2432014Assets 2015: $93,815,006Liabilities 2015: $83,637,527Net Assets 2015: $10,177,4792015Assets 2016: $100,708,944Liabilities 2016: $90,182,366Net Assets 2016: $10,526,5782016Assets 2017: $105,873,017Liabilities 2017: $95,400,463Net Assets 2017: $10,472,5542017Assets 2018: $110,064,269Liabilities 2018: $99,533,426Net Assets 2018: $10,530,8432018Assets 2019: $117,026,310Liabilities 2019: $105,984,137Net Assets 2019: $11,042,1732019Assets 2020: $141,924,533Liabilities 2020: $130,619,096Net Assets 2020: $11,305,4372020Assets 2021: $159,134,723Liabilities 2021: $147,164,822Net Assets 2021: $11,969,9012021Assets 2022: $169,930,532Liabilities 2022: $157,714,894Net Assets 2022: $12,215,6382022Assets 2023: $154,862,707Liabilities 2023: $140,267,851Net Assets 2023: $14,594,8562023Assets 2024: $157,142,997Liabilities 2024: $140,976,459Net Assets 2024: $16,166,5382024

Highlighted filing

2019

Assets$117,026,310
Liabilities$105,984,137
Net Assets$11,042,173
Open 2019 Filing

Operations Trend

Revenue Growth77th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $4,905,1492010Expenses 2011: $4,590,7162011Expenses 2012: $4,065,9992012Revenue 2013: $4,033,429Expenses 2013: $4,103,615Net Income 2013: -$70,1862013Revenue 2014: $4,057,056Expenses 2014: $4,106,579Net Income 2014: -$49,5232014Revenue 2015: $4,386,955Expenses 2015: $4,222,976Net Income 2015: $163,9792015Revenue 2016: $4,941,122Expenses 2016: $4,549,093Net Income 2016: $392,0292016Revenue 2017: $5,116,345Expenses 2017: $5,197,948Net Income 2017: -$81,6032017Revenue 2018: $5,840,017Expenses 2018: $5,768,452Net Income 2018: $71,5652018Revenue 2019: $6,558,237Expenses 2019: $6,114,575Net Income 2019: $443,6622019Revenue 2020: $6,422,924Expenses 2020: $6,233,159Net Income 2020: $189,7652020Revenue 2021: $6,554,490Expenses 2021: $5,845,336Net Income 2021: $709,1542021Revenue 2022: $7,219,078Expenses 2022: $6,395,474Net Income 2022: $823,6042022Revenue 2023: $8,649,191Expenses 2023: $7,399,927Net Income 2023: $1,249,2642023Revenue 2024: $9,882,520Expenses 2024: $8,467,512Net Income 2024: $1,415,0082024

Highlighted filing

2019

Revenue$6,558,237
Expenses$6,114,575
Net Income$443,662
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 17, 2020
Return Version
2019v5.0
Gross Receipts
$6,558,237
Mission and Program Overview

Mission

Harborlight credit union exists to improve the financial well-being of our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$60,527,009$70,646,119▲ $10,119,110
Investments Program Related$22,993,700$20,288,700▼ $2,705,000
Savings and Temporary Cash Investments$15,572,763$14,931,548▼ $641,215
Rtn Earn Endowment Incm Other Fnds$10,530,843$11,042,173▲ $511,330
Land, Buildings, and Equipment, Net$2,943,474$2,869,851▼ $73,623
Investments in Publicly Traded Securities$2,743,361$2,538,156▼ $205,205
Cash and Non-Interest-Bearing Accounts$1,626,398$1,943,374▲ $316,976
Prepaid Expenses and Deferred Charges$121,771$100,483▼ $21,288
Accounts Receivable-$3,379-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$110,064,269$117,026,310▲ $6,962,041
Other Assets Total$3,535,793$3,704,700▲ $168,907
Liabilities
Other Liabilities$99,072,627$104,341,855▲ $5,269,228
Accounts Payable and Accrued Expenses$308,132$1,315,508▲ $1,007,376
Escrow Account Liability$152,667$326,774▲ $174,107
Total Liabilities$99,533,426$105,984,137▲ $6,450,711
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,530,843$11,042,173▲ $511,330
Total Liabilities and Net Assets / Fund Balance$110,064,269$117,026,310▲ $6,962,041

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,397,374$1,182,018$3,579,392
Equipment$299,125$632,002$931,127
Land$173,352-$173,352
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Justin BamfordCEOFT$119,935$26,243$146,178
Barbara BlairCFOFT$58,177$9,393$67,570
Donna VangeisonCLO-$8,370$1,020$9,390

Board Members and Trustees

NameTitle
Allen RantChairperson
Steven MayberryVice Chair
Larry GoldnerDirector
Lee AndrewsDirector
Steven SalterDirector
Rita KoshebaSecretary
Sharon SwaningerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservCore Processor/Card Proc75 Remittance Dr, Chicago, IL 60675$1,322,716
John M FloydCourtesy Pay125 N Burnet Dr, Baytown, TX 77520$156,764
Kasasa by BanVuerewards checking programPO Box 527, Lubbock, TX 79408$123,986
Revenue and Support

Revenue Composition

Contributions and Grants
$2,000
Program Service Revenue
$5,565,134
Investment Income
$991,103
Other Revenue
$0
Change in Net Assets
$443,662
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,337,168
Salaries, Compensation, and Employee Benefits$1,777,407
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,186,004
Interest---$750,390
Information Technology---$534,503
Fees for Services Other---$402,448
Office Expenses---$330,665
Current Officers, Directors, Trustees, and Key Employees---$223,138
Advertising---$194,713
Depreciation Depletion---$176,924
Other Employee Benefits---$172,934
Occupancy---$120,450
Payroll Taxes---$109,422
Pension Plan Contributions---$85,909
Conferences and Meetings---$77,825
Insurance---$63,592
Other Expenses---$54,599
All Other Expenses---$45,265
Total Functional Expenses$0$0$0$6,114,575
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares & Deposits$104,668,629
Escrow Balances to Line 21 Bal Sheet$-326,774
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“The organization has members. To be a member one must have a share (savings) account at the Credit Union.”

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

“The Board of Directors is elected by the Credit Union members. Each member has one vote.”

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

“A member vote is required for decisions which are beyond the authority of the Board of Directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

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

“Management provides data to independent CPA to prepare the return. Management reviews the return for accuracy, and then authorizes the CPA to e-file the approved return. Management reviews the return with the Directors at the next Board meeting.”

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

“Policy read and acknowledged annually by signing and are returned to CEO.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors is provided CUNA salary survey information for the CEO position. The board reviews the CEO compensation at the annual wage meeting and determines the CEO compensation. The Board decision to approve updated compensation is noted inthe Board minutes.”

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

“Key employee compensation is determined by the CEO and CFO using the CUNA salary survey to determine wage brackets for each position. The Board of Directors approves the updated compensation.”

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

“Governing documents and policies are available upon request. Financial statements are posted in the lobby.”

Filing and Contact Details

Filer

Filer Name
HarborLight Credit Union
EIN
38-1627377
Phone
2318945608
Address
2151 Cogswell Drive, Whitehall, MI 49461

Signing Officer

Name
Justin Bamford
Title
CEO
Signed
2020-07-17
Discuss with paid preparer
Yes

Organization Details

Formed
1954
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
51
Volunteers
9

Preparer

Firm
Financial Standards Group Inc
Address
6447 W HIGHWAY 146, CRESTWOOD, KY 40014
Preparer
Robert Draeger
Phone
8005225820
Supplemental Narrative

Additional Explanations

Part IV, Line 2B - Escrow Liability Arragement Explanation

“The Credit Union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.”

Raw XML AppendixShowing 400 of 444 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/InsuranceGrp/TotalAmt063592
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IRS990/InterestGrp/TotalAmt0750390
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IRS990/IRPDocumentCnt02444
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt02943474
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02869851
IRS990/LandBldgEquipCostOrOtherBssAmt04683871
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0HarborLight Credit Union exists to improve the financial well-being of our members.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt010530843
IRS990/NetAssetsOrFundBalancesEOYAmt011042173
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt0-100
IRS990/NetUnrlzdGainsLossesInvstAmt067668
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0120450
IRS990/OfficeExpensesGrp/TotalAmt0330665
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03535793
IRS990/OtherAssetsTotalGrp/EOYAmt03704700
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0172934
IRS990/OtherExpensesGrp/Desc0Loan Servicing Expense
IRS990/OtherExpensesGrp/Desc1ATM Transaction fees
IRS990/OtherExpensesGrp/Desc2Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc3Postage and Shipping
IRS990/OtherExpensesGrp/TotalAmt0781051
IRS990/OtherExpensesGrp/TotalAmt1474191
IRS990/OtherExpensesGrp/TotalAmt2330552
IRS990/OtherExpensesGrp/TotalAmt354599
IRS990/OtherLiabilitiesGrp/BOYAmt099072627
IRS990/OtherLiabilitiesGrp/EOYAmt0104341855
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt01186004
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt060527009
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt070646119
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0109422
IRS990/PensionPlanContributionsGrp/TotalAmt085909
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0121771
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0100483
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/Desc0Ancillary loan products
IRS990/ProgramServiceRevenueGrp/Desc1Interchange Income
IRS990/ProgramServiceRevenueGrp/Desc2Interest on Loans
IRS990/ProgramServiceRevenueGrp/Desc3Member Fee Income
IRS990/ProgramServiceRevenueGrp/Desc4Other Mbr Related Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0164187
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13607353
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21562197
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3186881
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt018330
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1164187
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23607353
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31562197
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4186881
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt018330
IRS990/ProgSrvcAccomActy2Grp/Desc0The Credit Union has several types of loan programs available for our members. We funded 1,567 new loans to our members during 2019. As of 12/31/2019 we had 6,672 loans to our members.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03000
IRS990/PYInvestmentIncomeAmt0842642
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt03986918
IRS990/PYOtherRevenueAmt017016
IRS990/PYProgramServiceRevenueAmt04980359
IRS990/PYRevenuesLessExpensesAmt071565
IRS990/PYSalariesCompEmpBnftPaidAmt01778534
IRS990/PYTotalExpensesAmt05768452
IRS990/PYTotalRevenueAmt05840017
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0443662
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt010530843
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011042173
IRS990/SavingsAndTempCashInvstGrp/BOYAmt015572763
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014931548
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02397374
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01182018
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03579392
IRS990ScheduleD/EquipmentGrp/BookValueAmt0299125
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0632002
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0931127
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0173352
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0173352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-326774
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1104668629
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Escrow Balances to Line 21 Bal Sheet
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares & Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02869851
IRS990ScheduleD/TotalBookValueProgramRltdAmt020288700
IRS990ScheduleD/TotalLiabilityAmt0104341855
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt08370
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt0670
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt0350
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Donna Vangeison
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CLO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt09390
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has members. To be a member one must have a share (savings) account at the Credit Union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board of Directors is elected by the Credit Union members. Each member has one vote.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A member vote is required for decisions which are beyond the authority of the Board of Directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management provides data to independent CPA to prepare the return. Management reviews the return for accuracy, and then authorizes the CPA to e-file the approved return. Management reviews the return with the Directors at the next Board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Policy read and acknowledged annually by signing and are returned to CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors is provided CUNA salary survey information for the CEO position. The board reviews the CEO compensation at the annual wage meeting and determines the CEO compensation. The Board decision to approve updated compensation is noted inthe Board minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Key employee compensation is determined by the CEO and CFO using the CUNA salary survey to determine wage brackets for each position. The Board of Directors approves the updated compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Governing documents and policies are available upon request. Financial statements are posted in the lobby.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The Credit Union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Part IV, Line 2b - Escrow Liability Arragement Explanation
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0110064269
IRS990/TotalAssetsEOYAmt0117026310
IRS990/TotalAssetsGrp/BOYAmt0110064269
IRS990/TotalAssetsGrp/EOYAmt0117026310
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02000
IRS990/TotalEmployeeCnt051
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06114575
IRS990/TotalGrossUBIAmt044516
IRS990/TotalLiabilitiesBOYAmt099533426
IRS990/TotalLiabilitiesEOYAmt0105984137
IRS990/TotalLiabilitiesGrp/BOYAmt099533426
IRS990/TotalLiabilitiesGrp/EOYAmt0105984137
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010530843
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt011042173
IRS990/TotalOtherCompensationAmt036656
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt026186
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt026186
IRS990/TotalProgramServiceRevenueAmt05565134
IRS990/TotalReportableCompFromOrgAmt0186482

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$117,026,310
Liabilities
$105,984,137
Net assets
$11,042,173
Revenue
$6,558,237
Expenses
$6,114,575
Net income
$443,662
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$157$141$16.2$9.88$8.47$1.42
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$140$14.6$8.65$7.40$1.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$170$158$12.2$7.22$6.40$0.82
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$159$147$12.0$6.55$5.85$0.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$142$131$11.3$6.42$6.23$0.19
2019Detailed filing. Detailed filing data is available for this year.$117$106$11.0$6.56$6.11$0.44
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$110$99.5$10.5$5.84$5.77$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$95.4$10.5$5.12$5.20$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$101$90.2$10.5$4.94$4.55$0.39
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$93.8$83.6$10.2$4.39$4.22$0.16
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$92.7$82.7$10.0$4.06$4.11$0.05
2013Detailed filing. Detailed filing data is available for this year.$90.1$80.2$9.90$4.03$4.10$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.6$75.3$10.3$4.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.0$73.9$10.1$4.59
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.3$72.0$10.4$4.91
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