Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2012 • EIN 38-1719216

Jan 01, 2012 to Dec 31, 2012 • Filed on Feb 19, 2013

Organization Profilewww.firstareacu.com

View Organization Page

193 Campbell Lane48609
Siviq Scores

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

Liabilities / Assets

58th percentile

0.89x

Higher debt load relative to assets than 58% of similar nonprofits.

2012 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

27th percentile

1.2%

Faster asset growth than 27% of similar nonprofits.

2012 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$26,508,753

Up $307,184 (+1.2%) from 2011

Net Assets

Up

$2,972,973

Up $195,439 (+7.0%) from 2011

Liabilities

Up

$23,535,780

Up $111,745 (+0.5%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$1,062,722

Up $20,045 (+1.9%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$60M$40M$20M$0Assets 2010: $24,984,493Liabilities 2010: $22,398,174Net Assets 2010: $2,586,3192010Assets 2011: $26,201,569Liabilities 2011: $23,424,035Net Assets 2011: $2,777,5342011Assets 2012: $26,508,753Liabilities 2012: $23,535,780Net Assets 2012: $2,972,9732012Assets 2013: $28,075,070Liabilities 2013: $24,958,938Net Assets 2013: $3,116,1322013Assets 2014: $27,733,904Liabilities 2014: $24,518,256Net Assets 2014: $3,215,6482014Assets 2015: $28,633,332Liabilities 2015: $25,319,105Net Assets 2015: $3,314,2272015Assets 2016: $29,716,297Liabilities 2016: $26,358,064Net Assets 2016: $3,358,2332016Assets 2017: $29,873,172Liabilities 2017: $26,484,199Net Assets 2017: $3,388,9732017Assets 2018: $30,180,529Liabilities 2018: $26,794,678Net Assets 2018: $3,385,8512018Assets 2019: $30,454,906Liabilities 2019: $26,762,717Net Assets 2019: $3,692,1892019Assets 2020: $38,389,981Liabilities 2020: $34,551,916Net Assets 2020: $3,838,0652020Assets 2021: $44,790,042Liabilities 2021: $41,406,939Net Assets 2021: $3,383,1032021Assets 2022: $44,580,717Liabilities 2022: $42,647,272Net Assets 2022: $1,933,4452022Assets 2023: $41,370,226Liabilities 2023: $39,004,600Net Assets 2023: $2,365,6262023Assets 2024: $40,090,569Liabilities 2024: $37,407,336Net Assets 2024: $2,683,2332024

Highlighted filing

2012

Assets$26,508,753
Liabilities$23,535,780
Net Assets$2,972,973
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,187,3542010Expenses 2011: $1,042,6772011Expenses 2012: $1,062,7222012Revenue 2013: $1,211,176Expenses 2013: $1,039,596Net Income 2013: $171,5802013Revenue 2014: $1,171,897Expenses 2014: $1,055,066Net Income 2014: $116,8312014Revenue 2015: $1,219,660Expenses 2015: $1,139,928Net Income 2015: $79,7322015Revenue 2016: $1,305,473Expenses 2016: $1,223,397Net Income 2016: $82,0762016Revenue 2017: $1,409,544Expenses 2017: $1,383,193Net Income 2017: $26,3512017Revenue 2018: $1,485,590Expenses 2018: $1,375,981Net Income 2018: $109,6092018Revenue 2019: $1,530,202Expenses 2019: $1,435,962Net Income 2019: $94,2402019Revenue 2020: $1,408,913Expenses 2020: $1,333,451Net Income 2020: $75,4622020Revenue 2021: $1,377,061Expenses 2021: $1,369,209Net Income 2021: $7,8522021Revenue 2022: $1,424,449Expenses 2022: $1,267,614Net Income 2022: $156,8352022Revenue 2023: $1,583,444Expenses 2023: $1,508,250Net Income 2023: $75,1942023Revenue 2024: $1,753,671Expenses 2024: $1,824,125Net Income 2024: -$70,4542024

Highlighted filing

2012

Revenue-
Expenses$1,062,722
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Feb 19, 2013
Return Version
2012v2.0
Gross Receipts
$1,269,947
Mission and Program Overview

Mission

Provide financial services and products to members.

Major Activities

Activity 2
The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2012 was 1,638.
Filing and Contact Details

Filer

EIN
38-1719216
Raw XML AppendixShowing 400 of 415 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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IRS990ScheduleO/GeneralExplanation/Explanation0Credit union bylaws and conflict of interest policy are available upon request at the credit union's main office. Quarterly financial statements are displayed in the lobby which is accessible to the general public. Quarterly financial performance (Call) reports are also available at www.ncua.gov for all federally insured credit unions.
IRS990ScheduleO/GeneralExplanation/Explanation1Executive and employee salaries are Board reviewed and approved. Board of directors are not compensated.
IRS990ScheduleO/GeneralExplanation/Explanation2Employee loans are Management approved. Management loans are Board approved. Loans to Board members are approved by the Board minus the lendee.
IRS990ScheduleO/GeneralExplanation/Explanation3Management reviews tax returns and forwards US Form 8879-EO to tax preparer. Board reviews filed tax returns at next scheduled meeting.
IRS990ScheduleO/GeneralExplanation/Explanation4Mergers are voted on by entire membership.
IRS990ScheduleO/GeneralExplanation/Explanation5Members vote on bylaw and charter changes. Members vote and elect Board members at annual meeting.
IRS990ScheduleO/GeneralExplanation/Explanation6Section 501c(14) Credit Union is composed of members.
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IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 12c
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Line 11b
IRS990ScheduleO/GeneralExplanation/Identifier4Form 990, Part VI, Line 7b
IRS990ScheduleO/GeneralExplanation/Identifier5Form 990, Part VI, Line 7a
IRS990ScheduleO/GeneralExplanation/Identifier6Form 990, Part VI, Line 6
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
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IRS990/UponRequest0X
IRS990/WebSite0www.firstareacu.com
IRS990/WhistleblowerPolicy0false
IRS990/YearFormation01961
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/Filer/EIN0381719216
ReturnHeader/Filer/Name/BusinessNameLine10First Area Credit Union
ReturnHeader/Filer/NameControl0FIRS
ReturnHeader/Filer/Phone09897811430
ReturnHeader/Filer/USAddress/AddressLine10193 Campbell Lane
ReturnHeader/Filer/USAddress/City0Saginaw
ReturnHeader/Filer/USAddress/State0MI
ReturnHeader/Filer/USAddress/ZIPCode048609
ReturnHeader/Officer/AuthorizeThirdParty0true

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$26,508,753
Liabilities
$23,535,780
Net assets
$2,972,973
Revenue
-
Expenses
$1,062,722
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$40.1$37.4$2.68$1.75$1.82$0.07
2023Detailed filing. Detailed filing data is available for this year.$41.4$39.0$2.37$1.58$1.51$0.08
2022Detailed filing. Detailed filing data is available for this year.$44.6$42.6$1.93$1.42$1.27$0.16
2021Detailed filing. Detailed filing data is available for this year.$44.8$41.4$3.38$1.38$1.37$0.01
2020Detailed filing. Detailed filing data is available for this year.$38.4$34.6$3.84$1.41$1.33$0.08
2019Detailed filing. Detailed filing data is available for this year.$30.5$26.8$3.69$1.53$1.44$0.09
2018Detailed filing. Detailed filing data is available for this year.$30.2$26.8$3.39$1.49$1.38$0.11
2017Detailed filing. Detailed filing data is available for this year.$29.9$26.5$3.39$1.41$1.38$0.03
2016Detailed filing. Detailed filing data is available for this year.$29.7$26.4$3.36$1.31$1.22$0.08
2015Detailed filing. Detailed filing data is available for this year.$28.6$25.3$3.31$1.22$1.14$0.08
2014Detailed filing. Detailed filing data is available for this year.$27.7$24.5$3.22$1.17$1.06$0.12
2013Detailed filing. Detailed filing data is available for this year.$28.1$25.0$3.12$1.21$1.04$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.5$23.5$2.97$1.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.2$23.4$2.78$1.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$22.4$2.59$1.19