Civic Intelligence

Credit Unions Chartered in the State of Michigan My Personal Credit Union

990 • Fiscal year 2020 • EIN 38-1907619

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profilewww.mpcu.org
1414 Burton Street SWWyoming, MI 49509

(616) 452-2161

Siviq Scores

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

Liabilities / Assets

74th percentile

0.91x

Higher debt load relative to assets than 74% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

44th percentile

19.34x

Higher debt load relative to revenue than 44% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Net Margin

53rd percentile

11%

Higher net margin than 53% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

39th percentile

$196,915

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Asset Growth

52nd percentile

17%

Faster asset growth than 52% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

67th percentile

0.8%

Faster revenue growth than 67% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$168,894,673

Up $25,056,973 (+17%) from 2019

Net Assets

Up

$14,912,206

Up $999,256 (+7.2%) from 2019

Liabilities

Up

$153,982,467

Up $24,057,717 (+19%) from 2019

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin53rd percentile

Revenue

Up

$7,960,128

Up $66,227 (+0.8%) from 2019

Expenses

Up

$7,120,828

Up $325,997 (+4.8%) from 2019

Net Income

Down

$839,300

Down $259,770 (-24%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$200M$150M$100M$50M$0Assets 2010: $100,096,783Liabilities 2010: $91,887,392Net Assets 2010: $8,209,3912010Assets 2011: $101,498,515Liabilities 2011: $92,874,184Net Assets 2011: $8,624,3312011Assets 2012: $107,095,140Liabilities 2012: $97,543,994Net Assets 2012: $9,551,1462012Assets 2013: $109,534,232Liabilities 2013: $100,155,789Net Assets 2013: $9,378,4432013Assets 2014: $116,982,658Liabilities 2014: $106,841,680Net Assets 2014: $10,140,9782014Assets 2015: $121,488,520Liabilities 2015: $110,686,336Net Assets 2015: $10,802,1842015Assets 2016: $127,870,566Liabilities 2016: $116,590,429Net Assets 2016: $11,280,1372016Assets 2017: $132,998,684Liabilities 2017: $121,618,739Net Assets 2017: $11,379,9452017Assets 2018: $138,265,678Liabilities 2018: $126,051,575Net Assets 2018: $12,214,1032018Assets 2019: $143,837,700Liabilities 2019: $129,924,750Net Assets 2019: $13,912,9502019Assets 2020: $168,894,673Liabilities 2020: $153,982,467Net Assets 2020: $14,912,2062020Assets 2021: $189,326,662Liabilities 2021: $173,401,784Net Assets 2021: $15,924,8782021Assets 2022: $191,618,992Liabilities 2022: $177,557,999Net Assets 2022: $14,060,9932022Assets 2023: $190,623,038Liabilities 2023: $173,511,597Net Assets 2023: $17,111,4412023Assets 2024: $193,974,507Liabilities 2024: $175,944,191Net Assets 2024: $18,030,3162024

Highlighted filing

2020

Assets$168,894,673
Liabilities$153,982,467
Net Assets$14,912,206
Open 2020 Filing

Operations Trend

Revenue Growth67th percentile

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

$15M$10M$5.0M$0Expenses 2010: $6,844,5722010Expenses 2011: $5,568,2562011Expenses 2012: $4,759,7282012Revenue 2013: $5,494,681Expenses 2013: $4,929,618Net Income 2013: $565,0632013Revenue 2014: $5,581,789Expenses 2014: $5,143,330Net Income 2014: $438,4592014Revenue 2015: $5,898,777Expenses 2015: $5,284,868Net Income 2015: $613,9092015Revenue 2016: $5,985,903Expenses 2016: $5,540,546Net Income 2016: $445,3572016Revenue 2017: $6,160,014Expenses 2017: $5,847,220Net Income 2017: $312,7942017Revenue 2018: $7,006,049Expenses 2018: $6,034,540Net Income 2018: $971,5092018Revenue 2019: $7,893,901Expenses 2019: $6,794,831Net Income 2019: $1,099,0702019Revenue 2020: $7,960,128Expenses 2020: $7,120,828Net Income 2020: $839,3002020Revenue 2021: $8,391,564Expenses 2021: $7,139,831Net Income 2021: $1,251,7332021Revenue 2022: $10,150,900Expenses 2022: $8,699,422Net Income 2022: $1,451,4782022Revenue 2023: $12,667,168Expenses 2023: $10,468,944Net Income 2023: $2,198,2242023Revenue 2024: $13,190,825Expenses 2024: $12,452,257Net Income 2024: $738,5682024

Highlighted filing

2020

Revenue$7,960,128
Expenses$7,120,828
Net Income$839,300
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$7,960,128
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$95,848,427$105,014,023▲ $9,165,596
Savings and Temporary Cash Investments$26,608,521$42,170,528▲ $15,562,007
Rtn Earn Endowment Incm Other Fnds$13,912,950$14,912,206▲ $999,256
Investments in Publicly Traded Securities$10,955,960$9,793,432▼ $1,162,528
Land, Buildings, and Equipment, Net$4,715,436$4,756,591▲ $41,155
Cash and Non-Interest-Bearing Accounts$1,922,756$3,906,815▲ $1,984,059
Investments Other Securities$440,200$440,200→ $0
Accounts Receivable$1,064,888$420,056▼ $644,832
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$143,837,700$168,894,673▲ $25,056,973
Other Assets Total$2,281,512$2,393,028▲ $111,516
Liabilities
Other Liabilities$129,773,872$153,843,772▲ $24,069,900
Accounts Payable and Accrued Expenses$150,878$138,695▼ $12,183
Total Liabilities$129,924,750$153,982,467▲ $24,057,717
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,912,950$14,912,206▲ $999,256
Total Liabilities and Net Assets / Fund Balance$143,837,700$168,894,673▲ $25,056,973

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,668,796$2,286,161$4,954,957
Land$1,405,805-$1,405,805
Equipment$514,343$717,089$1,231,432
Other Land Buildings$36,101$756,290$792,391
Leasehold Improvements$131,546$192,747$324,293
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel BainesCEOFT$161,104$35,811$196,915
Joseph HeintskillCFOFT$126,733$10,783$137,516
Rebecca BainesVP OperationsFT$123,971$10,606$134,577

Board Members and Trustees

NameTitle
Roxanne SpeckChairperson
Brian BorrVice Chair
Danna GomezDirector
Thomas TruszkowskiDirector
Todd RemingaDirector
Daniel HollandSecretary
Dennis BrownTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservData Processing75 Remittance Drive Suite 1649, Chicago, IL 60675$331,098
Full Circle Marketing and DesignMarketing600 7th Street NW Suite 200, Grand Rapids, MI 49504$306,150
Blue Care NetworkEmp Health Insurance20500 Civic Center Dr, Southfield, MI 48076$275,569
Coop NetworkCard Services9692 Haven Avenue, Rancho Cucamonga, CA 91730-5891$253,486
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,522,402
Investment Income
$437,726
Other Revenue
$0
Change in Net Assets
$839,300
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,498,509
Salaries, Compensation, and Employee Benefits$2,622,319
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$1,851,305
Other Salaries and Wages---$1,540,060
Current Officers, Directors, Trustees, and Key Employees---$469,009
Advertising---$398,698
Other Employee Benefits---$360,603
Interest---$354,486
Occupancy---$315,999
Depreciation Depletion---$277,129
Payroll Taxes---$142,559
Pension Plan Contributions---$110,088
Insurance---$63,791
Travel---$40,954
Other Expenses---$33,159
Total Functional Expenses$0$0$0$7,120,828
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 Deposits$153,843,772
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 2: Description of Business or Family Relationship of Officers, Directors, Et

“Daniel Baines Former(President/CEO) and Rebecca Baines (VP Operations) are husband and wife.”

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

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

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

“The board is elected by the membership for three year terms.”

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

“Mergers are voted on by entire membership.”

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

“Management reviews tax returns and forwards US Form 8879-EO to tax preparer. A copy is made available to the Board of Directors for review.”

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

“Compensation for the President/CEO and Key Employees is determined by the Board of Directors using CUNA and MCUL salary surveys to determine ranges and actual pay. The last review process was performed in 2016.”

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

“Financial Statements are posted monthly at our primary office located in Wyoming, Michigan. Quarterly call reports are available at the ncua.gov website. All other documents are made available for review upon request.”

Filing and Contact Details

Filer

Filer Name
Bloom Credit Union
EIN
38-1907619
Phone
6164522161
Address
1414 Burton Street SW, Wyoming, MI 49509

Signing Officer

Name
Joseph Heintskill
Title
CEO
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Heintskill
Formed
1951
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
53
Volunteers
7

Preparer

Firm
Financial Standards Group Inc
Address
6447 W HIGHWAY 146, CRESTWOOD, KY 40014
Preparer
Patrick Haughey
Phone
8005225820
Raw XML AppendixShowing 400 of 488 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/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/TotalAmt063791
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt0354486
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0437726
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0437726
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0440200
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0440200
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt010955960
IRS990/InvestmentsPubTradedSecGrp/EOYAmt09793432
IRS990/IRPDocumentCnt02091
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03952287
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04715436
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04756591
IRS990/LandBldgEquipCostOrOtherBssAmt08708878
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Provide financial services and products to members.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt013912950
IRS990/NetAssetsOrFundBalancesEOYAmt014912206
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt09669
IRS990/NetUnrlzdGainsLossesInvstAmt0159956
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0315999
IRS990/OfficeExpensesGrp/TotalAmt01851305
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02281512
IRS990/OtherAssetsTotalGrp/EOYAmt02393028
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0360603
IRS990/OtherExpensesGrp/Desc0Loan Servicing
IRS990/OtherExpensesGrp/Desc1Provision for Loan Losses
IRS990/OtherExpensesGrp/Desc2Prof. & Outside Services
IRS990/OtherExpensesGrp/Desc3Operating Fees
IRS990/OtherExpensesGrp/TotalAmt0563450
IRS990/OtherExpensesGrp/TotalAmt1474076
IRS990/OtherExpensesGrp/TotalAmt2125462
IRS990/OtherExpensesGrp/TotalAmt333159
IRS990/OtherLiabilitiesGrp/BOYAmt0129773872
IRS990/OtherLiabilitiesGrp/EOYAmt0153843772
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
IRS990/OtherRevenueMiscGrp/BusinessCd1525990
IRS990/OtherRevenueMiscGrp/BusinessCd2525990
IRS990/OtherRevenueMiscGrp/Desc0Insurance Revenue
IRS990/OtherRevenueMiscGrp/Desc1Non-Member ATM Fees
IRS990/OtherRevenueMiscGrp/Desc2Oth Non-Mbr Activity Inc
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt01540060
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt095848427
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0105014023
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0142559
IRS990/PensionPlanContributionsGrp/TotalAmt0110088
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Joseph Heintskill
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3525990
IRS990/ProgramServiceRevenueGrp/BusinessCd4525990
IRS990/ProgramServiceRevenueGrp/Desc0Fee and Other Income
IRS990/ProgramServiceRevenueGrp/Desc1Insurance Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Interest on Loans
IRS990/ProgramServiceRevenueGrp/Desc3Non-Member ATM Fees
IRS990/ProgramServiceRevenueGrp/Desc4Oth Non-Mbr Activity Inc
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01981773
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15424376
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01981773
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt158605
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25424376
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt329003
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt426667
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt058605
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt129003
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt226667
IRS990/ProgSrvcAccomActy2Grp/Desc0The Credit Union provides a variety of loans to members including real estate, credit card, vehicle and other. The total number of loans outstanding at 12/31/2020 was 8,487.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0759987
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04218755
IRS990/PYProgramServiceRevenueAmt07133914
IRS990/PYRevenuesLessExpensesAmt01099070
IRS990/PYSalariesCompEmpBnftPaidAmt02576076
IRS990/PYTotalExpensesAmt06794831
IRS990/PYTotalRevenueAmt07893901
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0839300
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt013912950
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt014912206
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026608521
IRS990/SavingsAndTempCashInvstGrp/EOYAmt042170528
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02668796
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02286161
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04954957
IRS990ScheduleD/EquipmentGrp/BookValueAmt0514343
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0717089
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01231432
IRS990ScheduleD/LandGrp/BookValueAmt01405805
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01405805
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0131546
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0192747
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0324293
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt036101
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0756290
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0792391
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0153843772
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04756591
IRS990ScheduleD/TotalLiabilityAmt0153843772
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0161104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt014858
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt020953
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Daniel Baines
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0196915
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Daniel Baines Former(President/CEO) and Rebecca Baines (VP Operations) are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Credit Union has a single class of members with equal rights of ownership, governance, and voting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board is elected by the membership for three year terms.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Mergers are voted on by entire membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Management reviews tax returns and forwards US Form 8879-EO to tax preparer. A copy is made available to the Board of Directors for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Compensation for the President/CEO and Key Employees is determined by the Board of Directors using CUNA and MCUL salary surveys to determine ranges and actual pay. The last review process was performed in 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Financial Statements are posted monthly at our primary office located in Wyoming, Michigan. Quarterly call reports are available at the ncua.gov website. All other documents are made available for review upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0Bloom Credit Union
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0Financial Resource Advisors LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0383406282
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt058133
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Insurance and Investment Sales
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt01978
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt01414 Burton St SW
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0Wyoming
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd049509
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$168,894,673
Liabilities
$153,982,467
Net assets
$14,912,206
Revenue
$7,960,128
Expenses
$7,120,828
Net income
$839,300
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$194$176$18.0$13.2$12.5$0.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$174$17.1$12.7$10.5$2.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$192$178$14.1$10.2$8.70$1.45
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$189$173$15.9$8.39$7.14$1.25
2020Detailed filing. Detailed filing data is available for this year.$169$154$14.9$7.96$7.12$0.84
2019Summary only. Only limited summary data is available for this year.$144$130$13.9$7.89$6.79$1.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$138$126$12.2$7.01$6.03$0.97
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$133$122$11.4$6.16$5.85$0.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$128$117$11.3$5.99$5.54$0.45
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$121$111$10.8$5.90$5.28$0.61
2014Detailed filing. Detailed filing data is available for this year.$117$107$10.1$5.58$5.14$0.44
2013Detailed filing. Detailed filing data is available for this year.$110$100$9.38$5.49$4.93$0.57
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$107$97.5$9.55$4.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$92.9$8.62$5.57
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$100$91.9$8.21$6.84
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