Civic Intelligence

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

990 • Fiscal year 2021 • EIN 38-1907619

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 26, 2022

Organization Profilebloomcu.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

0.92x

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

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

41st percentile

20.66x

Higher debt load relative to revenue than 41% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Net Margin

55th percentile

15%

Higher net margin than 55% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

23rd percentile

$156,411

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2021

Asset Growth

64th percentile

12%

Faster asset growth than 64% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

68th percentile

5.4%

Faster revenue growth than 68% of similar nonprofits.

2021 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$189,326,662

Up $20,431,989 (+12%) from 2020

Net Assets

Up

$15,924,878

Up $1,012,672 (+6.8%) from 2020

Liabilities

Up

$173,401,784

Up $19,419,317 (+13%) from 2020

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin55th percentile

Revenue

Up

$8,391,564

Up $431,436 (+5.4%) from 2020

Expenses

Up

$7,139,831

Up $19,003 (+0.3%) from 2020

Net Income

Up

$1,251,733

Up $412,433 (+49%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth64th 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

2021

Assets$189,326,662
Liabilities$173,401,784
Net Assets$15,924,878
Open 2021 Filing

Operations Trend

Revenue Growth68th 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

2021

Revenue$8,391,564
Expenses$7,139,831
Net Income$1,251,733
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 26, 2022
Return Version
2021v4.0
Gross Receipts
$8,391,564
Mission and Program Overview

Mission

Provide financial services and products to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$105,014,023$106,268,149▲ $1,254,126
Savings and Temporary Cash Investments$42,170,528$55,167,608▲ $12,997,080
Rtn Earn Endowment Incm Other Fnds$14,912,206$15,924,878▲ $1,012,672
Investments in Publicly Traded Securities$9,793,432$13,365,337▲ $3,571,905
Cash and Non-Interest-Bearing Accounts$3,906,815$5,875,726▲ $1,968,911
Land, Buildings, and Equipment, Net$4,756,591$4,583,616▼ $172,975
Accounts Receivable$420,056$1,043,883▲ $623,827
Prepaid Expenses and Deferred Charges-$440,854-
Investments Other Securities$440,200$440,200→ $0
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-
Total Assets$168,894,673$189,326,662▲ $20,431,989
Other Assets Total$2,393,028$2,141,289▼ $251,739
Liabilities
Other Liabilities$153,843,772$173,259,633▲ $19,415,861
Accounts Payable and Accrued Expenses$138,695$142,151▲ $3,456
Total Liabilities$153,982,467$173,401,784▲ $19,419,317
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,912,206$15,924,878▲ $1,012,672
Total Liabilities and Net Assets / Fund Balance$168,894,673$189,326,662▲ $20,431,989

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,623,163$2,404,909$5,028,072
Land$1,405,804-$1,405,804
Equipment$420,369$849,499$1,269,868
Other Land Buildings$27,811$773,775$801,586
Leasehold Improvements$106,469$217,824$324,293
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph HeintskillCEOFT$141,154$37,172$156,411
Rebecca BainesVP OperationsFT$116,799$11,597$151,657
Daniel BainesFormer CEOFT$129,496$13,489$141,639
Robert DraegerCFOFT$44,174$4,079$48,253
Roxanne SpeckChairperson-$4,224-$4,224
Dennis BrownTreasurer-$414-$414

Board Members and Trustees

NameTitle
Brian BorrVice Chair
Danna GomezDirector
Thomas TruszkowskiDirector
Todd RemingaDirector
Daniel HollandSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
NcrPayment Solutions864 Spring St NW, Atlanta, GA 30309$357,499
Coop NetworkCard Services9692 Haven Avenue, Rancho Cucamonga, CA 91730-5891$343,447
FiservData Processing75 Remittance Drive Suite 1649, Chicago, IL 60675$337,721
Blue Care NetworkEmp Health Insurance20500 Civic Center Dr, Southfield, MI 48076$297,373
Full Circle Marketing and DesignMarketing600 7th Street NW Suite 200, Grand Rapids, MI 49504$279,538
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$8,052,963
Investment Income
$338,601
Other Revenue
$0
Change in Net Assets
$1,251,733
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,298,265
Salaries, Compensation, and Employee Benefits$2,841,566
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses---$1,775,951
Other Salaries and Wages---$1,664,783
Current Officers, Directors, Trustees, and Key Employees---$502,601
Advertising---$413,619
Other Employee Benefits---$388,618
Interest---$326,544
Occupancy---$325,092
Depreciation Depletion---$295,475
Information Technology---$215,722
Payroll Taxes---$158,949
Pension Plan Contributions---$126,615
Fees for Services Other---$89,832
Travel---$85,804
Insurance---$64,161
Other Expenses---$11,398
All Other Expenses---$-27,652
Total Functional Expenses$0$0$0$7,139,831
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$173,259,633
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.Board Chair, Roxanne Speck, is the daughter of director Dennis Brown.”

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
Robert Drager
Title
CFO
Signed
2022-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Drager
Formed
1951
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
61
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 512 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/PersonNm2Daniel Baines
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IRS990/Form990PartVIISectionAGrp/PersonNm4Roxanne Speck
IRS990/Form990PartVIISectionAGrp/PersonNm5Dennis Brown
IRS990/Form990PartVIISectionAGrp/PersonNm6Thomas Truszkowski
IRS990/Form990PartVIISectionAGrp/PersonNm7Daniel Holland
IRS990/Form990PartVIISectionAGrp/PersonNm8Brian Borr
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1VP Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt2Former CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
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IRS990/InsuranceGrp/TotalAmt064161
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IRS990/MissionDesc0Provide financial services and products to members.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt014912206
IRS990/NetAssetsOrFundBalancesEOYAmt015924878
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IRS990/NetUnrelatedBusTxblIncmAmt05962
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IRS990/OccupancyGrp/TotalAmt0325092
IRS990/OfficeExpensesGrp/TotalAmt01775951
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02393028
IRS990/OtherAssetsTotalGrp/EOYAmt02141289
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0388618
IRS990/OtherExpensesGrp/Desc0Loan Servicing
IRS990/OtherExpensesGrp/Desc1Postage and Shipping
IRS990/OtherExpensesGrp/Desc2Miscellaneous Expenses
IRS990/OtherExpensesGrp/Desc3Cash over and short
IRS990/OtherExpensesGrp/TotalAmt0600587
IRS990/OtherExpensesGrp/TotalAmt1107406
IRS990/OtherExpensesGrp/TotalAmt214326
IRS990/OtherExpensesGrp/TotalAmt311398
IRS990/OtherLiabilitiesGrp/BOYAmt0153843772
IRS990/OtherLiabilitiesGrp/EOYAmt0173259633
IRS990/OtherRevenueMiscGrp/BusinessCd0524298
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IRS990/OtherRevenueMiscGrp/Desc0Insurance Revenue
IRS990/OtherRevenueMiscGrp/Desc1Non-Member ATM Fees
IRS990/OtherRevenueMiscGrp/Desc2Oth Non-Mbr Activity Inc
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt01664783
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0105014023
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0106268149
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0158949
IRS990/PensionPlanContributionsGrp/TotalAmt0126615
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0440854
IRS990/PrincipalOfficerNm0Robert Drager
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
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IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
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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/RelatedOrExemptFuncIncomeAmt02318430
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15629071
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02318430
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt155300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25629071
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt334900
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt413284
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt055300
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt134900
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt213284
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 12/31/2021 was 8,426.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0437726
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04498509
IRS990/PYProgramServiceRevenueAmt07522402
IRS990/PYRevenuesLessExpensesAmt0839300
IRS990/PYSalariesCompEmpBnftPaidAmt02622319
IRS990/PYTotalExpensesAmt07120828
IRS990/PYTotalRevenueAmt07960128
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01251733
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt014912206
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt015924878
IRS990/SavingsAndTempCashInvstGrp/BOYAmt042170528
IRS990/SavingsAndTempCashInvstGrp/EOYAmt055167608
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02623163
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02404909
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05028072
IRS990ScheduleD/EquipmentGrp/BookValueAmt0420369
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0849499
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01269868
IRS990ScheduleD/LandGrp/BookValueAmt01405804
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01405804
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0106469
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0217824
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0324293
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt027811
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0773775
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0801586
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0173259633
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
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IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1141154
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2116799
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt011597
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt112689
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt210424
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt01346
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt123261
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt0546
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt11222
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt21173
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Daniel Baines
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Joseph Heintskill
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2Rebecca Baines
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Former CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VP Operations
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0141639
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1156411
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2151657
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Daniel Baines Former(President/CEO) and Rebecca Baines (VP Operations) are husband and wife.Board Chair, Roxanne Speck, is the daughter of director Dennis Brown.
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$189,326,662
Liabilities
$173,401,784
Net assets
$15,924,878
Revenue
$8,391,564
Expenses
$7,139,831
Net income
$1,251,733
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
2021Detailed filing. Detailed filing data is available for this year.$189$173$15.9$8.39$7.14$1.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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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