Civic Intelligence

Credit Unions Chartered in the State of Michigan

990 • Fiscal year 2017 • EIN 38-6064790

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 23, 2018

Organization Profilewww.filercu.com
PO Box 375Manistee, MI 49660

(231) 723-3400

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$139,550,078

Flat from 2017

Net Assets

Flat

$16,452,890

Flat from 2017

Liabilities

Flat

$123,097,188

Flat from 2017

Revenue And Expenses

Revenue

Flat

$4,911,412

Flat from 2017

Expenses

Flat

$3,900,331

Flat from 2017

Net Income

Flat

$1,011,081

Flat from 2017

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $90,412,008Liabilities 2010: $80,956,638Net Assets 2010: $9,455,3702010Assets 2011: $100,510,130Liabilities 2011: $88,482,349Net Assets 2011: $12,027,7812011Assets 2012: $107,754,873Liabilities 2012: $94,673,562Net Assets 2012: $13,081,3112012Assets 2013: $107,064,104Liabilities 2013: $96,231,423Net Assets 2013: $10,832,6812013Assets 2014: $115,153,767Liabilities 2014: $101,919,555Net Assets 2014: $13,234,2122014Assets 2015: $123,773,397Liabilities 2015: $109,403,497Net Assets 2015: $14,369,9002015Assets 2016: $130,901,766Liabilities 2016: $115,651,569Net Assets 2016: $15,250,1972016Assets 2017: $139,550,078Liabilities 2017: $123,097,188Net Assets 2017: $16,452,8902017Assets 2017: $139,550,078Liabilities 2017: $123,097,188Net Assets 2017: $16,452,8902017Assets 2018: $143,233,201Liabilities 2018: $126,098,721Net Assets 2018: $17,134,4802018Assets 2019: $157,533,855Liabilities 2019: $137,856,449Net Assets 2019: $19,677,4062019Assets 2020: $192,173,387Liabilities 2020: $170,207,747Net Assets 2020: $21,965,6402020Assets 2021: $216,138,619Liabilities 2021: $193,361,964Net Assets 2021: $22,776,6552021Assets 2022: $221,697,993Liabilities 2022: $204,428,462Net Assets 2022: $17,269,5312022Assets 2023: $232,907,925Liabilities 2023: $213,461,800Net Assets 2023: $19,446,1252023Assets 2024: $236,137,876Liabilities 2024: $214,083,484Net Assets 2024: $22,054,3922024

Highlighted filing

2017

Assets$139,550,078
Liabilities$123,097,188
Net Assets$16,452,890
Open 2017 Filing

Operations Trend

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

$15M$10M$5.0M$0Expenses 2010: $3,916,5142010Expenses 2011: $3,739,0482011Expenses 2012: $3,776,0062012Revenue 2013: $4,283,843Expenses 2013: $3,295,031Net Income 2013: $988,8122013Revenue 2014: $4,048,120Expenses 2014: $3,293,090Net Income 2014: $755,0302014Revenue 2015: $4,328,123Expenses 2015: $3,414,130Net Income 2015: $913,9932015Revenue 2016: $4,481,639Expenses 2016: $3,641,350Net Income 2016: $840,2892016Revenue 2017: $4,911,412Expenses 2017: $3,900,331Net Income 2017: $1,011,0812017Revenue 2017: $4,911,412Expenses 2017: $3,900,331Net Income 2017: $1,011,0812017Revenue 2018: $5,444,704Expenses 2018: $4,314,736Net Income 2018: $1,129,9682018Revenue 2019: $6,034,792Expenses 2019: $4,828,298Net Income 2019: $1,206,4942019Revenue 2020: $6,225,169Expenses 2020: $4,764,422Net Income 2020: $1,460,7472020Revenue 2021: $6,778,543Expenses 2021: $4,561,553Net Income 2021: $2,216,9902021Revenue 2022: $7,809,519Expenses 2022: $5,147,655Net Income 2022: $2,661,8642022Revenue 2023: $10,019,493Expenses 2023: $8,228,592Net Income 2023: $1,790,9012023Revenue 2024: $12,009,346Expenses 2024: $10,127,719Net Income 2024: $1,881,6272024

Highlighted filing

2017

Revenue$4,911,412
Expenses$3,900,331
Net Income$1,011,081
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 23, 2018
Return Version
2017v2.2
Gross Receipts
$8,953,265
Mission and Program Overview

Mission

Building Member-Owned, Life-long relationships, one member at a time.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$65,060,243$72,993,372▲ $7,933,129
Investments in Publicly Traded Securities$40,818,527$38,833,152▼ $1,985,375
Rtn Earn Endowment Incm Other Fnds$15,250,197$16,452,890▲ $1,202,693
Savings and Temporary Cash Investments$13,647,845$15,421,999▲ $1,774,154
Investments Other Securities$6,358,143$7,255,677▲ $897,534
Land, Buildings, and Equipment, Net$1,696,877$1,723,035▲ $26,158
Cash and Non-Interest-Bearing Accounts$1,164,430$1,095,276▼ $69,154
Prepaid Expenses and Deferred Charges$352,148$473,929▲ $121,781
Accounts Receivable-$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$130,901,766$139,550,078▲ $8,648,312
Other Assets Total$1,803,553$1,753,638▼ $49,915
Liabilities
Other Liabilities$114,735,155$120,355,898▲ $5,620,743
Accounts Payable and Accrued Expenses$916,414$2,741,290▲ $1,824,876
Total Liabilities$115,651,569$123,097,188▲ $7,445,619
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,250,197$16,452,890▲ $1,202,693
Total Liabilities and Net Assets / Fund Balance$130,901,766$139,550,078▲ $8,648,312

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,509,565$898,070$2,407,635
Other Land Buildings$34,592$309,825$344,417
Land$132,120-$132,120
Equipment$34,612$62,321$96,933
Leasehold Improvements$12,146-$12,146
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patty PreussCEOFT$93,178$17,579$110,757
Kaci KamaloskiCFOFT$62,739$12,064$74,803

Board Members and Trustees

NameTitle
Gregg KingPresident
Wayne BernierVice President
Anthony GagliardoDirector
Constance WatsonDirector
James SibleyDirector
Jean SoltesDirector
Thomas BatzerDirector
Tom MaternowskiDirector
Bonnie CoteTreasurer/Secr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,504,476
Investment Income
$1,148,477
Other Revenue
$258,459
Change in Net Assets
$1,011,081
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,729,806
Salaries, Compensation, and Employee Benefits$1,170,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$912,070
Other Salaries and Wages---$706,826
Office Expenses---$419,972
Information Technology---$234,123
Current Officers, Directors, Trustees, and Key Employees---$185,561
Other Employee Benefits---$139,001
Advertising---$136,906
Occupancy---$105,762
Depreciation Depletion---$85,534
Fees for Services Other---$76,432
Payroll Taxes---$73,238
Insurance---$68,687
Pension Plan Contributions---$65,899
Other Expenses---$31,658
All Other Expenses---$22,147
Travel---$8,695
Total Functional Expenses$0$0$0$3,900,331
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
Deposit Accounts$120,355,896
Rounding$2
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 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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Section 501c(14) Credit Union is composed of members. Each individual that has an account with the Credit Union is a member of the Credit Union.”

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

“The organization will not provide a copy of Form 990 to all members of its governing body before filing the form. The CFO reviews Form 990 for differences from the Credit Union financial statements.”

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

“Used the Michigan Credit Union League Salary survey and deliberation, decision.”

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

“The financial statements are made available to the public upon request only.”

Filing and Contact Details

Filer

Filer Name
Filer Credit Union
EIN
38-6064790
Phone
2317233400
Address
PO Box 375, Manistee, MI 49660

Signing Officer

Name
Patty Preuss
Title
CEO
Signed
2018-04-23
Discuss with paid preparer
Yes

Organization Details

Formed
1951
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
31
Volunteers
15

Preparer

Firm
Financial Standards Group Inc
Address
3615 NEWBURG RD, LOUISVILLE, KY 40218
Preparer
Thomas Armantrout CPA
Phone
8005225820
Supplemental Narrative

Additional Explanations

Amended Explanation

“Correction to Page 1, Line 7b, Net Unrelated Business Income from Form 990-T.”

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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0139001
IRS990/OtherExpensesGrp/Desc0Loan Servicing
IRS990/OtherExpensesGrp/Desc1Loan Loss Provision
IRS990/OtherExpensesGrp/Desc2Postage and Shipping
IRS990/OtherExpensesGrp/Desc3Exam Fees
IRS990/OtherExpensesGrp/TotalAmt0395444
IRS990/OtherExpensesGrp/TotalAmt1182085
IRS990/OtherExpensesGrp/TotalAmt250291
IRS990/OtherExpensesGrp/TotalAmt331658
IRS990/OtherLiabilitiesGrp/BOYAmt0114735155
IRS990/OtherLiabilitiesGrp/EOYAmt0120355898
IRS990/OtherRevenueMiscGrp/BusinessCd0525990
IRS990/OtherRevenueMiscGrp/Desc0Non-Member ATM Fees
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0250847
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0258459
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt07612
IRS990/OtherRevenueTotalAmt0258459
IRS990/OtherSalariesAndWagesGrp/TotalAmt0706826
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt065060243
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt072993372
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt073238
IRS990/PensionPlanContributionsGrp/TotalAmt065899
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0352148
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0473929
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/Desc0Fees & Charges
IRS990/ProgramServiceRevenueGrp/Desc1Income on Member Loans
IRS990/ProgramServiceRevenueGrp/Desc2VISA Interchange
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0562414
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12859794
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt282268
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0562414
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12859794
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt282268
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 12/31/2017 was 5,134.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt01014898
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt02465943
IRS990/PYProgramServiceRevenueAmt03466741
IRS990/PYRevenuesLessExpensesAmt0840289
IRS990/PYSalariesCompEmpBnftPaidAmt01175407
IRS990/PYTotalExpensesAmt03641350
IRS990/PYTotalRevenueAmt04481639
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01011081
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt015250197
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt016452890
IRS990/SavingsAndTempCashInvstGrp/BOYAmt013647845
IRS990/SavingsAndTempCashInvstGrp/EOYAmt015421999
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01509565
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0898070
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02407635
IRS990ScheduleD/EquipmentGrp/BookValueAmt034612
IRS990ScheduleD/EquipmentGrp/DepreciationAmt062321
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt096933
IRS990ScheduleD/LandGrp/BookValueAmt0132120
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0132120
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt012146
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt012146
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt034592
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0309825
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0344417
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0120355896
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deposit Accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01723035
IRS990ScheduleD/TotalBookValueSecuritiesAmt07255677
IRS990ScheduleD/TotalLiabilityAmt0120355898
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section 501c(14) Credit Union is composed of members. Each individual that has an account with the Credit Union is a member of the Credit Union.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization will not provide a copy of Form 990 to all members of its governing body before filing the form. The CFO reviews Form 990 for differences from the Credit Union financial statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Used the Michigan Credit Union League Salary survey and deliberation, decision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The financial statements are made available to the public upon request only.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Correction to Page 1, Line 7b, Net Unrelated Business Income from Form 990-T.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Amended Explanation
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0130901766
IRS990/TotalAssetsEOYAmt0139550078
IRS990/TotalAssetsGrp/BOYAmt0130901766
IRS990/TotalAssetsGrp/EOYAmt0139550078
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt031
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03900331
IRS990/TotalGrossUBIAmt07612
IRS990/TotalLiabilitiesBOYAmt0115651569
IRS990/TotalLiabilitiesEOYAmt0123097188
IRS990/TotalLiabilitiesGrp/BOYAmt0115651569
IRS990/TotalLiabilitiesGrp/EOYAmt0123097188
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015250197
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt016452890
IRS990/TotalOtherCompensationAmt029643
IRS990/TotalProgramServiceRevenueAmt03504476
IRS990/TotalReportableCompFromOrgAmt0155917
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04903800
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04911412
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt07612
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0130901766
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0139550078
IRS990/TravelGrp/TotalAmt08695
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0www.filercu.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Patty Preuss
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-23

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$139,550,078
Liabilities
$123,097,188
Net assets
$16,452,890
Revenue
$4,911,412
Expenses
$3,900,331
Net income
$1,011,081
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$236$214$22.1$12.0$10.1$1.88
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$233$213$19.4$10.0$8.23$1.79
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$222$204$17.3$7.81$5.15$2.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$216$193$22.8$6.78$4.56$2.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$192$170$22.0$6.23$4.76$1.46
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$158$138$19.7$6.03$4.83$1.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$143$126$17.1$5.44$4.31$1.13
2017Detailed filing. Detailed filing data is available for this year.$140$123$16.5$4.91$3.90$1.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$140$123$16.5$4.91$3.90$1.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$131$116$15.3$4.48$3.64$0.84
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$124$109$14.4$4.33$3.41$0.91
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$115$102$13.2$4.05$3.29$0.76
2013Detailed filing. Detailed filing data is available for this year.$107$96.2$10.8$4.28$3.30$0.99
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$108$94.7$13.1$3.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$88.5$12.0$3.74
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.4$81.0$9.46$3.92