Form 990 for tax year 2025
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.
Totals
- Total revenue
- $8,414,640
- Total expenses
- $9,915,288
- Contributions and grants received
- $116,163
- Grants paid
- $0
- Program service revenue
- $7,431,461
- Investment income
- $737,784
- Other revenue
- $129,232
- Total assets, end of year
- $62,874,249
- Total liabilities, end of year
- $50,026,317
- Net assets or fund balances, end of year
- $12,847,932
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$116,163
-
2a · Program service revenue: FEE/OTHER INCOME
total $3,891,939 · related or exempt $3,891,939
-
2b · Program service revenue: LOAN INCOME
total $3,539,522 · related or exempt $3,539,522
-
3 · Investment income
total $737,784 · related or exempt $737,784
-
11a · Other revenue: FINANCE AND INSURANCE
total $129,232 · unrelated business $129,232
-
11e · Other revenue, total
$129,232
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $942,529
-
7 · Other salaries and wages
total $2,445,881
-
8 · Pension plan contributions
total $108,967
-
9 · Other employee benefits
total $570,349
-
10 · Payroll taxes
total $280,900
-
11b · Fees: legal
total $411,583
-
11c · Fees: accounting
total $73,018
-
11g · Fees: other
total $107,458
-
12 · Advertising and promotion
total $242,397
-
13 · Office expenses
total $487,944
-
14 · Information technology
total $418,468
-
16 · Occupancy
total $422,070
-
17 · Travel
total $2,951
-
19 · Conferences, conventions and meetings
total $176,016
-
20 · Interest
total $317,376
-
21 · Payments to affiliates
total $13,550
-
22 · Depreciation, depletion and amortization
total $218,570
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $1,046,206
-
24b · Other expenses: ATM/VISA/DEBIT
total $637,381
-
24c · Other expenses: MAINT. AND REPAIRS
total $630,382
-
24d · Other expenses: LOAN SERVICING
total $169,269
-
24e · All other expenses
total $192,023
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,574,903 · end of year $2,238,547
-
2 · Savings and temporary cash investments
beginning of year $5,859,032 · end of year $7,106,045
-
7 · Other notes and loans receivable
beginning of year $34,292,887 · end of year $34,833,466
-
9 · Prepaid expenses and deferred charges
beginning of year $535,092 · end of year $470,543
-
10a · Land, buildings and equipment: cost or other basis
$3,926,726
-
10b · Land, buildings and equipment: accumulated depreciation
$2,362,294
-
10c · Land, buildings and equipment, net
beginning of year $1,221,608 · end of year $1,564,432
-
12 · Investments: other securities
beginning of year $16,624,468 · end of year $14,502,728
-
15 · Other assets
beginning of year $2,692,023 · end of year $2,158,488
-
17 · Accounts payable and accrued expenses
beginning of year $2,226,885 · end of year $1,694,893
-
23 · Secured mortgages and notes payable
beginning of year $922,000 · end of year $922,000
-
25 · Other liabilities
beginning of year $46,846,938 · end of year $47,409,424
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $13,804,190 · end of year $12,847,932
Mission and programs · 2025
Mission
OUR MISSION IS TO IMPACT AND CHANGE LIVES. ONE DETROIT CREDIT UNION HELPS PEOPLE IN OUR COMMUNITY WHO HAVE BEEN OVERLOOKED BY THE MAINSTREAM BANKING SYSTEM BY PROVIDING THEM WITH CREDIBLE, FAIR, AND REASONABLY PRICED FINANCIAL PRODUCTS AND SERVICES.
Activities or mission (Part I)
THE MISSION OF ONE DETROIT CREDIT UNION IS TO HELP PEOPLE IN OUR COMMUNITY WHO HAVE BEEN OVERLOOKED BY THE MAINSTREAM BANKING SYSTEM BY PROVIDING THEM WITH CREDIBLE, FAIR, AND REASONABLY PRICED FINANCIAL PRODUCTS AND SERVICES.
-
LEND TO LOW TO MODERATE INCOME MEMBERS. THESE LOAN PROGRAMS ARE TARGETED TO OUR MEMBERS TO GIVE THEM ALTERNATIVES TO THE PAYDAY LENDERS AND HIGH INTEREST RATE CAR LOANS.
-
REDUCE MEMBER CAR LOAN INTEREST RATES.
-
OUR SAVE TO WIN CERTIFICATE PROGRAM GIVES THE MEMBER THE CHANCE TO WIN MONTHLY CASH PRIZES AND POSSIBLY THE GRAND PRIZE OF $10,000 WHILE BUILDING A BALANCE IN A CERTIFICATE.
As filed on the 2025 return.
Listed in Part VII
-
Anne ZobelANNE ZOBEL
CHAIRMAN OF THE BOARD
- Total calculated
- $0
- Hours/week
- 1
-
Joshua RobersonJOSHUA ROBERSON
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Mikai GreenMIKAI GREEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Regina GreearREGINA GREEAR
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Patrick HeronPATRICK HERON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany VantinoTIFFANY VANTINO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joann TaylorJOANN TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kai BowmanKAI BOWMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anthony AskewANTHONY ASKEW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kerrie Mitchell Campbell-MabinsKERRIE MITCHELL CAMPBELL-MABINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicole SimmonsNICOLE SIMMONS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Hank HubbardHANK HUBBARD
PRESIDENT/CEO (RETIRED JUNE 2025)
- Total calculated
- $260,137
- From this org
- $236,368
- From related orgs
- $0
- Other
- $23,769
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,811
- Bonus
- $60,920
- Other
- $8,637
- Deferred
- $12,057
- Nontaxable benefits
- $11,712
- Filer's total
- $260,137
-
Portia PowellPORTIA POWELL
CHIEF EXPERIENCE OFF/PRESIDENT/CEO - EFF JUNE 2025
- Total calculated
- $353,922
- From this org
- $335,126
- From related orgs
- $0
- Other
- $18,796
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $290,767
- Bonus
- $34,000
- Other
- $10,359
- Deferred
- $14,486
- Nontaxable benefits
- $4,310
- Filer's total
- $353,922
-
Stephanie PeoplesSTEPHANIE PEOPLES
CHIEF OPERATING OFFICER
- Total calculated
- $143,043
- From this org
- $137,538
- From related orgs
- $0
- Other
- $5,505
- Hours/week
- 40
-
Charles PruettCHARLES PRUETT
CFO
- Total calculated
- $185,427
- From this org
- $183,372
- From related orgs
- $0
- Other
- $2,055
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $152,660
- Bonus
- $28,012
- Other
- $2,700
- Deferred
- $0
- Nontaxable benefits
- $2,055
- Filer's total
- $185,427
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Discretionary spending account
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- IN JUNE 2025, PRESIDENT AND CEO, HANK HUBBARD, RETIRED. UPON HIS RETIREMENT HIS 457F PLAN WAS TERMINATED. SPECIFICALLY, THE UNDERLYING POLICY ASSETS TRANSFERRED OWNERSHIP FROM THE CREDIT UNION TO HANK HUBBARD.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · PUBLIC CHARITY · MI · controlled entity
Directly controlled by ONE DETROIT CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 24 August 2026
- IRS schema version
- 2025v4.2
- Source object
- 202602379349302115
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