Form 990 for tax year 2025
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.
Totals
- Total revenue
- $20,136,399
- Total expenses
- $16,729,471
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $15,794,132
- Investment income
- $4,342,267
- Other revenue
- $0
- Total assets, end of year
- $307,825,900
- Total liabilities, end of year
- $267,090,127
- Net assets or fund balances, end of year
- $40,735,773
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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.
-
2a · Program service revenue: FEES AND CHARGES
total $4,932,083 · related or exempt $4,912,991 · unrelated business $19,092
-
2b · Program service revenue: INSURANCE SALES
total $14,600 · unrelated business $14,600
-
2c · Program service revenue: INTEREST ON LOANS
total $10,847,449 · related or exempt $10,847,449
-
3 · Investment income
total $4,342,267 · related or exempt $4,342,267
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,198,920
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $3,629,243
-
8 · Pension plan contributions
total $479,841
-
9 · Other employee benefits
total $692,195
-
10 · Payroll taxes
total $359,845
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $491,184
-
13 · Office expenses
total $2,320,876
-
14 · Information technology
total $684,184
-
15 · Royalties
total $0
-
16 · Occupancy
total $456,053
-
17 · Travel
total $113,894
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $3,606,322
-
21 · Payments to affiliates
total $29,976
-
22 · Depreciation, depletion and amortization
total $227,066
-
23 · Insurance
total $50,575
-
24a · Other expenses: LOAN SERVICING EXPENSE
total $1,297,325
-
24b · Other expenses: PROVISION FOR CREDIT LOSS
total $641,287
-
24c · Other expenses: PRO SERVICES
total $338,280
-
24d · Other expenses: MISC
total $71,605
-
24e · All other expenses
total $40,800
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,627,278 · end of year $3,631,508
-
2 · Savings and temporary cash investments
beginning of year $41,172,965 · end of year $54,739,360
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $273,144 · end of year $761,490
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $149,777,722 · end of year $156,974,432
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $233,563 · end of year $196,067
-
10a · Land, buildings and equipment: cost or other basis
$5,687,475
-
10b · Land, buildings and equipment: accumulated depreciation
$3,451,764
-
10c · Land, buildings and equipment, net
beginning of year $2,331,900 · end of year $2,235,711
-
11 · Investments: publicly traded securities
beginning of year $78,818,100 · end of year $74,294,005
-
12 · Investments: other securities
beginning of year $10,765,379 · end of year $11,316,233
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $3,414,492 · end of year $3,677,094
-
17 · Accounts payable and accrued expenses
beginning of year $1,377,002 · end of year $1,393,963
-
25 · Other liabilities
beginning of year $253,736,901 · end of year $265,696,164
-
31 · Retained earnings, endowment or other funds
beginning of year $34,300,640 · end of year $40,735,773
Mission and programs · 2025
Mission
PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS.
-
THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2025 WAS 23,514.
-
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 12/31/2025 WAS 19,478.
As filed on the 2025 return.
Listed in Part VII
-
John YeomansJOHN YEOMANS
CEO
- Total calculated
- $360,416
- From this org
- $331,266
- From related orgs
- $0
- Other
- $29,150
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $291,216
- Bonus
- $40,050
- Other
- not reported
- Deferred
- $25,591
- Nontaxable benefits
- $3,559
- Filer's total
- $360,416
-
Bev Vander WellBEV VANDER WELL
CFO
- Total calculated
- $198,826
- From this org
- $180,941
- From related orgs
- $0
- Other
- $17,885
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,676
- Bonus
- $31,265
- Other
- not reported
- Deferred
- $14,326
- Nontaxable benefits
- $3,559
- Filer's total
- $198,826
-
Bryan KaylorBRYAN KAYLOR
COO
- Total calculated
- $187,673
- From this org
- $161,280
- From related orgs
- $0
- Other
- $26,393
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $133,930
- Bonus
- $27,350
- Other
- not reported
- Deferred
- $16,618
- Nontaxable benefits
- $9,775
- Filer's total
- $187,673
-
Christine PrattCHRISTINE PRATT
Vice President
- Total calculated
- $168,603
- From this org
- $143,013
- From related orgs
- $0
- Other
- $25,590
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,924
- Bonus
- $26,089
- Other
- not reported
- Deferred
- $15,815
- Nontaxable benefits
- $9,775
- Filer's total
- $168,603
-
Dorothy LintonDOROTHY LINTON
Vice President
- Total calculated
- $154,535
- From this org
- $137,019
- From related orgs
- $0
- Other
- $17,516
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $111,869
- Bonus
- $25,150
- Other
- not reported
- Deferred
- $10,577
- Nontaxable benefits
- $6,939
- Filer's total
- $154,535
-
Rhonda HarringtonRHONDA HARRINGTON
Vice President
- Total calculated
- $128,867
- From this org
- $110,016
- From related orgs
- $0
- Other
- $18,851
- Hours/week
- 40
-
Russell HermanRUSSELL HERMAN
Chairman
- Total calculated
- $0
- Hours/week
- 0
-
Yvonne AllesYVONNE ALLES
Director
- Total calculated
- $0
- Hours/week
- 0
-
Gaylen DemarestGAYLEN DEMAREST
Treasurer
- Total calculated
- $0
- Hours/week
- 0
-
Frederick BartlingFREDERICK BARTLING
Secretary
- Total calculated
- $0
- Hours/week
- 0
-
Thomas PowersTHOMAS POWERS
Director
- Total calculated
- $0
- Hours/week
- 0
-
Vicki BrownVICKI BROWN
Director
- Total calculated
- $0
- Hours/week
- 0
-
Fred GradisherFRED GRADISHER
Director
- Total calculated
- $0
- Hours/week
- 0
-
Meredith AndersonMEREDITH ANDERSON
Director
- Total calculated
- $0
- Hours/week
- 1
-
Keegan DanielKEEGAN DANIEL
Director
- Total calculated
- $0
- Hours/week
- 1
-
Peter HermanPETER HERMAN
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cynthia Mc CombsCYNTHIA MC COMBS
Director
- Total calculated
- $0
- Hours/week
- 1
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
- 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
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.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 10 April 2026
- IRS schema version
- 2025v4.1
- Source object
- 202641009349300814
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