Form 990 for tax year 2025
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.
Totals
- Total revenue
- $1,763,432
- Total expenses
- $1,406,045
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,248,926
- Investment income
- $509,309
- Other revenue
- $5,197
- Total assets, end of year
- $38,634,572
- Total liabilities, end of year
- $31,896,722
- Net assets or fund balances, end of year
- $6,737,850
- Program services expenses (Part IX)
- $1,406,045
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,406,045
Program services were 100.0% 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: INTEREST
total $1,096,931 · related or exempt $1,096,931
-
2b · Program service revenue: INTERCHANGE FEE
total $77,267 · related or exempt $77,267
-
2c · Program service revenue: FEE INCOME
total $74,728 · related or exempt $74,728
-
3 · Investment income
total $514,506 · related or exempt $514,506
-
7a · Gross sales of assets other than inventory
other assets $3,000
-
7b · Less cost or other basis and sales expenses
other assets $8,197
-
7c · Gain or loss
other assets -$5,197
-
7d · Net gain or loss
total -$5,197 · related or exempt -$5,197
-
11a · Other revenue: GAIN (LOSS) ON SALE OF ASSET
total $5,197 · related or exempt $5,197
-
11e · Other revenue, total
$5,197
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $74,031 · program services $74,031
-
7 · Other salaries and wages
total $423,457 · program services $423,457
-
8 · Pension plan contributions
total $37,141 · program services $37,141
-
9 · Other employee benefits
total $93,268 · program services $93,268
-
10 · Payroll taxes
total $39,024 · program services $39,024
-
11c · Fees: accounting
total $13,771 · program services $13,771
-
11g · Fees: other
total $84,108 · program services $84,108
-
13 · Office expenses
total $41,659 · program services $41,659
-
16 · Occupancy
total $33,561 · program services $33,561
-
19 · Conferences, conventions and meetings
total $600 · program services $600
-
20 · Interest
total $91,568 · program services $91,568
-
22 · Depreciation, depletion and amortization
total $85,755 · program services $85,755
-
24a · Other expenses: ATM FEES
total $109,722 · program services $109,722
-
24b · Other expenses: DATA PROCESSING
total $102,325 · program services $102,325
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $49,243 · program services $49,243
-
24d · Other expenses: TRAVELERS SERVICE CHARGE
total $31,445 · program services $31,445
-
24e · All other expenses
total $95,367 · program services $95,367
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $829,535 · end of year $595,770
-
2 · Savings and temporary cash investments
beginning of year $17,022,514 · end of year $19,169,888
-
5 · Loans and receivables from officers and key people
beginning of year $74,672 · end of year $139,492
-
7 · Other notes and loans receivable
beginning of year $16,759,335 · end of year $16,812,577
-
9 · Prepaid expenses and deferred charges
beginning of year $43,694 · end of year $32,349
-
10a · Land, buildings and equipment: cost or other basis
$2,468,262
-
10b · Land, buildings and equipment: accumulated depreciation
$1,338,504
-
10c · Land, buildings and equipment, net
beginning of year $1,202,857 · end of year $1,129,758
-
15 · Other assets
beginning of year $751,512 · end of year $754,738
-
17 · Accounts payable and accrued expenses
beginning of year $123,001 · end of year $290,256
-
25 · Other liabilities
beginning of year $30,360,235 · end of year $31,606,466
-
31 · Retained earnings, endowment or other funds
beginning of year $6,200,883 · end of year $6,737,850
Mission and programs · 2025
Mission
PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT OPERATIONS.
-
PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT OPERATION.
Expenses $1,406,045 · Revenue $1,248,926
As filed on the 2025 return.
Listed in Part VII
-
Hilary FountainHILARY FOUNTAIN
MANAGER / CE
- Total calculated
- $88,706
- From this org
- $74,031
- From related orgs
- $0
- Other
- $14,675
- Hours/week
- 40
-
Keith BergumKEITH BERGUM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rebecca FarrellREBECCA FARRELL
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Susan GableSUSAN GABLE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Christa MartinCHRISTA MARTIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Craig MillerCRAIG MILLER
CURRENT PRES
- Total calculated
- $0
- Hours/week
- 1
-
Eldon SeamanELDON SEAMAN
FORMER PRESI
- Total calculated
- $0
- Hours/week
- 1
-
Michael SkinnerMICHAEL SKINNER
VICE PRESIDE
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 31 July 2026
- IRS schema version
- 2025v4.0
- Source object
- 202602159349300820
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