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← CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

Form 990 for tax year 2022

Filed by CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN.

Totals

Total revenue
$1,733,184
Total expenses
$1,258,921
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,381,719
Investment income
$305,541
Other revenue
$45,924
Total assets, end of year
$54,298,473
Total liabilities, end of year
$44,872,932
Net assets or fund balances, end of year
$9,425,541
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: INTEREST ON LOANS TO MEMBERS

    total $1,381,719 · related or exempt $1,381,719

  • 3 · Investment income

    total $305,541 · related or exempt $305,541

  • 11a · Other revenue: FEES AND CHARGES

    total $44,355 · related or exempt $44,355

  • 11b · Other revenue: OTHER OPERATING NCOME

    total $1,569 · related or exempt $1,569

  • 11e · Other revenue, total

    $45,924

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $120,722

  • 7 · Other salaries and wages

    total $242,491

  • 8 · Pension plan contributions

    total $3,856

  • 9 · Other employee benefits

    total $83,128

  • 10 · Payroll taxes

    total $19,102

  • 11c · Fees: accounting

    total $21,227

  • 11g · Fees: other

    total $21,027

  • 12 · Advertising and promotion

    total $11,771

  • 13 · Office expenses

    total $30,081

  • 14 · Information technology

    total $56,072

  • 16 · Occupancy

    total $58,024

  • 17 · Travel

    total $2,469

  • 19 · Conferences, conventions and meetings

    total $1,984

  • 22 · Depreciation, depletion and amortization

    total $25,607

  • 24a · Other expenses: DIV/INT ON DEPOSIT ACCTS

    total $411,324

  • 24b · Other expenses: LOAN SERVICING

    total $57,102

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $21,404

  • 24d · Other expenses: NCUSIF SHARE INSURANCE

    total $17,838

  • 24e · All other expenses

    total $53,692

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,788,844 · end of year $14,109,682

  • 2 · Savings and temporary cash investments

    beginning of year $6,471,209 · end of year $6,930,209

  • 7 · Other notes and loans receivable

    beginning of year $28,059,854 · end of year $30,453,833

  • 10a · Land, buildings and equipment: cost or other basis

    $878,874

  • 10b · Land, buildings and equipment: accumulated depreciation

    $610,694

  • 10c · Land, buildings and equipment, net

    beginning of year $271,817 · end of year $268,180

  • 11 · Investments: publicly traded securities

    beginning of year $823,264 · end of year $1,775,176

  • 15 · Other assets

    beginning of year $624,496 · end of year $761,393

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,140 · end of year $73,777

  • 24 · Unsecured notes and loans payable

    beginning of year $59,184 · end of year $51,518

  • 25 · Other liabilities

    beginning of year $46,907,041 · end of year $44,747,637

  • 31 · Retained earnings, endowment or other funds

    beginning of year $9,034,119 · end of year $9,425,541

Mission and programs · 2022

Mission

COUNTRY HERITAGE CREDIT UNION IS A STATE OF MICHIGAN CHARTERED CREDIT UNION. (SEE BELOW)

  • COUNTRY HERITAGE CREDIT UNION IS A STATE OF MICHIGAN CHARTERED CREDIT UNION. ITS OPERATIONS ARE PRINCIPALLY RELATED TO HOLDING DEPOSITS AND MAKING LOANS TO INDIVIDUALS, BUSINESS ENTITIES, AND GROUPS MEETING THE MEMBERSHIP ELIGIBILITY REQUIREMENTS OF THE CREDIT UNION.

  • COUNTRY HERITAGE CREDIT UNION IS A STATE OF MICHIGAN CHARTERED CREDIT UNION. ITS OPERATIONS ARE PRINCIPALLY RELATED TO HOLDING DEPOSITS AND MAKING LOANS TO INDIVIDUALS, BUSINESS ENTITIES, AND GROUPS MEETING THE MEMBERSHIP ELIGIBILITY REQUIREMENTS OF THE CREDIT UNION.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Kading

    BOARD MEMBER

    Total calculated
    $0

  • William R Messner

    CHAIRPERSON

    Total calculated
    $0

  • Eugene Benedict

    BOARD MEMBER

    Total calculated
    $0

  • Janet S Kuhn

    SECRETARY/TR

    Total calculated
    $0

  • Timothy Q Sullivan

    BOARD MEMBER

    Total calculated
    $0

  • Darren Radde

    BOARD MEMBER

    Total calculated
    $0

  • Malinda Cole-Crocker

    VICE-CHAIRPE

    Total calculated
    $0

  • Frances K Terry

    GENERAL MGR

    Total calculated
    $120,722
    From this org
    $117,722
    From related orgs
    $0
    Other
    $3,000
    Hours/week
    60

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
2022
Filed
15 August 2023
IRS schema version
2022v5.0
Source object
202302279349302765

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