Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Lansing, MI. The organization was established in 1956. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Credit Unions Chartered In The State Of Michigan employed 188 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions Chartered In The State Of Michigan is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Credit Unions Chartered In The State Of Michigan generated $46.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $37.0m during the year ending 12/2021. While expenses have increased by 3.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COOPERATIVE FINANCIAL INSTITUTION - CREDIT UNION PROVIDING LOANS AND SAVINGS PRODUCTS AND SERVICES TO MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SAVINGS PRODUCTS - PRIMARY MEMBER SERVICE STAFF/50% BRANCH OPERATIONS/CONTACT CENTER.


LENDING PRODUCTS - LOAN STAFFING AND SUPPORT SERVICES, COLLECTION STAFFING.


CASH OPERATIONS - 50% BRANCH OPERATIONS, SUPPORT SERVICES - ACCOUNTING.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Informa Business Systems Inc
Itm Equipment/service
$2,186,860
Mdt
Core System Processing
$1,788,124
Smith & Johnson Attorneys Pc
Legal/collection Servicess
$545,934
Marquis Software Solutions Inc
Marketing Data
$371,179
Cu Cooperative Systems Inc
Card Processing
$1,828,265
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$43,377,911
Investment income $1,246,204
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $9,080
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $46,684,897

Grants Awarded

Over the last fiscal year, Credit Unions Chartered In The State Of Michigan has awarded $15,000 in support to 2 organizations.

Grant RecipientAmount

THE LANSING PROMISE

Org PageRecipient Profile

Lansing, MI

PURPOSE: CHARITABLE CONTRIBUTION

$7,500

OFF-SHEET MUSIC LLC

PURPOSE: CONTRIBUTION

$7,500
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Credit Unions Chartered In The State Of Michigan has recieved totaling $5,000.

Awarding OrganizationAmount
Michigan Credit Union Foundation

Plymouth, MI

PURPOSE: COMMUNITY CRISIS SUPPORT FUND

$5,000
View Grant Recipient Profile

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