Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Kalamazoo, MI. The organization was established in 1956. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Credit Unions Chartered In The State Of Michigan employed 274 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 12/2022, Credit Unions Chartered In The State Of Michigan generated $42.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $36.8m during the year ending 12/2022. While expenses have increased by 7.6% 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE CREDIT UNION'S OPERATIONS INCLUDE HOLDING DEPOSITS FOR AND MAKING LOANS TO INDIVIDUALS WHO WORK OR RESIDE IN THE STATE OF MICHIGAN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ALLOWING MEMBERS ACCESS TO CAPITAL THROUGH MORTGAGES, AUTOMOBILE LOANS, AND OTHER CONSUMER LOANS.


ALLOWING MEMBERS DIRECT ACCESS TO THEIR CHECKING ACCOUNT AT MERCHANTS THROUGH OUR DEBIT CARD PROGRAM, AND ALLOWING MEMBERS ACCESS TO CREDIT THROUGH OUR CREDIT CARD PROGRAM.


ALLOWING MEMBERS ACCESS TO OVER 37,000 ATMS THROUGHOUT THE US THROUGH OUR ATM NETWORKING PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Treasurer
$0
Name Not Listed
Chairman
$0
Name Not Listed
Secretary
$0
Name Not Listed
Vice-Chairman
$0
Name Not Listed
Director
$0
Name Not Listed
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv
Core System Processor
$2,530,483
Ice Mortgage Technology
Mortgage Loan Origination Platform
$176,566
Pscu
Credit Card And Debit Card Processor
$3,594,604
Quality Acquisitions Llc
Building Leasing
$208,682
Servicemaster Of Kalamazoo
Commercial Cleaning Services
$162,770
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$38,701,166
Investment income $2,143,657
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$12,784
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $42,599,576

Peer Organizations

Organization NameAssets
Credit Unions Chartered In The State Of Michigan
Auburn Hills, MI
$200,960,128
Credit Unions Chartered In The State Of Michigan
Kalamazoo, MI
$132,085,885
Credit Unions Chartered In The State Of Michigan
Lathrup Village, MI
$123,630,180
Advia Credit Union
Kalamazoo, MI
$137,191,450
Credit Unions Chartered In The State Of Michigan
Brighton, MI
$102,003,770
Credit Unions Chartered In The State Of Michigan
Midland, MI
$89,429,197
Department Of Financial Institution Division Of Credit Unions In Ind
Columbus, IN
$98,960,156
Credit Unions Chartered In The State Of Michigan
Clinton Township, MI
$126,760,665
Forum Credit Union
Indianapolis, IN
$95,569,110
Credit Unions Chartered In The State Of Michigan
Berrien Springs, MI
$90,533,570
37 Kemba Financial Credit Union
Gahanna, OH
$95,459,407
Credit Unions Chartered In The State Of Michigan
Traverse City, MI
$72,347,605
Interra Credit Union
Goshen, IN
$78,567,352
810 Seven Seventeen Credit Union Inc
Warren, OH
$78,190,190
Credit Unions Chartered In The State Of Michigan
Ferndale, MI
$70,267,649
Credit Unions Chartered In The State Of Michigan
Grand Blanc, MI
$86,734,421
Credit Unions Chartered In The State Of Michigan
Frankenmuth, MI
$70,580,613
64 Telhio Credit Union Inc
Columbus, OH
$63,054,320
Credit Unions Chartered In The State Of Michigan
Ann Arbor, MI
$64,479,602
42 Kemba Credit Union Inc
West Chester, OH
$66,359,307
Credit Unions Chartered In The State Of Michigan
Saginaw, MI
$49,757,946
Beacon Credit Union
Wabash, IN
$52,771,406
Indiana University Credit Union
Bloomington, IN
$56,693,244
Credit Unions Chartered In The State Of Michigan
Midland, MI
$44,711,143
Financial Center First Credit Union
Indianapolis, IN
$42,966,700

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