Michigan Credit Union League
- Assets
- $88.3m
- Revenue
- $4.2m
- Investments
- $73.0m
- Employees
- 29
- Location
- Plymouth, MI
- Founding
- 01/1944
- Data as of
- 12/2021
- EIN
- 38-0826778
Organization Overview
Michigan Credit Union League is located in Plymouth, MI. The organization was established in 1944. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Michigan Credit Union League employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Credit Union League is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Michigan Credit Union League generated $4.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Michigan Credit Union League has awarded 20 individual grants totaling $355,395. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ADVOCACY AND SUPPORT TO HELP CREDIT UNIONS SUCCEED AND ENRICH THE LIVES OF THEIR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFER SUPPORT AND PROVIDE ADVOCACY TO AFFILIATED CREDIT UNIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Corkery Evp/ceo | Officer | 45 | $353,364 |
Wendy Vadnais CFO | Officer | 5 | $222,199 |
Renee Werth Evp League Services | 37.5 | $174,846 | |
Heather Luciani Chairwoman | OfficerTrustee | 0.5 | $0 |
Dean Trudeau Vice Chairman | OfficerTrustee | 0.5 | $0 |
Carma Peters Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Duffey Petrosky Media And Creative Services | 12/30/21 | $121,980 |
Cusg Marketing Solutions Llc Media And Creative Services | 12/30/21 | $160,809 |
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 | $2,248,997 |
| Investment income | $526,065 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,447,886 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,235,709 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $623,288 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,166,543 |
| Pension plan accruals and contributions | $12 |
| Other employee benefits | -$70,201 |
| Payroll taxes | $176,939 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,413 |
| Fees for services: Accounting | $41,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,727 |
| Fees for services: Other | $0 |
| Advertising and promotion | $111,144 |
| Office expenses | $110,564 |
| Information technology | $19,354 |
| Royalties | $0 |
| Occupancy | $169,430 |
| Travel | $89,975 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $508,876 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164,337 |
| Insurance | $2,487 |
| All other expenses | $0 |
| Total functional expenses | $4,366,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,980,996 |
| Savings and temporary cash investments | $306,760 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,338 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $235,822 |
| Net Land, buildings, and equipment | $62,777 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $73,032,873 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,698,834 |
| Total assets | $88,338,400 |
| Accounts payable and accrued expenses | $1,189,658 |
| Grants payable | $0 |
| Deferred revenue | $242,521 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $439,703 |
| Total liabilities | $1,871,882 |
| Net assets without donor restrictions | $86,466,518 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $88,338,400 |
Grants Awarded
Over the last fiscal year, Michigan Credit Union League has awarded $35,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: SUPPORT FOR CREDIT UNION MOVEMENT-INSPIRE CHANGE, IGNITE PASSION, AND RESPOND TO DISASTER | $15,000 |
Plymouth, MI PURPOSE: PARTICIPATION IN EDUCATIONAL/LEADERSHIP OPPORTUNITIES FOR MI CU STAFF AND VOLUNTEERS. | $15,000 |
COALITION TO INTEGRATE TECHNOLOGY PURPOSE: SPONSORSHIP SHERRY GAY-DAGNOGO DETROIT CHARITY EVENT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan Credit Union League has recieved totaling $5,300.
| Awarding Organization | Amount |
|---|---|
Michigan Credit Union Foundation Plymouth, MI PURPOSE: COMMUNITY ENRICHMENT GRANTS | $5,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Union Executives Society Madison, WI | $8,321,099 | $11,726,194 |
World Council Of Credit Unions Inc Madison, WI | $4,821,097 | $12,974,167 |
Indiana Statewide Association Of Rural Electrics Cooperatives Inc Indianapolis, IN | $6,936,351 | $8,918,869 |
County Commissioners Association Of Ohio Columbus, OH | $7,535,269 | $6,334,760 |
Michigan Credit Union League Plymouth, MI | $88,338,400 | $4,235,709 |
Michigan Townships Association Lansing, MI | $8,385,951 | $4,347,332 |
Wisconsin Credit Union League Inc Madison, WI | $8,422,290 | $3,629,838 |
Indiana Credit Union League Indianapolis, IN | $12,146,566 | $3,384,464 |
Michigan Rural Water Association Okemos, MI | $1,869,015 | $2,731,981 |
Wisconsin Rural Water Association Inc Plover, WI | $3,269,363 | $2,411,727 |
Ohio Mid-Eastern Governments Assoc Cambridge, OH | $3,634,149 | $2,144,130 |
Telecommunications Association Of Michigan Lansing, MI | $1,516,813 | $1,189,195 |