Credit Unions Chartered In The State Of Michigan
- Assets
- $15.0m
- Revenue
- $414.6k
- Investments
- $11.4m
- Employees
- 7
- Location
- Pontiac, MI
- Founding
- Data as of
- 12/2015
- EIN
- 38-0936355
Organization Overview
Credit Unions Chartered In The State Of Michigan is located in Pontiac, MI. As of 12/2015, Credit Unions Chartered In The State Of Michigan employed 7 individuals. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
STATE CHARTERED CREDIT UNION: THE PURPOSE OF THIS CREDIT UNION SHALL BE TO ENCOURAGE THRIFT AMONG ITS MEMBERS, PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED DEBIT CARDS, ATM CARDS, AND OTHER VARIOUS INSURANCE PROGRAMS
PROVIDED 1250 MEMBERS WITH REGULAR SHARE, SHARE DRAFT, CHRISTMAS CLUB, VACATION CLUB, IRAS AND CERTIFICATES OF DEPOSIT
PROVIDED 96 LOANS INCLUDING VEHICLE, PERSONAL, MORTGAGES, HOME EQUITY, AND CREDIT CARD LOANS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clarence Cameron Chairman | OfficerTrustee | 1 | $0 |
Robert Hukka Jr Vice President | OfficerTrustee | 1 | $0 |
Byron Comp II Secretary | OfficerTrustee | 1 | $0 |
Michael P Jozwik Treasurer | OfficerTrustee | 1 | $0 |
Michael Winowiecki Board Member | Trustee | 1 | $0 |
Carolyn Price Board Member/membership Officer | Trustee | 1 | $0 |
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 | $244,659 |
| Investment income | $169,921 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $414,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $111,276 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,719 |
| Pension plan accruals and contributions | $14,489 |
| Other employee benefits | $11,190 |
| Payroll taxes | $12,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,945 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,133 |
| Office expenses | $111,682 |
| Information technology | $54,156 |
| Royalties | $0 |
| Occupancy | $8,485 |
| Travel | $1,171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,731 |
| Interest | $16,279 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,986 |
| Insurance | $10,895 |
| All other expenses | $0 |
| Total functional expenses | $457,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $740,477 |
| Savings and temporary cash investments | $483,799 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,193,421 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,327 |
| Net Land, buildings, and equipment | $10,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,421,007 |
| Investments—program-related | $120,719 |
| Intangible assets | $0 |
| Other assets | $38,884 |
| Total assets | $15,029,091 |
| Accounts payable and accrued expenses | $20,379 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $11,827,883 |
| Total liabilities | $11,848,262 |
| Unrestricted restricted net Assets | $3,180,829 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $3,180,829 |