Credit Unions Chartered In The State Of Michigan

Organization Overview

Credit Unions Chartered In The State Of Michigan is located in Sterling Heights, 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 12/2021, Credit Unions Chartered In The State Of Michigan employed 224 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 $33.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $28.3m during the year ending 12/2021. 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

AT CHRISTIAN FINANCIAL CREDIT UNION, OUR MISSION IS TO PROVIDE AN ENVIRONMENT THAT DELIVERS HIGH-QUALITY PRODUCTS AND SERVICES THAT PROMOTE CONVENIENCE, TRUST, AND PERSONAL SERVICE TO ASSIST OUR MEMBERS IN ACHIEVING THEIR FINANCIAL SUCCESS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CREDIT UNION ORIGINATED $196.6 MILLION IN LOANS TO MEMBERS DURING 2021. LOANS ARE GENERALLY ORIGINATED AT BELOW MARKET INTEREST RATES HIGHLIGHTING MEMBER LOYALTY.


THE CREDIT UNION COMPLETED A SYSTEM CONVERSION IN 2015 . THE SYSTEM CONTINUES TO IMPROVE THE MEMBER EXPERIENCE THROUGH THE OFFERING OF PRODUCTS SUCH AS LENDING AND ACCOUNT ORIGINATIONS ONLINE AND MOBILE BANKING.


THE CREDIT UNION OFFERS CONVENIENT DELIVERY CHANNELS FOR MEMBERS WHERE WE FULLY ABSORB THE COST OF THE ABILITY TO USE 30,000 ATMS, ACCESS TO THE SHARED BRANCHING NETWORK WITH OVER 5,600 OUTLETS NATIONWIDE, FREE ACCESS TO ONLINE BANKING AND BILL PAYMENT FOR ALL CONSUMERS.


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Outside Vendors & Contractors

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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$29,170,790
Investment income $2,171,687
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $18,381
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $33,417,719

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