CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN (EIN 381686050) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1935

Legal Domicile

Principal Officer

JEFFREY FIELDER

Phone

2693829845

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN, founded in 1935, is a major nonprofit that reported $183.1M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $35.0M, a strong 19% operating margin.

Mission

TO PROVIDE FINANCIAL ADVANTAGES TO OUR MEMBERS THROUGH THE OFFERING OF A FULL RANGE OF FINANCIAL PRODUCTS AND SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,826,265

Program Service Revenue $146,528,131

Investment Income $34,790,379

Other Revenue $0

TOTAL REVENUE $183,144,775

Expense Breakdown

Grants Paid $411,212

Salaries & Benefits $42,434,244

Fundraising Expenses $0

Other Expenses $105,313,676

TOTAL EXPENSES $148,159,132

Year-over-Year Comparison

	2023	2022	Change
Revenue	$183,144,775	$137,191,450	+0.3%
Expenses	$148,159,132	$105,425,178	+0.4%
Net Income	$34,985,643	$31,766,272	+0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

717

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,332,640

Total Directors

Key Employees

$1,443,125

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONNA KALMETA	V. CHAIR/BOD	1.00	Director	$0	$0	$0
RICHARD SEIM	SECRETARY/BOD	1.00	Director	$0	$0	$0
MARTIN DOORN	DIRECTOR/BOD	1.00	Director	$0	$0	$0
NICOLE KALMBACH	CHAIR/BOD	1.00	Director	$0	$0	$0
JAMES BOUMA	DIRECTOR/BOD	1.00	Director	$0	$0	$0
MIKE SEGAL	TREASURER/BOD	1.00	Director	$0	$0	$0
GRACE LUBWAMA	DIRECTOR/BOD	1.00	Director	$0	$0	$0
RAFAEL CASTANEDA	ASSOCIATE DIRECTOR/BOD	1.00	Director	$0	$0	$0
JEFFREY FIELDER	PRESIDENT/CEO	40.00	Officer	$748,057	$261,818	$1,009,875
DUSTIN ADAMS	CHIEF FINANCIAL OFFICER	40.00	Officer	$303,869	$18,896	$322,765
RAYMOND BLACK	CHIEF OPERATING OFFICER	40.00	Key Emp	$355,120	$104,716	$459,836
TIMOTHY MERWIN	CHIEF LENDING OFFICER	40.00	Key Emp	$359,084	$103,758	$462,842
RENAE SISK	CHIEF PEOPLE OFFICER	40.00	Key Emp	$255,350	$15,553	$270,903
JEFFREY BOLSER	CHIEF RETAIL OFFICER	40.00	Key Emp	$220,787	$28,757	$249,544
LINDEN BUCK	VP OF INDIRECT SERVICES	40.00	Highest	$221,044	$24,838	$245,882
ERIC STOLL	VP OF COMMERCIAL SERVICES	40.00	Highest	$203,072	$19,324	$222,396
ROBERT MOORE	VP OF IT	40.00	Highest	$193,109	$41,519	$234,628
NANCY LOFTIS	VP OF MARKETING	40.00	Highest	$196,850	$10,484	$207,334
CHRISTOPHER SCHNEIDER	COMMERCIAL LENDING MANAGER	40.00	Highest	$233,044	$23,421	$256,465

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$183,144,775	$148,159,132	$2,987,053,945	$34,985,643
2022	$137,191,450	$105,425,178	$2,892,338,087	$31,766,272
2021	$117,215,527	$85,384,828	$2,694,606,066	$31,830,699
2020	$119,439,670	$101,627,456	$2,425,158,521	$17,812,214
2019	$113,766,194	$99,620,913	$2,084,525,233	$14,145,281
2018	$103,296,533	$94,062,565	$1,749,022,744	$9,233,968

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN