Credit Unions Chartered In the State of Michigan
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Credit Unions Chartered In the State of Michigan is a 501(c)(14) organization based in Brighton, Michigan, registered in 1956, with $146,404,003 in FY2024 revenue. CharityIndex grades it A.
4605 S Old Us Highway 23, Brighton, MI, 48114 EIN 38-1250516 Since 1956
Revenue (FY2024)
$146.4M
▲ 20.1% vs prior year
Expenses (FY2024)
$135.2M
Net assets
$237.5M
Employees
561
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Credit Unions Chartered In the State of Michigan— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating21 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Credit Unions Chartered In the State of Michigan: 21 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Credit Unions Chartered In the State of Michigan: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Credit Unions Chartered In the State of Michigan: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Members will understand and experience the benefits of a credit union (cont'd on sch. o) relationship at a cost justified by the results. members have the capability to exercise control over their financial lives while sharing in the success of the organization. members experience rewards of a mutually beneficial relationship based on advocacy and trust resulting in trust and loyalty. members value the link between their benefits and their ownership.
Contact & location
Financial trends
Revenue grew from $81.6M (FY2013) to $146.4M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $2.4BNet assets $237.5M
Operating margin
7.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.6B
Total liabilities
$2.4B
Net assets
$237.5M
Salaries & benefits
$46.0M
34% of expenses
Board members
12
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $146,404,003▲20.1% | $135,151,985▲20.9% | $237,462,531▲8.1% | $2,640,189,205▲1.7% | 990 |
| 2023 | $121,931,528▲19.5% | $111,804,935▲24.9% | $219,615,849▲9.5% | $2,596,794,878▲0.5% | 990 |
| 2022 | $102,003,770▲3.4% | $89,545,899▲10.8% | $200,605,538▼12.0% | $2,583,730,909▲3.1% | 990 |
| 2021 | $98,643,521▲1.7% | $80,818,201▼7.1% | $228,046,112▲5.7% | $2,506,983,660▲11.8% | 990 |
| 2020 | $96,956,061▲1.3% | $86,955,594▲0.7% | $215,836,463▲5.3% | $2,241,849,498▲16.9% | 990 |
| 2019 | $95,733,174▲6.5% | $86,386,332▲9.3% | $204,876,633▲6.3% | $1,917,932,508▲3.1% | 990 |
| 2018 | $89,909,737▲9.5% | $79,005,224▲7.7% | $192,682,539▲5.2% | $1,860,352,431▲2.4% | 990 |
| 2017 | $82,079,013▲3.9% | $73,381,377▼0.8% | $183,236,310▲4.1% | $1,817,258,784▲2.4% | 990 |
| 2016 | $78,981,048▲3.5% | $73,986,685▲4.1% | $176,095,861▲2.6% | $1,775,026,639▲5.6% | 990 |
| 2015 | $76,304,043▼2.8% | $71,103,235▲2.1% | $171,639,300▲2.9% | $1,680,739,543▲5.7% | 990 |
| 2014 | $78,507,378▼3.8% | $69,624,734▼3.6% | $166,731,620▲6.5% | $1,589,835,396▲0.2% | 990 |
| 2013 | $81,572,071 | $72,204,231▼7.1% | $156,555,479▲2.8% | $1,587,017,315▲1.6% | 990 |
| 2012 | — | $77,716,068▼5.8% | $152,279,251▲6.9% | $1,562,253,286▲3.0% | 990 |
| 2011 | — | $82,468,710▼2.7% | $142,483,786▲4.9% | $1,516,907,106▼1.8% | 990 |
| 2010 | — | $84,779,047 | $135,797,177 | $1,545,179,113 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: David Snodgrass — $1,002,892 (0.74% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David Snodgrass | Ceo and President | 40 | $1,002,892 |
| Kara Stuewe | Evp Chief Financial Officer | 40 | $316,280 |
| Krassimir Kassbov | Evp Chief Strategy Officer | 40 | $296,649 |
| Razi Qadri | Evp Chief Info & Ops Officer | 40 | $286,522 |
| Theresa Dubiel | Evp Chief Member Experience Officer | 40 | $271,158 |
| Omari Boone | Evp General Counsel Cro | 40 | $266,569 |
| Brandalynn Winchester-middlebrook | Evp Chief People & Purpose Officer | 40 | $252,042 |
| David Morgan | Evp Chief Lending Officer | 40 | $250,325 |
| Aaron Seybert | Director | 4 | $11,633 |
| Kathryn Rusak | Secretary | 5 | $11,193 |
| Jamie Schriner | Director | 4 | $7,464 |
| Shane Lovellette | Director | 4 | $5,333 |
| Monica Martinez | Director | 4 | $3,980 |
| Philip Santer | Director | 4 | $3,810 |
| Dennis Tochman | Director | 4 | $1,890 |
| James Barnes | Director | 4 | $1,596 |
| Michael Solo | Chairperson | 10 | $1,115 |
| Rick Laber | Director | 4 | $675 |
| Julie Bonner-heine | Vice Chairperson | 4 | — |
| Ray Seidl | Treasurer | 10 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Fiserv | Core System Provider & Debit/atm/credit | $5,677,810 |
| The Christman Company | Construction and Remodeling Services | $3,983,772 |
| Informa Business Systems | Atm Equipment and Maintenance | $1,837,170 |
| Phire Advertising & Design | Media Campaigns and Advertising | $1,765,678 |
| Digital First Holdings LLC | Internet Banking Tools | $1,508,749 |
Grants made · $349K in FY2024
22 grants totaling $349K in FY2024 — showing the 15 largest. All grants made by Credit Unions Chartered In the State of Michigan →
| Recipient | Purpose | Amount |
|---|---|---|
| Lake Trust Credit Union Foundation | Lake trust foundation annual donation | $100,000 |
| Downtown Lansing Inc | Big red ball vitality, middle village annual, & macotta club accelerator program sponsorships | $42,175 |
| Greater Brighton Area Chamber of Commerce | Sponsorships: brighton street fair, livingston cty chmbr champion sponsor | $17,750 |
| Gleaners Community Food Bank of Southeastern Michigan | Womens power breakfast & hartland school mobile food pantry | $17,448 |
| Allen Neighborhood Center | Eastside lansing food co-op, seed festival, & kitchen incu yr 5 naming sponsorships | $13,750 |
| Salvation Army | Livingston cty capital campaign pledge | $12,500 |
| Greater Lansing Area Holiday Commission | 2024 diversity partner sponsorship | $12,500 |
| Michigan State Chamber Foundation | 2024 mi athena leadership summit table & presenting level sponsor | $12,375 |
| Lacasa | Capital campaign 2024 & gala ad space | $10,350 |
| No Senior Without Christmas | No senior without christmas platinum sponsor | $10,000 |
| Greater Lansing Food Bank | 16th empty plate sponsor | $10,000 |
| Food Gatherers | 2025 summer food service program sponsor | $10,000 |
| Economic Development Council of Livingston County | Annual membership | $10,000 |
| Work Skills Foundation | 2024 vision partner renewal | $10,000 |
| Chadtough Defeat Dipg Foundation | 2024 chadtough gala sponsorship | $10,000 |
Frequently asked questions
- Is Credit Unions Chartered In the State of Michigan a legitimate nonprofit?
- Yes. Credit Unions Chartered In the State of Michigan is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 38-1250516, based in Brighton, Michigan.
- What is Credit Unions Chartered In the State of Michigan's EIN?
- Credit Unions Chartered In the State of Michigan's Employer Identification Number (EIN) is 38-1250516.
- How much revenue does Credit Unions Chartered In the State of Michigan report?
- Credit Unions Chartered In the State of Michigan reported $146,404,003 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Credit Unions Chartered In the State of Michigan have?
- CharityIndex grades Credit Unions Chartered In the State of Michigan A, based on financial health (reserves and operating margin).
- How much does Credit Unions Chartered In the State of Michigan's highest-paid employee make?
- The highest reported compensation on Credit Unions Chartered In the State of Michigan's latest Form 990 is $1,002,892, paid to David Snodgrass (Ceo and President).
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Data for Credit Unions Chartered In the State of Michigan (EIN 38-1250516) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.