Credit Unions Chartered In the State of Michigan
501(c)(14)
Strong reserves Growing revenue
Credit Unions Chartered In the State of Michigan is a 501(c)(14) organization based in Dearborn, Michigan, registered in 1956, with $270,939,748 in FY2024 revenue.
400 Town Center Drive, Dearborn, MI, 48126 EIN 38-1350130 Since 1956
Revenue (FY2024)
$270.9M
▲ 14.0% vs prior year
Expenses (FY2024)
$228.1M
Net assets
$493.4M
Employees
762
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Capped at A — the top grade requires the fuller disclosure of a complete Form 990.
How the rating works →—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 rating26 mo reserves · +16% 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: 26 mo reserves · +16% 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 →
A+Transparency10% of the rating5 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: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products.
What they do
Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products.
Contact & location
Financial trends
Revenue grew from $125.7M (FY2013) to $270.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $6.2BNet assets $493.4M
Operating margin
15.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$6.7B
Total liabilities
$6.2B
Net assets
$493.4M
Salaries & benefits
$65.9M
29% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $270,939,748▲14.0% | $228,057,335▲20.8% | $493,359,767▲30.5% | $6,661,513,708▲6.4% | 990 |
| 2023 | $237,737,792▲32.1% | $188,819,360▲44.2% | $378,038,398▲62.2% | $6,261,595,415▲4.3% | 990 |
| 2022 | $179,964,241▼0.7% | $130,926,227▲12.2% | $233,129,509▼68.6% | $6,001,741,823▼7.0% | 990 |
| 2021 | $181,284,426▲0.8% | $116,707,976▼6.1% | $741,935,472▼8.2% | $6,455,380,939▲11.0% | 990 |
| 2020 | $179,910,846 | $124,306,089▼0.7% | $808,521,548▲22.4% | $5,816,690,338▲18.6% | 990 |
| 2019 | $179,907,993▲10.2% | $125,126,049▲6.4% | $660,317,938▲26.6% | $4,902,627,772▲5.0% | 990 |
| 2018 | $163,299,198▲8.9% | $117,565,643▲6.8% | $521,425,406▲7.6% | $4,666,977,816▲0.9% | 990 |
| 2017 | $149,893,841▲11.5% | $110,116,307▲6.9% | $484,449,351▲4.3% | $4,627,489,950▲6.1% | 990 |
| 2016 | $134,385,499▲6.0% | $102,977,242▲4.5% | $464,575,967▲4.6% | $4,361,805,933▲8.5% | 990 |
| 2015 | $126,837,999▼0.6% | $98,523,921▲0.4% | $444,282,802▲4.2% | $4,020,597,185▲7.4% | 990 |
| 2014 | $127,558,320▲1.5% | $98,161,836▲5.5% | $426,328,061▲11.4% | $3,743,065,590▲5.8% | 990 |
| 2013 | $125,668,844 | $93,039,693▼5.0% | $382,644,600▼4.6% | $3,537,534,582▲5.2% | 990 |
| 2012 | — | $97,977,732▼11.8% | $400,919,901▲5.9% | $3,363,872,621▲9.5% | 990 |
| 2011 | — | $111,083,021▼8.9% | $378,553,453▲4.5% | $3,073,083,582▲3.0% | 990 |
| 2010 | — | $121,947,418 | $362,164,825 | $2,984,815,013 | 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: Brad Sova — $1,558,279 (0.68% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Brad Sova | Financial Consultant | 40 | $1,558,279 |
| Ryan Goldberg | Ceo | 40 | $1,401,942 |
| John Friday | Financial Consultant | 40 | $613,388 |
| Jack Barrett | Florida Market & Chief Cl Officer | 40 | $573,223 |
| Keri Boyd | Chief Retail Service Officer | 40 | $554,895 |
| John Chapel-pearch | Cfo | 40 | $553,697 |
| Vince Pittiglio | Cio | 40 | $553,381 |
| Patrick Maher | President Dfcu Financial Partners | 40 | $509,697 |
| Louis Petrucco | Financial Consultant | 40 | $500,301 |
| Brian Mell | Financial Consultant | 40 | $495,539 |
| Annetta May | Board Member | 1 | — |
| Cama Cureton | Board Member | 1 | — |
| Donald Tomford | Board Secretary | 1 | — |
| James Cowper | Board Member Chairperson | 1 | — |
| John Sinelli | Board Member | 1 | — |
| Keith Moss | Board Member Vice Chair | 1 | — |
| Margaret Dimond | Board Member | 1 | — |
| Matt Elsey | Board Treasurer | 1 | — |
| Shirley Ghannam | Board Member | 1 | — |
Grants made · $146K in FY2024
9 grants totaling $146K in FY2024. All grants made by Credit Unions Chartered In the State of Michigan →
| Recipient | Purpose | Amount |
|---|---|---|
| United Shore Professional Baseball Legue | Donate to communities where we do business | $35,000 |
| University of Michigan | Support communities where we do business. | $25,000 |
| The Henry Ford | Donation made in communities where we do business to better the community | $20,000 |
| Childrens Hospital of Michigan Foundation | Donation to support communities we do business in. | $15,000 |
| Gathering LLC | — | $13,463 |
| Henry Ford Health System | Support organizations where we do business to better the community | $12,500 |
| Bess the Book Bus Inc | Donate in communities where we do business to improve communities | $12,000 |
| Dearborn School Foundation | Donate in communities where we do business. | $7,000 |
| Banazi | Donation to better financial literacy in communities. | $6,505 |
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 38-1350130, based in Dearborn, 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 38-1350130.
- How much revenue does Credit Unions Chartered In the State of Michigan report?
- Credit Unions Chartered In the State of Michigan reported $270,939,748 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- 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 $1,558,279, paid to Brad Sova (Financial Consultant).
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Data for Credit Unions Chartered In the State of Michigan (EIN 38-1350130) 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.