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 Clinton Twp, Michigan, registered in 1956, with $159,278,248 in FY2023 revenue. CharityIndex grades it A.
40400 Garfield Rd, Clinton Twp, MI, 48038 EIN 38-1629793 Since 1956
Revenue (FY2023)
$159.3M
▲ 25.7% vs prior year
Expenses (FY2023)
$139.7M
Net assets
$430.8M
Employees
535
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 rating37 mo reserves · +12% 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: 37 mo reserves · +12% 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 →
ATransparency10% of the rating4 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: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Founded by educators, michigan schools and government credit union has been providing quality financial services for 69 years and welcomes everyone in michigan to bank with us. as a not-for-profit, we give back to our members through better rates, fewer fees, free financial education, grants, scholarships, and community support. we work with our members to personalize plans and offer products and services to help meet their financial goals and increase their financial knowledge. msgcu offers a full range of loan, deposit, checking, credit card, mortgage, and insurance products. with 22 branches in macomb, oakland, wayne and washtenaw counties, msgcu has more than 149,000 members, over 450 team members, $3.6 billion in assets, and earned a 95% or higher member satisfaction rating for over 20 years. msgcu has also earned five stars, as reported by bauer financial, for more than 30 years, and has been honored as a top workplace by the detroit free press for the past 11 years.
What they do
The credit union contributed over $108,000 to members of the communities in southeast michigan. msgcu awarded $80,000 through 32 scholarships to high school seniors heading to college, aspiring skilled tradespersons seeking certification, and current teachers and school administrators pursuing continuing education. additionally, msgcu donated $28,000 to first responders graduating from the fire and police academies at macomb community college, oakland community college, wayne community college and schoolcraft college.
The credit union gave back to our communities, to local educators and schools as well as nonprofits and community organizations. msgcu's classroom cash grant program provides funds to teachers to be used for otherwise unfunded innovative classroom projects. in 2023, msgcu awarded 64 grants totaling more than $45,000 to local educators to be used during the 2023/2024 school year.
Contact & location
- Address
- 40400 Garfield Rd, Clinton Twp, MI, 48038
- City
- Clinton Twp
- State
- Michigan
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $57.5M (FY2013) to $159.3M (FY2023) across 7 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $3.2BNet assets $430.8M
Operating margin
12.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.6B
Total liabilities
$3.2B
Net assets
$430.8M
Salaries & benefits
$41.3M
30% of expenses
Board members
10
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $159,278,248▲25.7% | $139,729,726▲68.0% | $430,838,317▲7.6% | $3,633,913,845▲9.0% | 990 |
| 2022 | $126,760,665▲13.0% | $83,153,428▼4.3% | $400,392,886▲25.2% | $3,333,677,668▲20.0% | 990 |
| 2020 | $112,129,376▲49.0% | $86,925,206▲63.4% | $319,776,061▲55.5% | $2,777,350,124▲65.9% | 990 |
| 2016 | $75,254,277▲9.6% | $53,187,529▲2.4% | $205,612,716▲12.0% | $1,674,185,767▲7.5% | 990 |
| 2015 | $68,673,747▼0.6% | $51,943,429▼7.4% | $183,546,860▲9.6% | $1,556,767,455▲0.8% | 990 |
| 2014 | $69,103,677▲20.2% | $56,088,998▲31.1% | $167,533,144▲8.4% | $1,543,993,714▲7.1% | 990 |
| 2013 | $57,481,828 | $42,774,379▲21.1% | $154,518,465▲10.5% | $1,441,874,463▲16.7% | 990 |
| 2012 | — | $35,335,335▼20.3% | $139,811,016▲11.8% | $1,235,168,777▲8.8% | 990 |
| 2011 | — | $44,343,578▼4.8% | $125,016,685▲4.8% | $1,135,729,081▲7.8% | 990 |
| 2010 | — | $46,567,341 | $119,342,431 | $1,053,325,383 | 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 (FY2023)
Highest-paid: Steve Brewer — $711,644 (0.51% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Steve Brewer | President/ceo | 40 | $711,644 |
| Philip Cooper | Clo | 40 | $406,547 |
| Deborah Fahrney | Coo | 40 | $394,784 |
| Bryan Wieglat | Cio | 40 | $306,073 |
| Ann Jones | Vp Marketing/business Development | 40 | $264,993 |
| Vallorie Mcbride | Cfo | 40 | $235,896 |
| Richard Maierle | Director | 1 | $5,609 |
| Elizabeth Argiri | Treasurer | 1 | $3,383 |
| Douglas Smith | Vice Chairperson | 1 | $1,515 |
| Charles Thomas | Director | 1 | $1,072 |
| Christina Ayar | Director | 1 | — |
| Edward Callaghan | Director | 1 | — |
| James Mccann | Director | 1 | — |
| Richard Shoemaker | Secretary | 1 | — |
| Teresa Dimaria | Director | 1 | — |
| William Cayen | Chairperson | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Kasco Inc | Construction Services | $8,382,367 |
| Brogan & Partners | Marketing | $1,795,248 |
| Ahead Inc (service Now) | Technology | $1,738,219 |
| Diebold Nixdorf Inc | Technology | $1,581,126 |
| Doxim Inc | Document Solutions | $734,618 |
Grants made · $24K in FY2023
3 grants totaling $24K in FY2023. All grants made by Credit Unions Chartered In the State of Michigan →
| Recipient | Purpose | Amount |
|---|---|---|
| Oakland Community College Foundation | To assist in the foundation's initiative to fund educational solutions scholarships for first responders | $8,000 |
| Macomb Community College Foundation | To assist in the foundation's initiative to fund educational solutions scholarships for first responders | $8,000 |
| Schoolcraft College Foundation | To assist in the foundation's initiative to fund educational solutions scholarships for first responders | $8,000 |
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 38-1629793, based in Clinton Twp, 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 38-1629793.
- How much revenue does Credit Unions Chartered In the State of Michigan report?
- Credit Unions Chartered In the State of Michigan reported $159,278,248 in total revenue on its fiscal year 2023 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 $711,644, paid to Steve Brewer (President/ceo).
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Data for Credit Unions Chartered In the State of Michigan (EIN 38-1629793) 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.