2024-11-13T13:20:57+00:00 2023-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2023-01-01 380745805 Credit Unions Chartered in the State of MI CASE Credit Union CRED 5173937710 PO Box 22158 Lansing MI 48909 Jeffrey Benson PRESIDENT/CEO 5173937710 2024-11-13 true true Michael Summers P00838533 3173834000 2024-11-15 2023 2024-10-15 13:58:12Z Jeffrey Benson PO Box 22158 Lansing MI 48909 23816392 false X WWW.CASECU.ORG X 1936 MI TO ASSIST MEMBERS AND EMPLOYEES TO ACHIEVE FINANCIAL SUCCESS THROUGH SERVICE THAT IS SUPERIOR, CONVENIENT, AND EASY TO USE. 9 9 156 9 100154 0 0 18573597 21468442 1846208 2347950 0 20419805 23816392 0 1162413 3553265 7851142 7446679 0 0 11244852 12010597 20258407 23010541 161398 805851 396816157 392281189 365426170 360226482 31389987 32054707 TO ASSIST MEMBERS AND EMPLOYEES TO ACHIEVE FINANCIAL SUCCESS THROUGH SERVICE THAT IS SUPERIOR, CONVENIENT, AND EASY TO USE. false false CASE CREDIT UNION OFFERS A WIDE VARIETY OF CONSUMER AND BUSINESS LOAN PRODUCTS TO MEET THE NEEDS OF OUR MEMBERS. THESE LOANS INCLUDE AUTO/RV, PERSONAL, EDUCATIONAL, HOME EQUITY, BUSINESS, 1ST MORTGAGE, AND CREDIT CARDS. OUR LOAN PRODUCTS ARE TAILORED TO FIT THE NEEDS AND WANTS OF OUR MEMBERSHIP AND INCLUDE FEATURES SUCH AS SKIP-A-PAYMENT, COMPETITIVE RATES, AUTOMATIC PAYMENT OPTIONS AND LOAN PROTECTION OPTIONS. LOANS CAN BE APPLIED FOR IN PERSON AT ANY OF OUR SEVEN BRANCHES, BY PHONE, FAX, WEBSITE AND THROUGH DEALER DIRECT LOANS AT MANY AREA DEALERSHIPS. CASE CREDIT UNION HAS OVER 35,000 MEMBERS. OUR MEMBERS ENJOY A WIDE VARIETY OF SAVINGS OPTIONS TO SUIT THEIR INDIVIDUAL NEEDS. WE OFFER SEVERAL SAVINGS AND CHECKING OPTIONS, MONEY MARKET ACCOUNTS, TERM DEPOSITS, IRA'S AND CHRISTMAS CLUB ACCOUNTS. ALL MEMBERS ARE REQUIRED TO MAINTAIN A $5 SHARE DEPOSIT TO CONTINUE THEIR MEMBERSHIP. OUR RATES AND PRODUCT OFFERINGS ARE COMPETITIVE. CASE CREDIT UNION OFFERS A WIDE VARIETY OF ELECTRONIC SERVICES. THE SERVICES ARE FREE FOR MEMBERS. SERVICES INCLUDE BUT ARE NOT LIMITED TO ONLINE BANKING, BILL PAY, MOBILE BANKING, TEXT BANKING, QUICKEN, FINANCE WORKS, TELEPHONE BANKING, CONTACT CENTER, ONLINE LOAN APPLICATIONS, AND POP MONEY (FUNDS TRANSFER). 0 false false false false false false true false true true false false true true false true false false false false false false false false false false false true false true false false false false false false false false true false false false true 5334 0 true 156 true true true false false false false false false false false false false false false false X 9 9 false false false false true true false true true false true true true true true true true true true true false MI X Jeffrey Benson 5173937710 PO Box 22158 Lansing MI 48909 CRAIG GODFREY BOARD VICE CHAIR 2.0 0.0 X X 0 0 0 JANE OLNEY BOARD SECRETARY 2.0 0.0 X X 0 0 0 KAREN SPOTTS BOARD TREASURER 2.0 0.0 X X 0 0 0 WILLIAM BREWER II BOARD CHAIR 2.0 0.0 X X 0 0 0 APRIL CLARK BOARD MEMBER 2.0 0.0 X 0 0 0 BALDOMERO GARCIA BOARD MEMBER 2.0 0.0 X 0 0 0 GLORY LEDU BOARD MEMBER 2.0 0.0 X 0 0 0 RENIERO AROAZ BOARD MEMEBER 2.0 0.0 X 0 0 0 SAMUEL DUNCAN BOARD MEMBER 2.0 0.0 X 0 0 0 BRYANNA BENOIT CFO 50.0 0.0 X 116747 0 4793 CHAD ROLSTON EVP/CIO 50.0 0.0 X 180135 0 7377 CORRIE JAMESON CRMO 50.0 0.0 X 99952 0 4000 JEFFREY BENSON PRESIDENT AND CEO 50.0 0.0 X 345323 0 12540 KEVIN BADGE CHRO 50.0 0.0 X 138515 0 5864 RACHAEL SINGLETON EVP/COO 50.0 0.0 X 181711 0 6113 BRETT PACEK BUSINESS DEVELOPMENT OFFICER 50.0 0.0 X 116667 0 5089 DANIEL J AUSTIN VICE PRESIDENT BUSINESS SERVICES 50.0 0.0 X 131528 0 5351 1310578 0 51127 9 false true false 0 0 INTEREST ON LOANS 522100 16476055 16476055 FEE INCOME 522100 2503354 2503354 OTHER NON-INTEREST INCOME 522100 2388879 2388879 NON-MEMBER FINANCIAL ADVISORY 522100 74966 74966 NON-MEMBER ATM TRANSACTIONS 522100 25188 25188 0 0 0 0 21468442 2347950 2347950 0 0 0 0 0 0 0 0 0 23816392 21368288 100154 2347950 3553265 1361705 4516777 202679 866560 498958 93614 256567 403363 339928 3010932 720154 41574 28169 1022311 1075086 59578 LOAN LOSS PROVISION 1415000 LOAN SERVICES 2251628 MEMBER STATEMENT DATA MAIL 245662 ATM EXPENSES 90025 957006 23010541 5421916 3940805 1989635 16863382 645458 962460 8028814 8336626 0 0 313846355 299530235 22689781 12397477 10851951 10292304 49652175 45139583 0 6379853 7215794 396816157 392281189 7373524 6549098 557779 223871 0 0 357494867 353453513 365426170 360226482 X 31389987 32054707 31389987 32054707 396816157 392281189 X 805851 1268027 -1409158 X false true X true false false true X 4281688 4281688 9150116 4892437 4257679 8986640 7505040 1481600 271337 271337 10292304 Mortgage Backed Securities 31893659 SBA Securities 11030024 FHLB Stock 1615900 Member Cap Acct in Corporate 600000 45139583 Members' Shares 325453513 FHLB Advance 28000000 353453513 X 23816392 0 0 23816392 0 0 23816392 23010541 0 0 23010541 0 0 23010541 Schedule D, Part IV, Line 2b Explanation of escrow agreement ESCROW ACCOUNTS ARE UTILIZED TO COLLECT FUNDS FROM MEMBERS FOR THE PURPOSE OF PAYING REAL ESTATE TAXES AND INSURANCE ON REAL ESTATE LOANS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X true true X X X X X false true false JEFFREY BENSON PRESIDENT AND CEO 328823 0 16500 0 0 0 12540 0 0 0 357863 0 0 0 CHAD ROLSTON EVP/CIO 166978 0 13157 0 0 0 7377 0 0 0 187512 0 0 0 RACHAEL SINGLETON EVP/COO 168498 0 13213 0 0 0 6113 0 0 0 187824 0 0 0 Schedule J, Part I, Line 1a Travel for companions BOARD OF DIRECTOR MEMBERS RECEIVE TRAVEL REIMBURSEMENT FOR COMPANIONS WHEN TRAVELING ON CREDIT UNION BUSINESS OR EDUCATION TRIPS. FORM 1099S ARE ISSUED IF THE FAIR MARKET VALUE EXCEEDS FILING THRESHOLDS. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan THE ORGANIZATION DEPOSITED FUNDS INTO A LIFE INSURANCE POLICY ON THE PARTICIPANT'S LIFE. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, THE PARTICIPANT CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS. THE PLAN ORIGINATED IN 2016 AND THERE WERE NO CONTRIBUTIONS MADE TO THE PLAN DURING 2023. Jeff Benson President/CEO Purchase Life Insurance X 4000000 4858857 false true true 4858857 Form 990, Part VI, Line 6 Classes of members or stockholders ALL MEMBERS OWNING A SHARE ACCOUNT ARE MEMBERS OF THE CREDIT UNION. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body ALL MEMBERS OF THE CREDIT UNION ARE OWNER MEMBERS. AS SUCH, EACH MEMBER HAS ONE VOTE DURING THE ANNUAL ELECTION OF BOARD OF DIRECTOR MEMBERS. Form 990, Part VI, Line 11b Review of form 990 by governing body AFTER BEING PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE BOARD OF DIRECTORS, AUDIT COMMITTEE, AND OFFICERS OF THE CREDIT UNION FOR REVIEW PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy ALL CONTRACTS ENTERED INTO MUST BE APPROVED BY SENIOR MANAGEMENT. GIFTS ARE NOT TO BE ACCEPTED. IF GIFTS ARE ACCEPTED, THEY ARE TO BE REPORTED TO SENIOR MANAGEMENT OR THE BOARD OF DIRECTORS. BOARD MEMBERS, AND ALL OFFICERS AND EMPLOYEES ANNUALLY SIGN THE CREDIT UNION'S CODE OF CONDUCT, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE HUMAN RESOURCES DEPARTMENT. IF A CONFLICT IS PRESENT, IT IS PRESENTED TO THE PRESIDENT/CEO TO DETERMINE APPROPRIATE RESOLUTION. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD OF DIRECTORS HAS A FORMAL COMPENSATION COMMITTEE WHO DETERMINES THE COMPENSATION PACKAGE OF THE PRESIDENT/CEO ON AN ANNUAL BASIS. THE COMMITTEE USES COMPARABILITY DATA FROM CREDIT UNION CONSULTANTS TO DETERMINE COMPENSATION. THIS REVIEW WAS LAST CONDUCTED IN JANUARY 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees CASE CREDIT UNION COMPARES ALL POSITIONS IN THE CREDIT UNION TO THE OTHER CREDIT UNIONS THROUGHOUT MICHIGAN AND SETS COMPENSATION ACCORDINGLY. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE UPON REQUEST TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED IN THE LOBBIES OF EACH BRANCH, ANNUAL REPORTS ARE AVAILABLE AT THE ANNUAL MEMBERSHIP MEETING, AND THE QUARTERLY CALL REPORT IS POSTED PUBLICLY ON THE NCUA'S WEBSITE. Form 990, Part XI, Line 9 MEMBERSHIP FEES ARE A CHARGE TO BECOME PART OF THE MEMBERSHIP OF CASE CREDIT UNION AND ARE NOT TREATED AS INCOME. THE FUNDS FROM THE MEMBERSHIP FEE ARE DIRECTLY ADDED TO EQUITY FOR EVERY MEMBERSHIP ACCOUNT THAT IS OPENED DURING THE YEAR AS OWNERSHIP WITHIN THE ORGANIZATION. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CECL ADJUSTMENT (ASC 3260) - -1367066; POSTRETIREMENT BENEFIT PLANS - -42092; EDUCATED SOLUTIONS LLC PO BOX 22158 LANSING MI 48909 383548361 CONSULTING MI 24 47162 NA