2025-09-16T12:24:54-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 381629793 MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION MICH 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 VALLORIE MCBRIDE CFO 5862638800 2025-09-16 1 0 AUBREY CLEGG P01076395 3052328272 2025-09-12 2024 2025-03-06 01:10:19Z STEVE BREWER 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 221054486 0 1359 X WWW.MSGCU.ORG X CREDIT UNION 1954 MI FOUNDED BY EDUCATORS, MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION HAS BEEN PROVIDING QUALITY FINANCIAL SERVICES FOR 70 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 152,000 MEMBERS, OVER 455 TEAM MEMBERS, $3.9 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 12 YEARS. 11 11 525 11 163402 0 0 0 151938120 189193019 7340128 8790361 0 3615776 159278248 201599156 153074 155575 0 0 41325031 46325203 0 0 0 98251621 130578170 139729726 177058948 19548522 24540208 3633913845 3895584180 3203075528 3431123783 430838317 464460397 WE ARE A CARING ORGANIZATION DEDICATED TO PROMOTING FINANCIAL SUCCESS FOR OUR MEMBERS. 0 0 WITH 22 OFFICES LOCATED THROUGHOUT MACOMB, OAKLAND, WAYNE AND WASHTENAW COUNTIES, PROVIDING FULL ONLINE BANKING AND MOBILE SERVICES, WITH $3.9 BILLION IN ASSETS, $3.3 BILLION IN LOANS, AND A STAFF OF 455 EMPLOYEES, MSGCU IS A VALUED RESOURCE FOR FINANCIAL WELLBEING FOR BOTH CONSUMERS AND BUSINESSES. AT THE END OF 2024, THE CONSUMER LENDING PORTION OF THE PORTFOLIO WAS JUST OVER $1.36 BILLION, THE MORTGAGE PORTFOLIO WAS JUST OVER $1.7 BILLION, AND THE BUSINESS LOAN PORTFOLIO WAS $299 MILLION. MEMBER SHARES TOTALED APPROXIMATELY $3.2 BILLION. THE CREDIT UNION CONTRIBUTED OVER $110,000 TO MEMBERS OF THE COMMUNITIES IN SOUTHEAST MICHIGAN. MSGCU AWARDED $82,500 THROUGH 33 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 2024, MSGCU AWARDED 62 GRANTS TOTALING MORE THAN $45,000 TO LOCAL EDUCATORS TO BE USED DURING THE 2024/2025 SCHOOL YEAR. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 47788 0 1 525 1 1 1 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X VALLORIE MCBRIDE 5862638800 40400 GARFIELD RD CLINTON TOWNSHIP MI 48038 WILLIAM CAYEN VICE CHAIRPERSON 1.00 X 0 0 0 RICHARD MAIERLE DIRECTOR 1.00 X 3981 0 0 JAMES MCCANN DIRECTOR 1.00 X 0 0 0 TERESA DIMARIA DIRECTOR 1.00 X 649 0 0 EDWARD CALLAGHAN DIRECTOR 1.00 X 864 0 0 RICHARD SHOEMAKER DIRECTOR 1.00 X 0 0 0 DOUGLAS SMITH CHAIRPERSON 1.00 X 1076 0 0 CHARLES THOMAS DIRECTOR 1.00 X 0 0 0 ELIZABETH ARGIRI TREASURER 1.00 X 0 0 0 CHRISTINA AYAR SECRETARY 1.00 X 0 0 0 WANDA COOK-ROBINSON DIRECTOR 1.00 X 0 0 0 STEVE BREWER PRESIDENT/CEO 40.00 X 791206 0 62621 PHILIP COOPER CLO 40.00 X 415111 0 56343 DEBORAH FAHRNEY COO 40.00 X 433095 0 59632 VALLORIE MCBRIDE CFO 40.00 X 289393 0 40751 BRYAN WIELGAT CIO 40.00 X 338563 0 57089 CHARUMATHI HARI MORTGAGE CONSULTANT 40.00 X 560739 0 34332 2834677 0 310768 65 0 1 0 BROGAN & PARTNERS 535 WOODWARD HEIGHTS FERNDALE MI 48220 ADVERTISING 2756845 KASCO LLC 226 E HUDSON AVE ROYAL OAK MI 48067 CONSTRUCTION 1350059 DIEBOLD NIXDORF INC PO BOX 643543 PITTSBURGH PA 15264 TECHNOLOGY 1047845 DOXIM INC 1911 WOODSLEE DR CLEVELAND OH 44193 COMMUNICATIONS 892551 ACCESS SOFTEK 727 ALLSTON WAY LOS ANGELES CA 90051 TECHNOLOGY 720063 53 INTEREST ON LOANS 522100 168237554 168237554 FEES, CHARGES AND OTHER 522100 20792063 20792063 FINANCE & INSURANCE 520000 163402 163402 189193019 8361351 7522225 839126 19884340 19455330 429010 429010 429010 VISA CLASS B-1 SHARES REDEMPTION 522100 3615776 3615776 3615776 201599156 200596628 163402 839126 X 73075 82500 860397 33681860 2730687 6613490 2438769 215924 1956203 3516444 2748618 3470463 124114 98167 89271725 117277 3451628 319687 PROVISION FOR LOAN LOSS 9150000 DEBIT/CREDIT CARD EXPEN 4498370 LOAN SERVICING EXPENSE 4494700 SOFTWARE LICENSING AND 2686792 4458058 177058948 10401175 11254713 23212403 44842335 2427065 3102939 14780775 15140624 3085379936 3337509476 2705977 2864727 102397819 27720661 67895339 74677158 343931271 317820742 22922700 18981531 60257204 69389935 3633913845 3895584180 30466396 23250471 3844200 3862040 5069544 4934786 325000000 175000000 2838695388 3224076486 3203075528 3431123783 X 0 0 0 0 430838317 464460397 430838317 464460397 3633913845 3895584180 X 24540208 12907005 -3825133 X X 0 1 X 1 0 0 1 X 25329248 25329248 56985422 12462567 44522855 19282471 14611492 4670979 800678 646602 154076 74677158 MEMBER DEPOSITS 3224076486 3224076486 X PART IV, LINE 2B: AS A LOAN SERVICER, THE CREDIT UNION RECEIVES PRINCIPAL, INTEREST, TAX AND INSURANCE PAYMENTS AND THEN REMITS THESE FUNDS TO THE APPLICABLE THIRD PARTIES ON BEHALF OF THE BORROWERS. PART X, LINE 2: MSGCU IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. MSGCU IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. MANAGEMENT EVALUATED MSGCU'S TAX POSITIONS AND CONCLUDED THAT MSGCU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. MSGCU FILES IRS FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) AND OTHER FORMS IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MICHIGAN. THE CREDIT UNION'S OPEN AUDIT PERIOD IS THE THREE-YEAR PERIOD ENDED DECEMBER 31, 2024. 1 OAKLAND COMMUNITY COLLEGE FOUNDATION 2480 OPYKE ROAD BLOOMFIELD HILLS MI 48034 382282180 501(C)(3) 8000 0 TO ASSIST IN THE FOUNDATION'S INITIATIVE TO FUND EDUCATIONAL SOLUTIONS SCHOLARSHIPS FOR FIRST RESPONDERS MACOMB COMMUNITY COLLEGE FOUNDATION 14500 EAST 12 MILE ROAD WARREN MI 48088 383495303 501(C)(3) 8000 0 TO ASSIST IN THE FOUNDATION'S INITIATIVE TO FUND EDUCATIONAL SOLUTIONS SCHOLARSHIPS FOR FIRST RESPONDERS SCHOOLCRAFT COLLEGE FOUNDATION 18600 HAGGERTY ROAD LIVONIA MI 48152 381685740 501(C)(3) 8000 0 TO ASSIST IN THE FOUNDATION'S INITIATIVE TO FUND EDUCATIONAL SOLUTIONS SCHOLARSHIPS FOR FIRST RESPONDERS 3 0 COLLEGE SCHOLARSHIPS 33 82500 SCHOLARSHIP GRANTS PART I, LINE 2: MSGCU GIFTED FUNDS TO FOUR COLLEGES/COLLEGE FOUNDATIONS IN THE AMOUNT OF $28,000. THE RECIPIENTS OF THE FUNDS WERE DETERMINED BY THESE ENTITIES INDEPENDENT OF MSGCU. THESE SCHOLARSHIPS BENEFIT FIRST RESPONDERS WHO WILL GRADUATE FROM THE FIRE AND POLICE ACADEMIES AT MACOMB COMMUNITY COLLEGE, OAKLAND COMMUNITY COLLEGE, SCHOOLCRAFT COLLEGE, AND WAYNE COMMUNITY COLLEGE. INDIVIDUAL SCHOLARSHIPS ARE GRANTED TO HIGH SCHOOL SENIORS WHO WILL ATTEND COLLEGE, FUTURE SKILLED TRADESPERSONS PURSUING THEIR CERTIFICATION, CURRENT TEACHERS AND SCHOOL ADMINISTRATORS ENROLLED IN A CONTINUING EDUCATION PROGRAM. PART III: WE ARE PROUD TO ANNUALLY DISTRIBUTE SCHOLARSHIPS TO HIGH SCHOOL SENIORS, COLLEGE STUDENTS STUDYING EDUCATION, EDUCATORS WHO ARE ADVANCING THEIR SKILLS, AND STUDENTS PURSUING CAREERS IN THE SKILLED TRADES INDUSTRY OR AS FIRST RESPONDERS. MORE THAN $1.3 MILLION HAS BEEN AWARDED SINCE THE INCEPTION OF THE PROGRAM IN 2004. X 1 1 X X X X X 0 1 0 STEVE BREWER PRESIDENT/CEO 697043 0 82438 0 11725 0 33350 0 29271 0 853827 0 0 0 CHARUMATHI HARI MORTGAGE CONSULTANT 52652 0 507787 0 300 0 27135 0 7197 0 595071 0 0 0 DEBORAH FAHRNEY COO 377108 0 55687 0 300 0 33350 0 26282 0 492727 0 0 0 PHILIP COOPER CLO 359051 0 55760 0 300 0 33350 0 22993 0 471454 0 0 0 BRYAN WIELGAT CIO 293099 0 45164 0 300 0 31259 0 25830 0 395652 0 0 0 VALLORIE MCBRIDE CFO 248793 0 40325 0 275 0 27201 0 13550 0 330144 0 0 0 PART I, LINE 4B CERTAIN KEY EXECUTIVES PARTICIPATE IN A COLLATERAL ASSIGNED SPLIT DOLLAR ARRANGEMENT. STEVE BREWER CEO LIFE INS. X 4400000 5146469 0 1 1 PETER GATES FORMER CEO LIFE INS. X 8350000 9994155 0 1 1 15140624 FORM 990, PART VI, SECTION A, LINE 6 EACH INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO VOTE IN THE GOVERNING BODY'S ELECTION AND/OR REMOVAL AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CEO, CFO AND ACCOUNTING MANAGER REVIEW THE COMPLETED FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD OF DIRECTORS COMPLETES A CONFLICT OF INTEREST DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, CEO COMPENSATION IS RECOMMENDED BY THE PERSONNEL COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF DIRECTORS, AND APPROVED BY THE ENTIRE BOARD OF DIRECTORS. ON AN ANNUAL BASIS, ALL OTHER EMPLOYEE COMPENSATION IS SET BY THE CEO, EXECUTIVE TEAM, AND HUMAN RESOURCES. WE UTILIZE A THIRD PARTY COMPENSATION CONSULTANT IN JOB PRICING. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE POSTED IN THE BRANCH LOBBIES AND ARE AVAILABLE TO THE PUBLIC UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24E ONLINE BANKING EXPENSE 1,622,875. COLLECTIONS EXPENSE 1,064,341. MAINTENANCE 933,857. EDUCATION AND TRAINING 494,005. ANNUAL OPERATING FEE 260,046. OTHER 82,934. FORM 990, PART XI, LINE 9: ADJUSTMENT TO REPORT INVESTMENT IN SOC REAL ESTATE, INC. USING EQUITY METHOD ACCOUNTING. -3,825,133. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESSES UTILIZED BY THE AUDIT COMMITTEE. 20595 LIVONIA LLC 28366 FRANKLIN SOUTHFIELD MI 48034 455324142 HOLDING COMPANY FOR LAND MI 0 741007 MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION SOC REAL ESTATE INC 40400 GARFIELD CLINTON TOWNSHIP MI 48038 382658390 REAL ESTATE MI MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION C -116036 3011951 1.00000 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 SOC REAL ESTATE INC K 730836 MARKET LEASE RATES PER SQ FOOT SOC REAL ESTATE INC L 120000 SALARY ALLOCATION