2025-11-17T15:23:39-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2024-01-01 381562639 BEST FINANCIAL CREDIT UNION BEST 2317331329 1888 EAST SHERMAN BLVD MUSKEGON MI 49444 MORGAN RESCORLA PRESIDENT/CEO 2317331329 2025-11-17 1 0 TANYA MEDGAARDEN P01717240 5074347000 2025-11-17 2024 2025-03-06 01:10:19Z MORGAN RESCORLA 1888 EAST SHERMAN BLVD MUSKEGON MI 49444 9531251 0 X WWW.BESTFCU.ORG X CREDIT UNION 1955 MI THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AND SAVINGS BY CREATING A SOURCE OF CREDIT AT FAIR AND REASONABLE RATES AND PROMOTE SAVINGS AT A REASONABLE RATE OF INTEREST. 6 6 52 13 474305 0 0 0 7212410 6986844 951111 790544 120697 1694469 8284218 9471857 40155 47796 0 1836987 2667430 3096564 0 0 0 5278893 4319975 7986478 9301322 297740 170535 139035538 138748886 116629491 116004802 22406047 22744084 TO INSPIRE, EMPOWER AND IMPROVE THE QUALIFY OF LIFE FOR OUR MEMBERS AND OUR COMMUNITIES. 0 0 PROMOTE THRIFT BY OFFERING FINANCIAL SERVICES TO THE COMMUNITY OF MEMBERS ELIGIBLE TO JOIN THE FINANCIAL CREDIT UNION. FINANCIAL SERVICES ARE ECONOMICALLY PRICED FOR LOANS, SERVICES, RETURN ON DEPOSITS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 3303 0 1 52 1 1 1 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X MORGAN RESCORLA 2317331329 1888 E SHERMAN BLVD MUSKEGON MI 49444 SHONTAYE WITCHER CHAIRPERSON 1.00 X X 0 0 0 DAVID MIERAS VICE-CHAIRPERSON 1.00 X X 0 0 0 PAUL HOPPA SECRETARY 1.00 X X 0 0 0 TAYLOR ADAMS BOARD MEMBER 1.00 X 0 0 0 JOHN HENDRICKS BOARD MEMBER 1.00 X 0 0 0 TRACEY BANKHEAD BOARD MEMBER 1.00 X 0 0 0 MORGAN RESCORLA PRESIDENT/CEO 50.00 X 239809 0 0 MICHAEL VERSTRAETE CFO 50.00 X 131861 0 0 RANDI SHEFFER COO 50.00 X 122693 0 0 CHARLES RITTER AGENCY PRINCIPAL 50.00 X 126854 0 0 621217 0 0 4 0 1 0 CO-OP FINANCIAL SERVICES 9692 HAVEN AVE RANCHO CUCAMONGA CA 91730 PROCESSING 627435 SHARE ONE NEW SOLUTIONS 1790 KIRBY PKWY STE MEMPHIS TN 38138 PROCESSING 333394 KASASA LTD PO BOX 527 LUBBOCK TX 79408 REWARDS PROGRAM 163944 IHEARTMEDIA 3964 COLLECTIONS DR CHICAGO IL 60693 RADIO-MARKETING 163271 REDROCK INFORMATION SECURITY 1101 40TH ST SE GRAND RAPIDS MI 49508 IT SERVICES 148174 6 INTEREST ON LOANS 522100 5558701 5558701 FEE INCOME 522100 1428143 1289484 138659 6986844 789326 789326 60612 59394 1218 1218 1218 OTHER INCOME 522100 1694469 1358823 335646 1694469 9471857 8207008 474305 790544 47796 1836987 494363 2041997 91301 458661 10242 79258 43504 883369 466978 1180782 228057 74823 632 253898 PROVISION FOR CREDIT LO 722886 LOAN SERVICING EXPENSE 349429 OPERATING FEES 20241 MISC NON-INTEREST EXPEN 16118 9301322 1265157 1887494 4522671 5294274 49282 42680 99090313 103055542 302696 348444 5565098 3062244 2202529 2502854 22157041 3164568 19093514 541400 6281281 5982684 139035538 138748886 611654 890022 116017837 115114780 116629491 116004802 X 0 0 0 0 22406047 22744084 22406047 22744084 139035538 138748886 170535 21047 146455 0 X 0 0 0 350521 350521 3062353 1830233 1232120 354844 221816 133028 1350340 1010195 340145 447040 447040 2502854 EQUITY SECURITIES 198873 F AFS SECURITIES 7086641 F HTM SECURITIES 11808000 C 19093514 MEMBER SHARES 115114780 115114780 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE NET UNRELATED BUSINESS INCOME IS IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE. 1 OAKRIDGE PUBLIC SCHOOLS 275 SOUTH WOLF LAKE ROAD MUSKEGON MI 49442 381714401 9147 0 CHARITABLE CONTRIBTUTION MUSKEGON PUBLIC SCHOOLS 630 HARVEY STREET MUSKEGON MI 49441 386002960 8623 0 CHARITABLE CONTRIBTUTION ORCHARD VIEW PUBLIC SCHOOLS 35 SOUTH SHERIDAN MUSKEGON MI 49442 386002949 6856 0 CHARITABLE CONTRIBTUTION MUSKEGON HEIGHTS PUBLIC SCHOOLS 2441 SANFORD STREET MUSKEGON MI 49444 460557412 5836 0 CHARITABLE CONTRIBTUTION REETHS PUFFER SCHOOLS 991 W GILES ROAD MUSKEGON MI 49445 381816725 5797 0 CHARITABLE CONTRIBTUTION PART I, LINE 2: CONTRIBUTIONS TO ORGANZIATIONS ARE CHARITABLE CONTRIBUTIONS, NOT GRANTS. THEREFORE, THERE IS NO SUBSEQUENT MONITORING BY THE CREDIT UNION. X X X X X 0 1 0 MORGAN RESCORLA PRESIDENT/CEO 215470 0 24339 0 0 0 0 0 0 0 239809 0 0 0 PART I, LINE 4B NAME: RANDI SHEFFER, DESCRIPTION: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN, CURRENT YEAR AMOUNT: $10,000. PLAN DESCRIPTION: 457(F) FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, 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 A, LINE 7A MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED AT AN ANNUAL BUSINESS MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, 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 FORM 990 IS PRESENTED AT BOARD MEETING AND EMAILED TO OFFICERS FORM 990, PART VI, SECTION B, LINE 12C ANNUAL REVIEW AND WRITTEN CONFIRMATION OF POLICY AND DISCLOSURE STATEMENT IS COMPLETED. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL SURVEY PUBLICATION REVIEWED FOR MARKET COMPENSATION STANDARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY HAVE NOT BEEN MADE READILY AVAILABLE TO THE GENERAL PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY BEST FINANCIAL INSURANCE AGENCY 1888 EAST SHERMAN BLVD MUSKEGON MI 49444 873447645 INSURANCE SALES MI -101813 117049 BEST FINANCIAL CREDIT UNION 0 0 0 0 0 1 0 0 0 1 0 1 0 1 1 0 1 0 0 NO TRANSACTIONS OVER 50000