2025-08-14T14:30:15-05:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 381544138 WEST MICHIGAN CREDIT UNION WEST 6164514567 1720 MICHIGAN STREET NE GRAND RAPIDS MI 49503 THOMAS W KUZDZAL CFO 6164514567 2025-08-13 1 0 AUBREY CLEGG P01076395 3052328272 2025-08-13 2024 2025-03-06 01:10:19Z WILLIAM KEIM 1720 MICHIGAN STREET NE GRAND RAPIDS MI 49503 14377811 0 X WWW.WESTMICHIGANCU.COM X 1956 MI WORKING TOGETHER AS THE MOST TRUSTED RESOURCE TO HELP OUR MEMBERS' FINANCIAL LIVES BE SIMPLY BETTER. 9 9 98 10 47838 0 0 0 9780790 9855782 3473496 4522029 0 0 13254286 14377811 10500 0 0 0 4233995 4606020 0 0 0 5878889 5236569 10123384 9842589 3130902 4535222 253915068 252339496 207745350 201537290 46169718 50802206 WORKING TOGETHER AS THE MOST TRUSTED RESOURCE TO HELP OUR MEMBERS' FINANCIAL LIVES BE SIMPLY BETTER. 0 0 INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBER FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 5609 0 1 98 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X THOMAS KUZDZAL 6164514567 1720 MICHIGAN STREET NE GRAND RAPIDS MI 49503 BRENT NEVINS BOARD CHAIR 5.00 X 0 0 0 MICHAEL ROPELE VICE BOARD CHAIR 3.00 X 0 0 0 MARLIN BAKER SECRETARY 3.00 X 0 0 0 DANIEL TITUS TREASURER 3.00 X 0 0 0 JOE COUTURE DIRECTOR 3.00 X 0 0 0 SCOTT COLLINS DIRECTOR 3.00 X 0 0 0 CLARE KWANT DIRECTOR 3.00 X 0 0 0 STEVE KENYON DIRECTOR 3.00 X 0 0 0 SHIRLEE HARRY DIRECTOR 3.00 X 0 0 0 WILLIAM KEIM CEO 45.00 X 362801 0 39551 THOMAS W KUZDZAL CFO 45.00 X 162888 0 18543 JEANENE SMITH COO 45.00 X 125312 0 29683 CASSIE PATTERSON CHIEF RISK AND COMPLIANCE OFFICER 45.00 X 132399 0 9175 783400 0 96952 4 0 1 0 CU ANSWERSXTEND 6000 28TH STREET SE SUITE 100 GRAND RAPIDS MI 495466927 COMPUTER SYSTEMS 574716 FISWORLDPAY 8500 GOVERNORS HILL DRIVE SYMMES TOWNSHIP OH 45249 DEBIT CARD AND ATM PROCESSING 357187 RED ROCK INFORMATION SECURITY 1101 40TH STREET SE GRAND RAPIDS MI 49508 IT MONITORING, FIREWALL, ETC. 343233 VELERA 560 CARILLON PARKWAY ST PETERSBURG FL 33716 DR,CR,ATM CARD PROCESSING 245086 INFORMA BUSINESS SYSTEMS 5170 HARTSHORN DR FLUSHING MI 48433 ATM HARDWSARE, SOFTWARE AND SERVICING 103290 5 INCOME FROM LOANS 522100 6473659 6473659 FEES/CHARGES/OTHER 522100 3334285 3334285 FINANCE AND INSURANCE 520000 47838 47838 9855782 4522029 4522029 14377811 14329973 47838 0 X 880352 2513862 186872 693579 331355 17535 -11815 10982 138299 99322 572021 913257 449324 11882 942337 12258 291696 83066 DEBIT/CREDIT/ATM EXPENS 808895 PROVISION FOR LOAN LOSS 399546 LOAN SERVICING 230129 MISCELLANEOUS 124045 143790 9842589 3848275 4821747 38238284 37462621 1139789 184830 7700792 7888814 133514850 112164121 199348 145984 7901809 3906068 4061665 3995741 36274216 51035101 24427900 30162900 1018910 895405 3491039 3582232 253915068 252339496 1973814 2003954 205771536 199533336 207745350 201537290 X 0 0 0 0 46169718 50802206 46169718 50802206 253915068 252339496 4535222 97266 0 X X 0 1 X 1 0 1061499 1061499 5054523 2442774 2611749 1785787 1463294 322493 3995741 LONG TERM CERTIFICATES OF DEPOSIT 29468000 C MEMBERSHIP CAPITAL SHARES 694900 C 30162900 IRA SHARE ACCOUNTS 3690681 CERTIFICATES OF DEPOSIT 20802611 SHARE DRAFT ACCOUNTS 35336690 SHARE AND MONEY MARKET ACCOUNTS 139703354 199533336 X 14377811 0 14377811 0 14377811 9842589 0 9842589 0 9842589 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. X X X X 0 1 0 WILLIAM KEIM CEO 316016 0 45291 0 1494 0 22896 0 16655 0 402352 0 0 0 THOMAS W KUZDZAL CFO 145394 0 16000 0 1494 0 10375 0 8168 0 181431 0 0 0 JEANENE SMITH COO 109132 0 16000 0 180 0 8419 0 21264 0 154995 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO ITS EXECUTIVES, WILLIAM KEIM, THOMAS W. KUZDZAL, JEANENE SMITH, AND CASSIE PATTERSON THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AS PER THE CONTRACTUAL AGREEMENT, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS UP TO THE PREMIUMS PAID INTO THE POLICIES. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS THE EXECUTIVE'S LOAN BALANCE WHICH INCLUDES INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. WILLIAM KEIM CEO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 3312793 3862336 0 1 1 THOMAS KUZDZAL CFO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 2003954 2308666 0 1 1 JEANENE SMITH COO TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 627849 723317 0 1 1 CASSIE PATTERSON VP COMPLIANCE TO FUND COLLATERAL ASSIGNED SPLIT DOLLAR PLAN X 922191 994495 0 1 1 7888814 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH A LOAN REGIME ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE PROMISSORY NOTE SIGNED BY EACH OF THE PARTICIPATING EXECUTIVES IS SECURED BY THE LIFE INSURANCE POLICIES PURCHASED ON EACH PARTICIPANT'S BEHALF. THAT IS, EACH EXECUTIVE'S LOAN FUNDS A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME UP TO THE PREMIUMS PAID INTO THE POLICIES. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S EXECUTIVE LOAN ORIGINATION VALUE PLUS THE STATED INTEREST. THESE LOANS ARE CONSIDERED TERM LOANS WITH FULL RECOURSE. ANY REMAINING DEATH BENEFITS AFTER REPAYMENT OF THE LOANS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS PER THE CONTRACTUAL AGREEMENT. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF DIRECTORS. 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 THE FORM 990 IS PREPARED BY A TAX PROFESSIONAL, REVIEWED BY MANAGEMENT, AND DISCUSSED AT THE BOARD OF DIRECTORS MEETING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE EXECUTIVE TEAM AND THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST SHOULD ONE ARISE DURING THE YEAR. ADDITIONALLY, MEMBERS OF THE EXECUTIVE TEAM AND THE BOARD OF DIRECTORS SIGN ANNUAL DISCLOSURE FORMS WHICH ARE REVIEWED BY MANAGEMENT AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE CEO HAS AN ANNUAL REVIEW PERFORMED BY THE EXECUTIVE COMMITTEE WHICH CONSISTS OF BOARD MEMBERS. THEY DETERMINE THE CEO'S SALARY FOR THE NEXT YEAR. THE CFO'S, COO'S AND CHIEF RISK AND COMPLIANCE OFFICER'S ANNUAL EVALUATIONS ARE PREPARED BY THE CEO. THE MICHIGAN LEAGUE SALARY SURVEY IS UTILIZED TO DETERMINE SALARY ADJUSTMENTS FOR THE OTHER EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. QUARTERLY FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE NCUA WEBSITE VIA THE 5300 FILING. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 138,299. FORM 990, PART IX, LINE 24E TRAINING/EDUCATION/DEVELOPMENT 100,743. MAINTENANCE 43,047. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. WMICU FINANCIAL SERVICES LLC 1319 FRONT AVE NW GRAND RAPIDS MI 49504 320030494 INSURANCE SALES MI 0 14035 WEST MICHIGAN CREDIT UNION