Nonprofit · EIN 38-0960035
CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN
Also known as 85 COMMUNITY CHOICE CREDIT UNION
Tax-exempt · FARMINGTON HILLS, MI 48334
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $124,802,335 | $118,223,191 | $6,579,144 | $1,844,505,982 | $1,690,259,030 | $154,246,952 |
| December 31, 2023 | 990 | $102,901,319 | $98,586,856 | $4,314,463 | $1,787,760,337 | $1,645,059,194 | $142,701,143 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $112,080,040
- Investment income
- $10,481,347
- Net rental income
- $522,437
- Net gain from sales of assets
- $3,354,456
- Other revenue
- $2,240,948
Expenses
- Grants and similar amounts paid
- $14,948
- Compensation of officers, directors and key employees
- $5,393,814
- Other salaries and wages
- $28,539,141
- Salaries, compensation and benefits (total)
- $42,026,455
- Professional fundraising fees
- $0
- Legal fees
- $286,839
- Accounting fees
- $160,148
- Occupancy
- $1,167,557
- Travel
- $281,322
- Depreciation
- $3,118,513
Balance sheet and other
- Total assets, start of year
- $1,787,760,337
- Total assets, end of year
- $1,844,505,982
- Total liabilities, end of year
- $1,690,259,030
- Net assets, end of year
- $154,246,952
- Land, buildings and equipment
- $44,435,082
- Publicly traded securities
- $194,385,129
- Gross unrelated business income
- $942,273
- Gross receipts
- $124,933,965
- Employees
- 503
- Volunteers
- 9
- Year formed
- 1935
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBERT BAVA | CEO Officer | 40 | $1,198,615 | $70,483 |
| DANIEL MUNRO | COO/EVP Officer | 40 | $555,437 | $290,612 |
| WENDI DIACONO | WEALTH ADVISOR Highest-paid employee | 40 | $533,641 | $24,548 |
| KELLI WISNER-FRANK | CFO Officer | 40 | $408,491 | $56,685 |
| TERESA MAYER | CLO Officer | 40 | $407,133 | $7,398 |
| DONNA BASHI | VP BUSINESS DEVELOPMENT Highest-paid employee | 40 | $382,309 | $23,444 |
| DONNA SIEJUTT | CHRO Officer | 40 | $333,410 | $49,979 |
| BRENT LOWELL | SR BUSINESS RELATIONSHIP MANAGER Highest-paid employee | 40 | $330,625 | $39,610 |
| JENNIFER LYNN HURREN | SVP CHIEF DIGITAL OFFICER Officer | 40 | $330,094 | $23,646 |
| ELIZABETH ANNE SPADAFORE | SR BUSINESS RELATIONSHIP MANAGER Highest-paid employee | 40 | $323,736 | $11,393 |
| CARLINGTON BUCKNOR | VP TECHNOLOGY Key employee | 40 | $261,883 | $39,983 |
| BRIAN WILSON | VP RETAIL DELIVERY Key employee | 40 | $246,880 | $47,483 |
| JEFFREY DUBEY | VP RISK MANAGEMENT Key employee | 40 | $257,919 | $29,169 |
| JENNY LUDWIGSEN | VP MARKETING Key employee | 40 | $268,274 | $18,344 |
| BARBARA BABINGTON | VP LENDING Key employee | 40 | $249,259 | $34,836 |
11 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| FREDERICK MARSZALEC | BUSINESS RELATIONSHIP MANAGER Highest-paid employee | 40 | $216,873 | $43,294 |
| JASON CAIN | VP DIGITAL Key employee | 40 | $201,812 | $5,989 |
| BRIAN WILSON | CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| MARY MIKO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS COOK | SECRETARY Trustee or director | 1 | $0 | $0 |
| KATHLEEN BONUTTI | TREASURER Trustee or director | 1 | $0 | $0 |
| TIMOTHY CROSSON | VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| CHERYL MARKS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ONEATA BAILEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIMOTHY WELCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL FAHMY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ROBERT BAVA | CEO Officer | 40 | $1,063,998 | $77,778 |
| DANIEL MUNRO | COO/EVP Officer | 40 | $518,261 | $73,534 |
| KELLI WISNER-FRANK | CFO Officer | 40 | $403,919 | $55,053 |
| DONNA BASHI | VP BUSINESS DEVELOPMENT Key employee | 40 | $421,683 | $22,925 |
| TERESA MAYER | CLO Officer | 40 | $337,731 | $37,363 |
| DONNA SIEJUTT | CHRO Officer | 40 | $320,121 | $53,241 |
| ELIZABETH ANNE SPADAFORE | SR BUSINESS RELATIONSHIP MGR Highest-paid employee | 40 | $341,758 | $11,399 |
| JENNIFER LYNN HURREN | SVP CHIEF DIGITAL OFFICER Officer | 40 | $320,702 | $24,051 |
| BRENT LOWELL | SR BUSINESS RELATIONSHIP MGR Highest-paid employee | 40 | $286,270 | $41,660 |
| CARLINGTON BUCKNOR | VP TECHNOLOGY Key employee | 40 | $264,699 | $42,847 |
| BRIAN WILSON | VP RETAIL DELIVERY Key employee | 40 | $237,153 | $53,819 |
| JEFFREY DUBEY | VP RISK MANAGEMENT Key employee | 40 | $249,312 | $33,004 |
| JENNY LUDWIGSEN | VP MARKETING Key employee | 40 | $255,708 | $24,167 |
| BARBARA BABINGTON | VP LENDING Key employee | 40 | $231,715 | $32,161 |
| WENDI DIACONO | WEALTH ADVISOR Highest-paid employee | 40 | $202,985 | $37,195 |
| FREDERICK MARSZALEC | BUSINESS RELATIONSHIP MGR Highest-paid employee | 40 | $187,411 | $40,008 |
| JASON CAIN | VP DIGITAL Key employee | 40 | $215,619 | $4,192 |
| JEREMY MAURER | AVP PROJECT MANAGEMENT Highest-paid employee | 40 | $170,757 | $30,330 |
| BRIAN WILSON | CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| MARY MIKO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS COOK | SECRETARY Trustee or director | 1 | $0 | $0 |
| KATHLEEN BONUTTI | TREASURER Trustee or director | 1 | $0 | $0 |
| TIMOTHY CROSSON | VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| CHERYL MARKS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VICTOR MARSHALL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ONEATA BAILEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIMOTHY WELCER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL FAHMY | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 31155 NORTHWESTERN HWAY, FARMINGTON HILLS, MI 48334-2502
- In care of
- % VP OF OPERATIONS
- Principal officer (990 for 2024)
- ROBERT BAVA, 31155 NORTHWESTERN HWY, FARMINGTON HILLS, MI 48334
- Signed the 990
- KELLI WISNER-FRANK, CFO
- Phone
- (877) 243-2528
- Website
- WWW.COMMUNITYCHOICECU.COM
- Return prepared by
- DOEREN MAYHEW
Mission
WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE.
Program accomplishments
- LENDING: WE PROVIDED OVER $318 MILLION IN LOANS TO OUR CONSUMER MEMBERS AND OVER $130 MILLION IN LOANS TO BUSINESSES. OUR LOAN PORTFOLIO GREW BY $95 MILLION DURING 2024 TO $1.437 BILLION AS OF DECEMBER 31, 2024. WE ADDED A NEW LOAN PRODUCT CALLED RENOFI WHICH PROVIDES A UNIQUE AND CONVENIENT FINANCING OPTION FOR HOME IMPROVEMENT PROJECTS.
- DEPOSITS: OUR MEMBERS DEPOSITED OVER $1.5 BILLION WITH US IN SAVINGS, CHECKING, BUSINESS, AND INVESTMENT ACCOUNTS INCLUDING IRA AND CDS.
- DIGITAL ACCESS: IN SUPPORT OF OUR STRATEGIC FOCUS ON DIGITAL TOGETHER, WE UPGRADED MANY OF OUR ATM MACHINES TO ITM MACHINES. WE UPGRADED COMMUNICATION SYSTEMS TO INCLUDE A MORE ROBUST ONLINE CHAT, VIDEO CALLS, AND CO-BROWSING. WE INCREASED ACCESSIBILITY BY MAKING LOAN PAYMENTS AVAILABLE VIA TEXT FROM ACCOUNTS HELD ANYWHERE; AND WE IMPLEMENTED SAME DAY ELECTRONIC PAYMENTS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-0960035
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1956
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1359: CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- Assets (IRS master file)
- $1,844,505,982
- Income (IRS master file)
- $124,933,965
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $124,802,335 | $118,223,191 | $1,844,505,982 | XML |
| 990 | December 2023 | $102,901,319 | $98,586,856 | $1,787,760,337 | XML |
| 990 | December 2022 | $84,137,393 | $70,833,474 | $1,750,069,029 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-0960035).
Questions about CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN
- What is the EIN of CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN?
- The employer identification number (EIN) of CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN is 38-0960035.
- Is CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1956.
- Are donations to CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 names ROBERT BAVA.
- Who are the officers and directors of CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 lists 26 people; 17 received compensation from the organization, the highest $1,198,615 (ROBERT BAVA, CEO).
- How much revenue does CREDIT UNIONS CHARTERED BY THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $124,802,335, expenses of $118,223,191 and total assets of $1,844,505,982 at year end.
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