Nonprofit · EIN 38-1215360
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 48 LAKE MICHIGAN CREDIT UNION, GRCC ESP Grand Rapids Community College ESP
Tax-exempt · GRAND RAPIDS, MI 49501
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $918,222,007 | $710,071,392 | $208,150,615 | $15,952,719,108 | $14,174,787,786 | $1,777,931,322 |
| December 31, 2024 | 990 | $829,413,442 | $680,152,586 | $149,260,856 | $14,527,369,395 | $12,991,316,669 | $1,536,052,726 |
| December 31, 2023 | 990 | $692,047,277 | $519,826,803 | $172,220,474 | $13,371,002,258 | $11,990,386,029 | $1,380,616,229 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $835,275,373
- Investment income
- $66,852,626
- Net rental income
- -$18,940
- Net gain from sales of assets
- $89,943
- Other revenue
- $16,094,008
Expenses
- Grants and similar amounts paid
- $1,346,517
- Compensation of officers, directors and key employees
- $7,089,983
- Other salaries and wages
- $150,050,136
- Salaries, compensation and benefits (total)
- $188,841,678
- Professional fundraising fees
- $0
- Legal fees
- $1,429,604
- Accounting fees
- $311,442
- Occupancy
- $14,317,543
- Travel
- $1,141,529
- Depreciation
- $10,071,457
Balance sheet and other
- Total assets, start of year
- $14,527,369,395
- Total assets, end of year
- $15,952,719,108
- Total liabilities, end of year
- $14,174,787,786
- Net assets, end of year
- $1,777,931,322
- Land, buildings and equipment
- $122,353,203
- Publicly traded securities
- $465,984,291
- Gross unrelated business income
- $8,760,995
- Gross receipts
- $918,585,702
- Employees
- 1,758
- Volunteers
- 0
- Year formed
- 1933
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JULIE LEONARD | CEO Officer | 40 | $1,876,735 | $24,763 |
| MATTHEW ADLER | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 40 | $1,645,929 | $23,262 |
| ZAC ELLERBROEK | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 40 | $1,365,209 | $17,838 |
| ERIC BURGOON | CHIEF EXPERIENCE Officer | 40 | $927,596 | $25,347 |
| EMIL IZRAILOV | MORTGAGE SALES MANAGER FH Highest-paid employee | 40 | $934,271 | $18,193 |
| PETER DANN | EVP CFO Key employee | 40 | $810,170 | $27,012 |
| LUTHER TROOK | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 40 | $796,311 | $20,798 |
| JASON RYBA | VP REGIONAL MTG PRODUCTION Highest-paid employee | 40 | $691,254 | $24,763 |
| SARA KEMPERMAN | SVP COO Key employee | 40 | $562,495 | $16,557 |
| JAMES MASKELL | SVP CCO Key employee | 40 | $509,544 | $26,917 |
| MARK POWELL | SVP CRO Key employee | 40 | $512,982 | $15,667 |
| CHRISTOPHER ORTEGA | CIO Officer | 40 | $475,324 | $13,594 |
| MARTIN PELTIER | CGO Key employee | 40 | $394,791 | $25,644 |
| CHRISTI COWDIN | CMO Officer | 40 | $330,328 | $7,788 |
| SARAH MIKLUSICAK | CPO Key employee | 40 | $284,973 | $7,212 |
12 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAYLEE RAFFA | CSG Key employee | 40 | $199,601 | $13,089 |
| JACK NEWBERRY | DIRECTOR Trustee or director | 1 | $927 | $0 |
| BOB WHITE | DIRECTOR Trustee or director | 1 | $927 | $0 |
| BRAD MATHIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIMOTHY MYERS | BOARD SECRETARY Trustee or director | 1 | $0 | $0 |
| JUAN OLIVAREZ | BOARD VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| BOB PARTRIDGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE RICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GRETCHEN TELLMAN-PARTRIDGE | BOARD CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| DAVE BARDOLPH | BOARD TREASURER Trustee or director | 1 | $0 | $0 |
| TIM GORTSEMA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAITLIN TOWNSEND-LAMB | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 32 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SANDRA JELINSKI | CEO Officer | 40 | $6,544,497 | $65,760 |
| MATTHEW ADLER | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 40 | $1,294,182 | $40,876 |
| ZAC ELLERBROEK | MORTGAGE LOAN ORIGINATOR Highest-paid employee | 40 | $1,129,851 | $10,677 |
| JULIE LEONARD | CEO Officer | 40 | $999,199 | $51,221 |
| CORBIN BUTTLEMAN | VP RETAIL MORTGAGE SALES TC Highest-paid employee | 40 | $933,394 | $50,843 |
| ERIC BURGOON | CHIEF EXPERIENCE Officer | 40 | $808,354 | $67,111 |
| JAMES PAQUETTE | MORTGAGE SALES MANAGER BRIGHTON Highest-paid employee | 40 | $773,356 | $49,278 |
| PETER DANN | EVP CFO Key employee | 40 | $708,202 | $52,262 |
| EMIL IZRAILOV | MORTGAGE SALES MANAGER FH Highest-paid employee | 40 | $562,206 | $129,119 |
| JAMES MASKELL | SVP CCO Key employee | 40 | $450,878 | $52,637 |
| MARK POWELL | SVP CRO Key employee | 40 | $451,399 | $36,143 |
| SARA KEMPERMANN | SVP COO Key employee | 40 | $461,438 | $4,273 |
| NORA SWART | CPO Officer | 40 | $404,094 | $28,195 |
| MARTIN PELTIER | CGO Key employee | 40 | $339,010 | $72,815 |
| ALICIA FORCE | FORMER SVP CONSUMER LENDING Former | 0 | $340,089 | $0 |
| CHRISTI COWDIN | CMO Officer | 40 | $255,155 | $35,102 |
| DON BRATT | CMO Officer | 40 | $276,461 | $13,186 |
| KEVIN SMITH | CIO Officer | 40 | $230,908 | $7,353 |
| SARA MIKLUSICAK | CPO Key employee | 40 | $218,215 | $7,212 |
| CHRISTOPHER ORTEGA | CIO Officer | 40 | $171,527 | $1,721 |
| BRAD MATHIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIMOTHY MYERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JACK NEWBERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUAN OLIVAREZ | VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| CHERI PARKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOB PARTIDGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE RICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GRETCHEN TELLMAN-PARTRIDGE | CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| BOB WHITE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVE BARDOLPH | TREASURER Trustee or director | 1 | $0 | $0 |
| TIMOTHY GORTSEMA | SECRETARY Trustee or director | 1 | $0 | $0 |
| CAITLIN TOWNSEND-LAMB | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SANDY JELINSKI | CEO Officer | 40 | $2,817,720 | $73,268 |
| MATT ADLER | MORTGAGE LO Highest-paid employee | – | $1,002,760 | $39,428 |
| ROY HELLWEGE | PRESIDENT CE Former | – | $998,755 | $41,371 |
| ZAC ELLERBROEK | MORTGAGE LO Highest-paid employee | – | $947,179 | $10,128 |
| ERIC BURGOON | SVP MORTGAGE Officer | 40 | $775,086 | $71,063 |
| CORBIN BUTTLEMAN | VP MORTGAGE Highest-paid employee | – | $609,058 | $49,977 |
| PETER DANN | EVP CFO Officer | 40 | $601,528 | $50,027 |
| EMIL IZRAILOV | MORTGAGE SAL Highest-paid employee | – | $611,984 | $32,977 |
| RAZI QADRI | SVP CIOO Former | – | $569,922 | $42,337 |
| NORA SWART | SVP CPO Officer | 40 | $555,541 | $42,443 |
| JIM PAQUETTE | MORTGAGE SAL Highest-paid employee | – | $513,873 | $40,278 |
| DON BRATT | SVP CMO Officer | 40 | $386,743 | $52,441 |
| JIM MASKELL | SVP CCO Officer | 40 | $372,992 | $49,902 |
| MARK POWELL | SVP CRO Officer | 40 | $406,070 | $14,981 |
| SARA KEMPERMAN | SVP RETAIL O Officer | 40 | $369,169 | $32,505 |
| ALICIA FORCE | SVP CONSUMER Former | – | $278,162 | $25,294 |
| KEVIN SMITH | CIO Officer | 40 | $80,853 | $42,337 |
| DAVE BARDOLPH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TIM GORTSEMA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BRAD MATHIS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| TIM MYERS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JACK NEWBERRY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JUAN OLIVAREZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHERI PARKER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BOB PARTRIDGE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MIKE RICE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GRETCHEN TELLMAN-PARTRIDGE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BOB WHITE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2848, GRAND RAPIDS, MI 49501-2848
- Mailing address (990-N for 2013)
- 143 Bostwick Ave NE, Grand Rapids MI 49503
- Principal officer (990 for 2025)
- JULIE LEONARD, PO BOX 2848, GRAND RAPIDS, MI 49501
- Principal officer (990-N for 2013)
- Amy Robinson, 143 Bostwick Ave NE, Grand Rapids MI 49503
- Signed the 990
- PETER DANN, EVP/CFO
- Phone
- (616) 242-9790
- Website
- WWW.LMCU.ORG
- Return prepared by
- DOEREN MAYHEW
Mission
PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION.
Program accomplishments
- LAKE MICHIGAN CREDIT UNION OFFERS NUMEROUS LOAN PRODUCTS TO MEET ITS MEMBERS' NEEDS. AS OF DECEMBER 31, 2025, THE CREDIT UNION HAD APPROXIMATELY 290,500 OUTSTANDING LOANS TO MEMBERS THAT AGGREGATED APPROXIMATELY $13,178,913,000. LOAN PRODUCTS INCLUDE AUTOMOBILE, RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE, CREDIT CARD AND PERSONAL LOANS.
- LAKE MICHIGAN CREDIT UNION HAS OVER 1,362,000 DEPOSIT ACCOUNTS THAT AGGREGATED APPROXIMATELY $13,562,854,000 AS OF DECEMBER 31, 2025. DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, INDIVIDUAL RETIREMENT ACCOUNTS AND CERTIFICATES.
- LAKE MICHIGAN CREDIT UNION OFFERS A WIDE VARIETY OF SERVICES TO ITS MORE THAN 523,000 MEMBERS INCLUDING, BUT NOT LIMITED TO, ONLINE BANKING, MOBILE BANKING, WIRE SERVICES, OVERDRAFT PROTECTION AND DIGITAL WALLET.
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 | 990 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
- 38-1215360
- 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)
- $15,952,719,108
- Income (IRS master file)
- $918,585,702
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $918,222,007 | $710,071,392 | $15,952,719,108 | IRS |
| 990 | December 2024 | $829,413,442 | $680,152,586 | $14,527,369,395 | IRS |
| 990 | December 2023 | $692,047,277 | $519,826,803 | $13,371,002,258 | XML |
| 990 | December 2022 | $520,341,837 | $350,744,589 | $11,905,975,667 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-N for 2013 Officer: Amy Robinson | December 31, 2013 | ≤ $50,000 receipts | – | – | e-Postcard |
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 38-1215360).
Questions about CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- What is the EIN of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The employer identification number (EIN) of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN is 38-1215360.
- Is CREDIT UNIONS CHARTERED IN 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 IN 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 IN 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 IN THE STATE OF MICHIGAN due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CREDIT UNIONS CHARTERED IN 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 2025.
- Who is the principal officer of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 names JULIE LEONARD.
- Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 lists 27 people; 18 received compensation from the organization, the highest $1,876,735 (JULIE LEONARD, CEO).
- How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $918,222,007, expenses of $710,071,392 and total assets of $15,952,719,108 at year end.
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