Skip to main content
IRS-authorized e-file provider · not the IRS

Nonprofit · EIN 38-1406340

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

Also known as 1130 THE LOCAL CREDIT UNION

Tax-exempt · STERLING HTS, MI 48310

Financials

$5.2M$5.1M2023$5.7M$5.4M2024
Revenue Expenses · by fiscal year end
Financials of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$5,651,272$5,350,420$300,852$102,891,778$89,030,069$13,861,709
December 31, 2023990$5,229,098$5,061,470$167,628$106,015,170$93,422,662$12,592,508
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$4,310,243
Investment income
$1,341,029
Net gain from sales of assets
-$4,077
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$506,896
Other salaries and wages
$889,780
Salaries, compensation and benefits (total)
$2,014,672
Professional fundraising fees
$0
Occupancy
$43,900
Travel
$29,700
Depreciation
$158,300
Program services (functional)
$5,350,420

Balance sheet and other

Total assets, start of year
$106,015,170
Total assets, end of year
$102,891,778
Total liabilities, end of year
$89,030,069
Net assets, end of year
$13,861,709
Land, buildings and equipment
$2,461,508
Publicly traded securities
$40,800,645
Gross unrelated business income
$22,731
Gross receipts
$5,673,595
Employees
27
Volunteers
10
Year formed
1949
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.

NameTitleHours / weekCompensationOther / benefits
JOE HALLMANPRESIDENTCEO
Officer
40$214,426$45,942
SHERRY LAWFIELDVP RETAIL OPERATIONS
Highest-paid employee
40$110,074$20,876
ROY MACDONALDLENDING MANAGER
Officer
40$96,033$19,148
H FRANK VOELKERACCOUNTING MANAGER
Officer
40$86,363$18,286
JOSEPH CUSENZACHAIRPERSON
Trustee or director
1$0$0
JIMMIE COLEVICE CHAIRPERSON
Trustee or director
1$0$0
NICOLE DIDATREASURER
Trustee or director
1$0$0
ROBERT GOWATCHDIRECTOR
Trustee or director
1$0$0
JOHN LISSDIRECTOR
Trustee or director
1$0$0
MICHAEL WAGNERDIRECTOR
Trustee or director
1$0$0
DAVID BRYANTDIRECTOR
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensationOther / benefits
JOSEPH HALLMANPRESIDENT/CEO
Officer
40$209,177$43,458
SHERRY LAWFIELDVP RETAIL OPERATIONS
Highest-paid employee
40$107,356$19,956
H FRANK VOELKER IIACCOUNTING MANAGER
Officer
40$84,707$17,376
JOSEPH CUSENZACHAIRPERSON
Trustee or director
1$0$0
JIMMIE COLEV. CHAIRPERSON
Trustee or director
1$0$0
NICOLE DIDIATREASURER
Trustee or director
1$0$0
KENNETH JURINICSECRETARY
Trustee or director
1$0$0
ROBERT GOWATCHDIRECTOR
Trustee or director
1$0$0
JOHN LISSDIRECTOR
Trustee or director
1$0$0
MICHAEL WAGNERDIRECTOR
Trustee or director
1$0$0
DAVID BRYANTDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
39139 MOUND RD, STERLING HTS, MI 48310-2737
In care of
% JOSEPH HALLMAN
Signed the 990
JOSEPH HALLMAN, PRESIDENTCEO
Phone
(586) 264-1212
Return prepared by
WILLIAM ARVO CPA PLLC

Mission

TO PROVIDE OUR MEMBERS WITH AN INNOVATIVE AND QUALITY FULL SERVICE FINANCIAL SYSTEM.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDE 9,883 MEMBERS WITH VARIOUS SAVINGS, SHARE DRAFT, CEDRTIFICATE OF DEPOSIT, IRA AND MONEY MARKET ACCOUNTS WITH AN AGGREGATE BALANCE OF APPROXIMATELY $88,176,500 AS OF DECEMBER 31, 2024.
    Expenses $5,350,420
  • OFFER AUTOMATEED TELLER MACHINES, DEBIT CARDS, CHECK CASHING, BILL PAYMENTS, WIRE TRANSFERS AND VARIOUS INSURANCE PROGRAMS TO OUR MEMBERS.
  • PROVIDE 3,664 LOANS INCLUDING VEHICLE, SIGNATURE, CREDIT CARD, MORTGAGE, HOME EQUITY, OVERDRAFT PROTECTION AND RECREATIONAL VEHICLE. TOTAL OUTSTANDING LOANS APPROXIMATED $45,617,000 AS OF DECEMBER 31, 2024

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
38-1406340
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
Assets (IRS master file)
$102,891,778
Income (IRS master file)
$5,673,595

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$5,651,272$5,350,420$102,891,778XML
990December 2023$5,229,098$5,061,470$106,015,170XML
990December 2022$4,896,131$4,552,199$107,543,903IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 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 38-1406340).

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 38-1406340.
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 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 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 2024.
Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
The 990 for the year ended December 31, 2024 lists 11 people; 4 received compensation from the organization, the highest $214,426 (JOE HALLMAN, PRESIDENTCEO).
How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
On its 990 for the year ended December 31, 2024 it reported revenue of $5,651,272, expenses of $5,350,420 and total assets of $102,891,778 at year end.

Other nonprofits in STERLING HTS

All nonprofits in STERLING HTS · Michigan