Nonprofit · EIN 38-1489454
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 126 MEMBERS FIRST CREDIT UNION
Tax-exempt · MIDLAND, MI 48640
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $62,164,036 | $59,767,012 | $2,397,024 | $850,578,095 | $784,694,457 | $65,883,638 |
| December 31, 2023 | 990 | $54,322,500 | $51,839,473 | $2,483,027 | $827,697,863 | $765,997,655 | $61,700,208 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $315,000
- of which government grants
- $300,000
- Program service revenue
- $56,504,350
- Investment income
- $5,344,686
- Net gain from sales of assets
- $659,408
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $258,294
- Compensation of officers, directors and key employees
- $1,763,385
- Other salaries and wages
- $15,043,866
- Salaries, compensation and benefits (total)
- $21,192,122
- Professional fundraising fees
- $0
- Legal fees
- $63,343
- Accounting fees
- $255,753
- Occupancy
- $919,232
- Travel
- $199,386
- Depreciation
- $1,756,464
Balance sheet and other
- Total assets, start of year
- $827,697,863
- Total assets, end of year
- $850,578,095
- Total liabilities, end of year
- $784,694,457
- Net assets, end of year
- $65,883,638
- Land, buildings and equipment
- $15,603,047
- Publicly traded securities
- $143,733,190
- Gross unrelated business income
- $54,162
- Gross receipts
- $64,839,036
- Employees
- 299
- Volunteers
- 8
- Year formed
- 1936
- 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 |
|---|---|---|---|---|
| CARRIE IAFRATE | CEO Officer | 40 | $390,152 | $50,904 |
| TAMARA MCGOVERN | CFO Officer | 40 | $330,544 | $53,608 |
| MARCIE LONG | CPSO Officer | 40 | $221,140 | $40,077 |
| AMY GARVER | COO Officer | 40 | $221,332 | $30,071 |
| JOHN PEPMEIER | VP FINANCE Key employee | 40 | $181,946 | $36,914 |
| NICHOLAS GROULX | VP CHANNEL DELIVERY Key employee | 40 | $171,870 | $34,827 |
| KELLY KAMMER | VP RISK MANAGEMENT Highest-paid employee | 40 | $160,266 | $44,824 |
| BETHANY DUTCHER | VP MARKETING Highest-paid employee | 40 | $158,849 | $38,285 |
| REID LUNDEEN | VP LENDING Highest-paid employee | 40 | $137,510 | $41,769 |
| EVERETT PETERSON | VP TECHNOLOGY Highest-paid employee | 40 | $133,242 | $40,437 |
| NOELLE ROBINSON | VP CULTURE & EMPLOYEE DEVELOPMENT Highest-paid employee | 40 | $127,828 | $32,607 |
| KEVIN BROTT | VICE CHAIRPERSON Trustee or director | 4 | $0 | $0 |
| JENNI BUSH | SECRETARY Trustee or director | 4 | $0 | $0 |
| ROBERT COOPER | CHAIRPERSON Trustee or director | 4 | $0 | $0 |
| RENEE DECKROW | DIRECTOR Trustee or director | 4 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOSEPH KREUSCH | DIRECTOR Trustee or director | 4 | $0 |
| GRANT MURSCHEL | DIRECTOR Trustee or director | 4 | $0 |
| ERIN STRANG | DIRECTOR Trustee or director | 4 | $0 |
| DAVID THOMPSON | TREASURER Trustee or director | 4 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CARRIE IAFRATE | PRESIDENT/CEO Officer | 40 | $368,331 | $47,540 |
| TAMARA MCGOVERN | CFO Officer | 40 | $309,313 | $50,679 |
| MARCIE LONG | CSO Officer | 40 | $202,981 | $36,287 |
| AMY GARVER | COO Officer | 40 | $204,273 | $25,272 |
| REID LUNDEEN | VP OF LENDING Key employee | 40 | $159,318 | $39,195 |
| JOHN PEPMEIER | VP FINANCE Key employee | 40 | $169,007 | $20,371 |
| KELLY KAMMER | VP OF RISK MANAGEMENT Highest-paid employee | 40 | $149,710 | $39,384 |
| NICHOLAS GROULX | VP CHANNEL DELIVERY Key employee | 40 | $162,559 | $17,457 |
| BETHANY DUTCHER | VP MARKETING Highest-paid employee | 40 | $138,909 | $30,298 |
| EVERETT PETERSON | VP TECHNOLOGY Highest-paid employee | 40 | $117,548 | $36,086 |
| NOELLE ROBINSON | VP CULTURE & EMPLOYEE DEVELOPMENT Highest-paid employee | 40 | $116,378 | $23,265 |
| NITA HAAS | REAL ESTATE LENDING LEADER Highest-paid employee | 40 | $130,901 | $2,486 |
| KEVIN BROTT | DIRECTOR Trustee or director | 4 | $0 | $0 |
| JENNI BUSH | SECRETARY Trustee or director | 4 | $0 | $0 |
| ROBERT COOPER | CHAIRPERSON Trustee or director | 4 | $0 | $0 |
| RENEE DECKROW | DIRECTOR Trustee or director | 4 | $0 | $0 |
| JOSEPH KREUSCH | DIRECTOR Trustee or director | 4 | $0 | $0 |
| ROBERT LANCASTER | VICE CHAIRPERSON Trustee or director | 4 | $0 | $0 |
| GRANT MURSCHEL | DIRECTOR Trustee or director | 4 | $0 | $0 |
| CLARE TAYLOR JR | DIRECTOR Trustee or director | 4 | $0 | $0 |
| DAVID THOMPSON | TREASURER Trustee or director | 4 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 600 W WACKERLY ST, MIDLAND, MI 48640-4702
- In care of
- % KRIS WALTERS
- Principal officer (990 for 2024)
- CARRIE IAFRATE, 600 W WACKERLY STREET, MIDLAND, MI 48641
- Signed the 990
- TAMARA MCGOVERN, CFO
- Phone
- (989) 835-5100
- Website
- WWW.MFCU.NET
- Return prepared by
- DOEREN MAYHEW
Mission
THE MISSION OF MEMBERS FIRST CREDIT UNION IS ENCOURAGING A BETTER TOMORROW. WE DELIVER ON THIS MISSION BY BEING TRUSTWORTHY, CARING, AND ENTHUSIASTIC. WE EMPOWER OUR PEOPLE IN THEIR JOURNEY OF WELLBEING. WE BELIEVE IN PURPOSE, BELONGING, AND JOY; WHEN OUR PEOPLE FIND THIS IN THEIR WORK AND THE PEOPLE THEY WORK WITH, AMAZING THINGS HAPPEN.
Program accomplishments
- PROVIDED APPROXIMATELY 60,000 LOANS TO MEMBERS, INCLUDING CONSUMER, REAL ESTATE, CREDIT CARD AND SMALL BUSINESS LOANS.
- OFFER OVER 65,000 MEMBERS METHODS TO INCREASE THEIR FINANCIAL WELLBEING WITH SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT AND OTHER DEPOSIT AND INVESTMENT PRODUCTS AND OPTIONS.
- OFFER MEMBERS VARIOUS METHODS TO ACHIEVE THEIR FINANCIAL GOALS THROUGH PERSONAL CONTACT, ELECTRONIC AND ONLINE SERVICES.
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
- 38-1489454
- 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)
- $850,578,095
- Income (IRS master file)
- $64,839,036
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $62,164,036 | $59,767,012 | $850,578,095 | IRS |
| 990 | December 2023 | $54,322,500 | $51,839,473 | $827,697,863 | XML |
| 990 | December 2022 | $44,711,143 | $39,920,308 | $814,371,674 | 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 38-1489454).
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 38-1489454.
- 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 is the principal officer of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 names CARRIE IAFRATE.
- 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 19 people; 11 received compensation from the organization, the highest $390,152 (CARRIE IAFRATE, CEO).
- 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 $62,164,036, expenses of $59,767,012 and total assets of $850,578,095 at year end.
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