Nonprofit · EIN 38-1524325
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 561 TLC COMMUNITY CREDIT UNION
Tax-exempt · ADRIAN, MI 49221
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $40,573,625 | $30,822,747 | $9,750,878 | $784,182,164 | $696,540,451 | $87,641,713 |
| December 31, 2023 | 990 | $34,438,890 | $24,660,197 | $9,778,693 | $715,763,418 | $641,150,356 | $74,613,062 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $27,777,306
- Investment income
- $12,794,762
- Net rental income
- $1,557
- Net gain from sales of assets
- -$309,454
- Other revenue
- $1,557
Expenses
- Grants and similar amounts paid
- $211,213
- Compensation of officers, directors and key employees
- $611,774
- Other salaries and wages
- $7,396,912
- Salaries, compensation and benefits (total)
- $10,700,259
- Professional fundraising fees
- $0
- Legal fees
- $21,452
- Accounting fees
- $193,298
- Occupancy
- $808,849
- Depreciation
- $786,550
Balance sheet and other
- Total assets, start of year
- $715,763,418
- Total assets, end of year
- $784,182,164
- Total liabilities, end of year
- $696,540,451
- Net assets, end of year
- $87,641,713
- Land, buildings and equipment
- $14,061,151
- Gross unrelated business income
- $72,318
- Gross receipts
- $51,200,567
- Employees
- 170
- Volunteers
- 12
- Year formed
- 1956
- 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 |
|---|---|---|---|---|
| JEFF BREHMER | CEO Officer | 40 | $349,302 | $118,522 |
| ALYCIA NICHOLS | EVP-OPERATIONS & LENDING Highest-paid employee | 40 | $183,965 | $48,672 |
| PAUL CORAZZOL | SVP INFORMATION SERVICES Highest-paid employee | 40 | $162,677 | $44,784 |
| MICHAEL ZARNECKI | SVP OPERATIONS Highest-paid employee | 40 | $156,224 | $38,801 |
| JENNIFER FROST | SR VP FINANCE Officer | 40 | $128,049 | $15,901 |
| RANDALL SMITH | FORMER CEO Former | 40 | $139,323 | $0 |
| LINDA TOMFORD | VP HUMAN RESOURCES Highest-paid employee | 40 | $112,291 | $13,816 |
| BAILEY DAMON | VP BRANCH OPERATIONS Highest-paid employee | 40 | $107,016 | $13,261 |
| MARK SPOHR | CHAIRPERSON Trustee or director | 2 | $0 | $0 |
| LISA WEDDIE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TROY BEVIER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD EGLI | VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| JOE MURPHY | TREASURER Trustee or director | 1 | $0 | $0 |
| MARK BRUGGEMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MEREDITH FRANCIS | SECRETARY Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JEFF BREHMER | EVP-CFO/CEO Officer | 40 | $308,649 | $102,597 |
| RANDALL SMITH | CEO Officer | 40 | $181,419 | $41,786 |
| ALYCIA NICHOLS | EVP-OPERATIONS & LENDING Highest-paid employee | 40 | $172,716 | $46,741 |
| PAUL CORAZZOL | SVP INFORMATION SERVICES Highest-paid employee | 40 | $156,088 | $41,005 |
| MICHAEL ZARNECKI | SVP OPERATIONS Highest-paid employee | 40 | $138,015 | $35,705 |
| LORIE EASTON | SVP CONSUMER LENDING Highest-paid employee | 40 | $147,148 | $18,144 |
| LINDA TOMFORD | VP HUMAN RESOURCES Highest-paid employee | 40 | $106,292 | $13,088 |
| JENNIFER FROST | SR VP FINANCE Officer | 40 | $104,930 | $8,965 |
| MARK SPOHR | CHAIRPERSON Trustee or director | 2 | $0 | $0 |
| CHRIS LANE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TROY BEVIER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD EGLI | VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| JOE MURPHY | TREASURER Trustee or director | 1 | $0 | $0 |
| MARK BRUGGEMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MEREDITH FRANCIS | SECRETARY Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3030 S ADRIAN HWY, ADRIAN, MI 49221-9291
- Principal officer (990 for 2024)
- JEFF BREHMER, 3030 S ADRIAN HWY, ADRIAN, MI 49221
- Signed the 990
- JEFF BREHMER, CEO
- Phone
- (517) 423-9120
- Website
- WWW.TLCCU.ORG
- Return prepared by
- DOEREN MAYHEW
Mission
TO PROMOTE THE PHILOSOPHY OF PEOPLE HELPING PEOPLE. STRIVING TO BE THE PRIMARY PROVIDER OF FINANCIAL SERVICES TO OUR MEMBERS AND THEIR FAMILIES BY PROVIDING THE OPPORTUNITY TO ACHIEVE FINANCIAL SECURITY AND WELL-BEING.
Program accomplishments
- PROVIDE 55,790 MEMBERS WITH SAVINGS, SHARE DRAFTS, CLUB, MONEY MARKET, BUSINESS, INDIVIDUAL RETIREMENT, AND CERTIFICATES OF DEPOSIT ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $667,988,000 AS OF DECEMBER 31, 2024.
- PROVIDE 15,775 NEW AND USED AUTO, UNSECURED, OVERDRAFT, COMMERCIAL, REAL ESTATE, HOME EQUITY, STUDENT AND CREDIT CARD LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $371,589,000 AS OF DECEMBER 31, 2024.
- OFFER ATM, ON-LINE BANKING, AUDIO RESPONSE, ACH, SAFE DEPOSIT BOXES, OVERDRAFT PROTECTION, CHECK CASHING, TRAVEL CARDS, MOBILE BANKING, MOBILE DEPOSIT CAPTURE AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS.
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
- 38-1524325
- 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)
- $784,182,164
- Income (IRS master file)
- $51,200,567
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $40,573,625 | $30,822,747 | $784,182,164 | XML |
| 990 | December 2023 | $34,438,890 | $24,660,197 | $715,763,418 | XML |
| 990 | December 2022 | $27,618,251 | $19,570,980 | $686,921,237 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 38-1524325).
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 38-1524325.
- 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 JEFF BREHMER.
- 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 15 people; 8 received compensation from the organization, the highest $349,302 (JEFF BREHMER, 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 $40,573,625, expenses of $30,822,747 and total assets of $784,182,164 at year end.
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