Nonprofit · EIN 38-1999910
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 1162 LENCO CREDIT UNION
Tax-exempt · ADRIAN, MI 49221
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $7,150,054 | $5,268,593 | $1,881,461 | $139,542,873 | $122,728,130 | $16,814,743 |
| December 31, 2024 | 990 | $6,517,000 | $4,791,109 | $1,725,891 | $131,441,158 | $116,507,876 | $14,933,282 |
| December 31, 2023 | 990 | $5,021,107 | $3,883,344 | $1,137,763 | $121,319,921 | $908,432 | $120,411,489 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $4,917,363
- Investment income
- $2,232,691
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $387,359
- Other salaries and wages
- $981,458
- Salaries, compensation and benefits (total)
- $1,743,775
- Professional fundraising fees
- $0
- Legal fees
- $4,186
- Occupancy
- $158,643
- Travel
- $9,595
- Depreciation
- $95,000
Balance sheet and other
- Total assets, start of year
- $131,441,158
- Total assets, end of year
- $139,542,873
- Total liabilities, end of year
- $122,728,130
- Net assets, end of year
- $16,814,743
- Land, buildings and equipment
- $2,700,627
- Gross unrelated business income
- $11,152
- Gross receipts
- $7,150,054
- Employees
- 22
- Volunteers
- 9
- Year formed
- 1970
- 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 |
|---|---|---|---|---|
| BEN NEAL | President & CEO Officer | 40 | $170,579 | $36,262 |
| LINDA BENSCHOTER | Vice President Officer | 40 | $163,495 | $17,023 |
| ROBERT WRIGHT | Director Trustee or director | 1 | $0 | $0 |
| SAM EWING | Chairman Trustee or director | 1 | $0 | $0 |
| KEITH DERSHAM | Director Trustee or director | 1 | $0 | $0 |
| DEANNA HARTLEY | Secretary Trustee or director | 1 | $0 | $0 |
| CINDY PRUE | Treasurer Trustee or director | 1 | $0 | $0 |
| MICHAEL CRAFTS | Director Trustee or director | 1 | $0 | $0 |
| WILLIAM BLACKERBY | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LINDA BENSCHOTER | Vice President Officer | 40 | $240,995 | $18,200 |
| BEN NEAL | President & CEO Officer | 40 | $175,393 | $25,400 |
| EILEEN LOVELAND | VICE PRESIDENT | 40 | $120,269 | $0 |
| ROBERT WRIGHT | Director Trustee or director | 1 | $0 | $0 |
| SAM EWING | Chairman Trustee or director | 1 | $0 | $0 |
| KEITH DERSHAM | Director Trustee or director | 1 | $0 | $0 |
| DEANNA HARTLEY | Secretary Trustee or director | 1 | $0 | $0 |
| CINDY PRUE | Treasurer Trustee or director | 1 | $0 | $0 |
| MICHAEL CRAFTS | Director Trustee or director | 1 | $0 | $0 |
| WILLIAM BLACKERBY | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Ben Neal | President CEO Key employee, Highest-paid employee | 40 | $164,574 |
| Eileen Loveland | Credit Committee Member Trustee or director, Key employee | 1 | $122,400 |
| Linda Benschoter | Credit Committee Member Trustee or director, Key employee | 40 | $121,995 |
| Robert Wright | Board Member Trustee or director | 1 | $0 |
| Sam Ewing | Board Chairman Trustee or director | 1 | $0 |
| Keith Dersham | Board Member Trustee or director | 1 | $0 |
| Deanna Hartley | Board Secretary Trustee or director | 1 | $0 |
| Cindy Prue | Board Treasurer Trustee or director | 1 | $0 |
| David Chambers | Credit Committee Member Trustee or director | 1 | $0 |
| Michael Crafts | Board Member Trustee or director | 1 | $0 |
| Wayland Echelbarger | Credit Committee Member Trustee or director | 1 | $0 |
| William Blackerby | Board Member Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 615 W MAPLE AVE, ADRIAN, MI 49221-1630
- Principal officer (990 for 2025)
- BEN NEAL, 615 WEST MAPLE AVENUE, ADRIAN, MI 49221
- Signed the 990
- BEN NEAL, President & CEO
- Phone
- (517) 263-0851
- Website
- https://lenco.org/
- Return prepared by
- FINANCIAL STANDARDS GROUP INC
Mission
Lenco Credit Union is a member-owned financial cooperative. It is our mission to provide member-owners with the highest quality financial services allowed within the realm of safe and sound business practices to encourage thrift, savings, and the wise use of credit to promote the cooperative ideals of the credit union philosophy and to promote and support the people, agencies, and organizations of Lenawee County.
Program accomplishments
- Credit Union Programs: State-chartered not-for-profit financial institution credit union serving 7,548 member-owners in Lenawee.
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
- 38-1999910
- 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)
- $139,542,873
- Income (IRS master file)
- $7,150,054
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $7,150,054 | $5,268,593 | $139,542,873 | IRS |
| 990 | December 2024 | $6,517,000 | $4,791,109 | $131,441,158 | IRS |
| 990 | December 2023 | $5,021,107 | $3,883,344 | $121,319,921 | XML |
| 990 | December 2022 | $3,921,015 | $3,022,397 | $122,648,622 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 38-1999910).
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 38-1999910.
- 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 BEN NEAL.
- 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 9 people; 2 received compensation from the organization, the highest $170,579 (BEN NEAL, President & 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 $7,150,054, expenses of $5,268,593 and total assets of $139,542,873 at year end.
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