2024-05-15T10:25:13-04:00 2023-12-31 383133790 ANDREWS HOOPER PAVLIK PLC 5300 GRATIOT RD SAGINAW MI 486386035 990 2023-01-01 381777731 CREDIT UNIONS CHARTERED IN THE STAT E OF MICHIGAN - UNITED FINANCIAL CR CRED 9897773620 PO BOX 6430 SAGINAW MI 48608 JARED KACZMARCZYK COO 9897773620 2024-05-14 true JARED KACZMARCZYK 999009999 false KEVIN B HUNT P01830636 9894975300 2024-05-14 2023 2023-04-26 12:10:37Z UNITED FINANCIAL CREDIT UNION BARBARA APPOLD PO BOX 6430 SAGINAW MI 48608 15628650 false X WWW.UNITEDFINANCIALCU.ORG X CREDIT UNION 1964 MI THROUGH INNOVATIVE, FRIENDLY, AND QUALITY SERVICE, UNITED FINANCIAL CREDIT UNION WILL PROVIDE LONG-TERM FINANCIAL STABILITY TO OUR CREDIT UNION, OUR MEMBERS AND THEIR FAMILIES 8 8 92 10 63655 9455 0 11265769 12657425 1751586 2302715 -23175 -28289 12994180 14931851 0 0 4074749 4590090 0 0 6266769 8759504 10341518 13349594 2652662 1582257 320414364 320268833 299005822 295728015 21408542 24540818 THROUGH INNOVATIVE, FRIENDLY, AND QUALITY SERVICE, UNITED FINANCIAL CREDIT UNION WILL PROVIDE LONG-TERM FINANCIAL STABILITY TO OUR CREDIT UNION, OUR MEMBERS AND THEIR FAMILIES false false PROVIDE 22,767 MEMBERS WITH REGULAR SHARES, MONEY MARKET, VACATION CLUB, CHRISTMAS CLUB, SHARE DRAFT, IRA, AND CERTIFICATES OF DEPOSIT PROVIDE 9,917 LOANS, INCLUDING VEHICLE, REAL ESTATE, HOME EQUITY, SHARE SECURED, INDIRECT, BUSINESS AND PERSONAL LOANS OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, WIRE TRANSFERS, MONEY ORDERS, BILL PAYMENT, OVERDRAFT PROTECTION/COURTESY PAY, REMOTE DEPOSIT CAPTURE, MOBILE BANKING, ID PROTECTION, AND VARIOUS INSURANCE PROGRAMS TO ALL ELIGIBLE MEMBERS false false false false false false false false false true true false false true true true false false false false false false false false false false false false true false false false false false false false false false false false true false false true 6783 0 true 92 true true true false false false false false false false false false false false X 8 8 false false false false true true false true true false true true true true true true true true true true false X BARBARA APPOLD 9897773620 PO BOX 6430 SAGINAW MI 48608 BARBARA APPOLD CEO 40.00 1.00 X 238971 0 18064 JARED KACZMARCZYK COO 40.00 1.00 X 118627 0 11241 ROBERT CALLISON DIRECTOR 1.00 X 0 0 0 GEORGE CORSER DIRECTOR 1.00 X 0 0 0 SHERWIN FAULT DIRECTOR 1.00 X 0 0 0 PATRICIA HATCH VICE CHAIR/S 1.00 X X 0 0 0 BRUCE MILLER DIRECTOR 1.00 X 0 0 0 JILLYAN POAG DIRECTOR 1.00 X 0 0 0 RONALD TREVILLIAN TREASURER 1.00 X X 0 0 0 JAMES TROMMER DIRECTOR 1.00 X 0 0 0 EDWARD ULMER CHAIRPERSON 1.00 X X 0 0 0 357598 29305 2 false true false LOAN INTEREST 522100 9174633 9174633 FEE AND OTHER INCOME 524298 3419137 3419137 ATM SURCHARGE 524298 63655 63655 12657425 2334043 2334043 22805 51094 -28289 -28289 -28289 452410 161967 502473 143232 -50063 18735 -31328 -31328 14931851 12534153 63655 2334043 386903 3326500 107666 485042 283979 8328 57887 382081 551480 870563 429516 22083 81137 3492493 986643 65426 PROVISION FOR LOAN LOSS 809088 ATM ADMIN 525844 LOAN SERVICING 284169 DEBIT CARD DISPUTE 66769 125997 13349594 0 0 0 2923458 2443338 10801848 6421598 191179418 200059179 681241 719282 21754533 9930478 11519528 11824055 98344058 93448207 474600 474600 4490213 4878574 320414364 320268833 577328 827963 298428494 294900052 299005822 295728015 X 21408542 24540818 21408542 24540818 320414364 320268833 X 1582257 2282947 -732928 X false true X true false 1729125 1729125 12803449 3929773 8873676 7221959 6000705 1221254 11824055 AFS SECURITIES 89218107 F OTHER CERTIFICATES OF DEPOSIT 3330000 C FEDERAL HOME LOAN STOCK 900000 C CO-OP STOCK 100 C 93448207 MEMBER SHARES 294900052 294900052 X 15033008 15033008 -101157 -101157 14931851 13450751 101157 101157 13349594 13349594 SCHEDULE D, PAGE 3, PART X THE CREDIT UNION HAS EVALUATED ITS INCOME TAX FILING POSITIONS FOR THE YEARS 2020 THROUGH 2023, THE YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2023. THE CREDIT UNION CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE CREDIT UNION'S FINANCIAL STATEMENTS. THE CREDIT UNION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS ("UTB")(E.G., TAX DEDUCTIONS, EXCLUSIONS, OR CREDITS CLAIMED OR EXPECTED TO BE CLAIMED) TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE CREDIT UNION DOES NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES RELATED TO UTBS AT DECEMBER 31, 2023 AND 2022, AND IT IS NOT AWARE OF ANY CLAIMS FOR SUCH AMOUNTS BY FEDERAL OR STATE INCOME TAX AUTHORITIES. SCHEDULE D, PAGE 4, PART XI, LINE 4B RENTAL EXPENSES -51,094 LOSS ON SECURITIES -50,063 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSES 51,094 LOSS ON SECURITIES 50,063 X false false false BARBARA APPOLD CEO 238971 18064 257035 FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION HAS A SINGLE CLASS OF MEMBERS WITH EQUAL RIGHTS OF OWNERSHIP, GOVERNANCE AND VOTING. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING. EACH BOARD MEMBER IS ELECTED FOR A THREE YEAR TERM. FORM 990, PAGE 6, PART VI, LINE 11B A REVIEW IS CONDUCTED BY THE PRESIDENT/CEO AND VP OF ACCOUNTING & COMPLIANCE PRIOR TO SUBMISSION TO THE IRS. THE RETURNS ARE MADE AVAILABLE TO THE BOARD OF THE DIRECTORS FOR REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C POLICIES AND PROCEDURES OUTLINE THE REQUIREMENT TO DISCLOSE. THE POLICIES ARE REVIEWED AND APPROVED ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS COMPLETES AN EVALUATION OF THE PRESIDENT/CEO ANNUALLY. SALARY INCREASES ARE DETERMINED BASED ON PERFORMANCE. FORM 990, PAGE 6, PART VI, LINE 15B THE CLO, COO, VP OF MORTGAGES AND SENIOR BRANCH MANAGER ARE EVALUATED ON AN ANNUAL BASIS. SALARY INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS AND ARE BASED ON PERFORMANCE. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9 CHANGE IN ACCOUNTING PRINCIPLE -732,928 THE DECREASE IN NET ASSETS OF 732,928 WAS DUE TO THE ADOPTION OF THE NEW ACCOUNTING STANDARD - MEASUREMENT OF CREDIT LOSSES ON FINANCIAL INSTRUMENTS. THE FOLLOWING DETAILS THE IMPACT OF THE ADOPTION OF ASC 326: ALLOWANCE FOR CREDIT LOSSES ON LOANS: REAL ESTATE 70,023 CONSUMER AND OTHER 643,965 BUSINESS 18,940 ---------- 732,928 UFIRST FOUNDATION 4685 STATE ST SAGINAW MI 48603 932094395 PC MI 501C3 7 UNITED FIN true false false false false false false false false false false false false false false false false false false false