2024-11-08T09:52:35-06:00 2023-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 381844068 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 6162615657 5801 BROADMOOR AVE SE KENTWOOD MI 49512 LINDSAY HAWLK CFO 6162615657 2024-11-01 1 0 BRANDON M WILSON P02447970 2482443000 2023 2024-10-15 13:58:12Z COMMUNITY WEST CREDIT UNION HEIDI HUNT 5801 BROADMOOR AVE SE KENTWOOD MI 49512 13205868 0 1359 X WWW.COMMUNITYWESTCU.ORG X 1967 MI STATE CHARTERED CREDIT UNION - WE PROVIDE A FULL RANGE OF AFFORDABLE DEPOSITORY AND LENDING SERVICES TO MEMBERS THROUGH 6 BRANCH LOCATIONS, 10 ATM'S, TELEPHONE-BASED ACCESS, INTERNET BASED ACCESS, AND MOBILE ACCESS. 8 8 89 8 38811 0 0 0 9977590 11625144 1065069 1580724 0 0 11042659 13205868 0 0 0 0 5549276 5499103 0 0 0 5931654 8081699 11480930 13580802 -438271 -374934 270578061 256963658 257301879 243067555 13276182 13896103 X AS A STATE CHARTERED CREDIT UNION, WE PROVIDE COMPETITIVE RATES FOR OUR DEPOSITS AND LOANS. WE PROVIDE A FULL RANGE OF AFFORDABLE FINANCIAL SERVICES MEETING MOST PEOPLES' NEEDS. OUR GOAL IS TO BECOME THE PRIMARY FINANCIAL SERVICE PROVIDER FOR THE MAJORITY OF OUR MEMBERSHIP. BY USING OUR CAPITAL EFFECTIVELY, WE WILL PROVIDE APPROPRIATE INCOME LEVELS AND GENERATE A POSITIVE RETURN ON ASSETS. 0 0 INTEREST PAID ON MEMBERS DEPOSITS, IRAS AND CERTIFICATES. THE PURPOSE IS TO PROVIDE INTEREST BEARING SAVING DEPOSIT SERVICES TO OUR MEMBERS. LOAN SERVICING COSTS FOR LENDING PRODUCTS TO OUR MEMBERS. DATA PROCESSING EXPENSES REQUIRED TO PROVIDE LOAN AND DEPOSIT SERVICES TO OUR MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 8711 0 1 89 1 1 1 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 0 1 1 0 0 X ACCOUNTING DEPARTMENT 6162615657 THE 5801 BROADMOOR AVE SE KENTWOOD MI 49512 ALEXANDRIA BALDRIDGE BOARD SECRETARY 2.00 X 0 0 0 PAMELA HOVE BOARD CHAIRPERSON 2.00 X 0 0 0 SHAWN MILLER BOARD VICE CHAIRPERSON 2.00 X 0 0 0 BILL JONES BOARD DIRECTOR 2.00 X 0 0 0 GORDON PLOEG BOARD DIRECTOR 2.00 X 0 0 0 LISA KNAPP BOARD DIRECTOR 2.00 X 0 0 0 SCOTT RATERINK BOARD DIRECTOR 2.00 X 0 0 0 BERNARD ZAHM BOARD TREASURER 2.00 X 0 0 0 LINDSAY HAWLK CFO 40.00 X 136111 0 24405 HEIDI HUNT CEO 40.00 X 233829 0 29092 KAREN VANTIL COO 40.00 X 127470 0 19417 ROBERT LISTEN CIO 40.00 X 120495 0 19730 617905 0 92644 4 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CARD PROCESSOR 863663 CUANSWERS 6000 28TH STREET SE GRAND RAPIDS MI 49546 DATA PROCESSING SYSTEM 516989 MASTERCARD 2000 PURCHASE STREET PURCHASE NY 10577 CARD PROCESSOR 390164 WOLVERINE BUILDING GROUP 4045 BARDEN STREET SE GRAND RAPIDS MI 49512 BUILDING CONSTRUCTION 325988 CORNELIUS SYSTEMS INC 1302 ANDERSON ROAD CLAWSON MI 48017 CASH RECYCLERS 196670 8 LOAN INTEREST 522100 8068124 8068124 FEES, CHARGES, AND OTHER 522100 3518209 3518209 FINANCE & INSURANCE 520000 38811 38811 11625144 1580724 1580724 13205868 13167057 38811 0 X 423437 3791605 213718 792138 278205 91683 182705 70452 216151 1328339 515893 472061 15802 101490 3121264 28006 501854 7002 LOAN SERVICING EXPENSE 1098472 ATM EXPENSE 151100 PROVISION FOR LOAN LOSS 107652 MISC. 42419 29354 13580802 2092726 1868990 10812107 13990928 86754 117707 177519383 159375550 536711 528778 13494663 1984368 10545040 11510295 46509016 46772308 16619207 17242446 87320 52364 5769797 5504292 270578061 256963658 2042786 2830616 20000000 20000000 235259093 220236939 257301879 243067555 X 0 0 0 0 13276182 13896103 13276182 13896103 270578061 256963658 X -374934 1666658 -671803 X X 0 1 X 1 0 2023648 2023648 9774711 1318717 8455994 1612914 618532 994382 83390 47119 36271 11510295 CD'S AFS 15668746 F ALLOYA PERPETUAL CONTRIBUTED CAPITAL 649700 C FHLB STOCK 675000 C CDS (> 12 MONTHS MATURITY 249000 C 17242446 MEMBER DEPOSITS 220236939 220236939 X 13205868 0 13205868 0 13205868 13580802 0 13580802 0 13580802 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES ON INCOME RELATED TO THE EXEMPT PURPOSE OF THE CREDIT UNION. X X X 0 0 0 HEIDI HUNT CEO 218477 0 8517 0 6835 0 9362 0 19730 0 262921 0 0 0 LINDSAY HAWLK CFO 135932 0 0 0 179 0 5490 0 18915 0 160516 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. APPOINTED MEMBERSHIP OFFICERS APPROVE APPLICATIONS FOR MEMBERSHIP FROM ELIGIBLE PERSONS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ARE INVITED TO ATTEND AN ANNUAL MEETING TO ELECT INDIVIDUALS STANDING FOR ELECTION TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ANY BUSINESS ORGANIZATION CHANGES REQUIRE APPROVAL BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION REQUIED TO PREPARE FORM 990 IS GATHERED BY THE CFO AND PROVIDED TO THE PAID PREPARER. THE COMPLETED FORM 990 IS REVIEWED BY THE CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS IN THE EMPLOYEE HANDBOOK, WHICH IS REVIEWED AND SIGNED BY THE EMPLOYEE WHEN HIRED AND THEN ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS USES SALARY COMPARISON REPORT PERIODICALLY TO DETERMINE THE CEO'S SALARY. WE USE A THIRD PARTY VENDOR, BALANCED COMP, TO DETERMINE THE PAY VIA COMPARATIO WHICH IS DETERMINED BY PEER, ASSET SIZE, AND LOCATION FOR ALL STAFF MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON WWW.NCUA.GOV VIA THE QUARTERLY 5300 FILING. ADDITIONALLY, OUR STATEMENT OF FINANCIAL CONDITION IS POSTED IN THE LOBBY OF EACH BRANCH. FORM 990, PART IX, LINE 24E FRAUD EXPENSE 29,354. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -671,803. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. COMMUNITY WEST LEGACY FOUNDATION 5801 BROADMOOR AVE SE KENTWOOD MI 49512 870819573 DEVELOPING AND SUPPORTING CHARITABLE ORGANIZATIONS MI 501(C)(3) LINE 10 COMMUNITY WEST CREDIT UNION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0