2024-09-16T16:32:22-05:00 2023-12-31 382492570 DOEREN MAYHEW 305 WEST BIG BEAVER ROAD TROY MI 48084 990 2023-01-01 381401260 OMNI COMMUNITY CREDIT UNION OMNI 2694411400 3141 CAPITAL AVE SW BATTLE CREEK MI 490154107 DEBI SOUTHWORTH CHIEF FINANCIAL OFFICER 2694411400 2024-09-16 1 0 BRANDON M WILSON P02447970 2482443000 2024-09-16 2023 2024-08-08 14:25:15Z MARK CRAMER 3141 SW CAPITAL AVE BATTLE CREEK MI 490154107 37118137 0 1359 X WWW.OMNICOMMUNITYCU.ORG X 1966 MI TO ENCOURAGE THRIFT AMONG ITS MEMBERS, PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS, AND PROVIDE AN OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITION. 7 7 195 7 125203 0 0 1500000 27317644 30799362 4316747 4565225 322607 253550 31956998 37118137 59045 49880 0 0 10270478 11290513 0 0 0 14438885 18531539 24768408 29871932 7188590 7246205 598685081 586743175 534889022 514295462 63796059 72447713 TO PROVIDE THE BEST POSSIBLE FINANCIAL SERVICES TO OUR MEMBERS AT COMPETITIVE RATES AND TO MAINTAIN THE CREDIT UNION'S LONG-TERM FINANCIAL STABILITY. 0 0 SERVED APPROXIMATELY 45,000 MEMBERS BY OFFERING LOANS, DEPOSITS, AND VARIOUS OTHER FINANCIAL PRODUCTS. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21409 0 1 195 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 0 1 1 1 1 0 X DEBI SOUTHWORTH 2694411400 3141 CAPITAL AVE SW BATTLE CREEK MI 49015 ROGER DAVIS CHAIRPERSON 2.00 X 0 0 0 ROBERT LAMBERT VICE CHAIRPERSON 2.00 X 0 0 0 RICHARD TOBIAS DIRECTOR 2.00 X 0 0 0 ROBIN WHITLOCK DIRECTOR 2.00 X 0 0 0 MIKE WOOD DIRECTOR 2.00 X 0 0 0 WILLIAM WOODWARD SECRETARY/TREASURER 2.00 X 0 0 0 ANNA FRANCE DIRECTOR 2.00 X 0 0 0 THEODORE K PARSONS JR CEO - RETIRED NOV 2023 75.00 X 1056583 0 38412 MARK CRAMER CFO, CEO EFF. NOV 2023 55.00 X 288504 0 79555 DEBI SOUTHWORTH CFO 55.00 X 214883 0 39181 CHRIS OVERBEEK CMO 55.00 X 185795 0 57812 SCOTT JOHNSTON CTO 55.00 X 253879 0 27362 PATRICE NEFF CHRO 55.00 X 181725 0 34621 DOMINIC TOCCI SOFTWARE ENGINEER 40.00 X 173680 0 13400 JOEL PYRAD ENTERPRISE ARCHITEC 40.00 X 141486 0 30718 2496535 0 321061 13 0 1 0 CO-OP SOLUTIONS 9692 HAVEN AVE SUITE 300 RANCHO CUCAMONGA CA 91730 ATM/DEBIT CARD PROCESSOR 1724782 MEMBER DRIVEN TECHNOLOGY 30230 ORCHARD LAKE RD FARMINGTON HILLS MI 48334 DATA PROCESSING 1602278 MASTERCARD INTERNATIONAL 2200 MASTERCARD BLVD OFALLON MO 63368 CARD PROVIDER 1220528 SOFTCHOICE CORPORATION 16609 COLLECTIONS CENTER DR CHICAGO IL 60693 COMPUTER HARDWARD/CLOUD PROVIDER 269815 SIMON ASSOCIATES ADVERTISING 1960 BENEDICT CAYON DR BEVERLY HILLS CA 90210 ADVERTISING 213489 11 1500000 1500000 LOAN INTEREST 522100 19884829 19884829 FEES & CHARGES 522100 10914533 10914533 30799362 4565225 4565225 EQUITY IN EARNINGS OF CUSO 522100 128347 128347 FINANCE AND INSURANCE 520000 125203 125203 253550 37118137 35492934 125203 0 X 32880 17000 1717118 7268507 450785 1206584 647519 80000 323015 522231 1386103 1633084 757322 147568 344 4273809 1152423 127538 PROVISION FOR LOAN LOSS 2782480 ATM EXPENSES 2396645 LOAN SERVICING 1268181 VISA DEBIT/CREDIT EXPEN 645357 1035439 29871932 6972151 6116151 9418028 8626883 5345 7449 281583804 310469172 990104 1097061 29830896 13977831 16311321 15853065 240921776 206329745 16442900 11384900 26039652 26858749 598685081 586743175 6213984 7664799 11000000 528675038 495630663 534889022 514295462 X 0 0 0 0 63796059 72447713 63796059 72447713 598685081 586743175 X 7246205 4974614 -3569165 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2224552 2224552 19251574 6674545 12577029 120876 108789 12087 8233894 7194497 1039397 15853065 MEMBERS SHARE ACCOUNTS 495630663 495630663 X 37118137 0 37118137 0 37118137 29871932 0 29871932 0 29871932 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE AND IRC SECTION 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. 1 HUMANE SOCIETY OF SOUTH CENTRAL MICHIGAN 2500 WATKINS RD BATTLE CREEK MI 49015 134148824 501(C)(3) 6422 0 CHARITABLE CONTRIBUTION KALAMAZOO HUMANE SOCIETY 2272 RIVER ST KALAMAZOO MI 49048 381474932 501(C)(3) 6422 0 CHARITABLE CONTRIBUTION SOUTH MICHIGAN FOOD BANK 5451 WAYNE RD BATTLE CREEK MI 49037 382445948 501(C)(3) 7069 0 CHARITABLE CONTRIBUTION VETERANS HELPING VETERANS 5017 E WASHINGTON ST TAMPA FL 33619 464123917 501(C)(3) 9784 0 CHARITABLE CONTRIBUTION 4 0 SCHOLARSHIPS 4 17000 PART I, LINE 2: THE CREDIT UNION HAS A COMMITTEE THAT REVIEWS SUBMISSIONS FOR THE GRANT PROGRAM. THE COMMITTEE REVIEWS REQUIRED DOCUMENTS AND THEN SUBMITS THE WINNERS TO OUR BOARD OF DIRECTORS FOR FINAL APPROVAL. FORM 990, SCH I, PART III OMNI COMMUNITY CREDIT UNION'S SCHOLARSHIP PROGRAM PROVIDES THE OPPORTUNITY TO APPLY FOR SCHOLARSHIPS TO HELP WITH COSTS OF A HIGHER EDUCATION TO THE COLLEGE, UNIVERSITY OR VOCATIONAL SCHOOL OF YOUR CHOICE. THE CREDIT UNION GRANTED $5,000 SCHOLARSHIPS TO THREE HIGH SCHOOL SENIORS AND ONE $2,000 DORORTHY A. THOMAS SCHOLARSHIP TO ONE FEMALE SENIOR WHO HAS A PROVEN TRACK RECORD IN COMMUNITY SERVICES. STUDENTS MUST BE MEMBERS OF THE CREDIT UNION IN ORDER TO BE ELIGIBLE FOR THE SCHOLARSHIP. ALL SCHOLARSHIP WINNERS MUST SUBMIT A SENIOR PICTURE UPON RECEIVING THE NEWS THAT THEY HAVE WON IN ORDER TO RECEIVE THE SCHOLARSHIP MONEY. X 1 1 X X 0 1 0 THEODORE K PARSONS JR CEO - RETIRED NOV 2023 344000 0 164000 0 548583 0 12936 0 25476 0 1094995 0 492085 0 MARK CRAMER CFO, CEO EFF. NOV 2023 240000 0 43901 0 4603 0 56683 0 22872 0 368059 0 0 0 SCOTT JOHNSTON CTO 228604 0 22334 0 2941 0 6538 0 20824 0 281241 0 0 0 DEBI SOUTHWORTH CFO 192500 0 19061 0 3322 0 38615 0 566 0 254064 0 0 0 CHRIS OVERBEEK CMO 165000 0 18321 0 2474 0 35764 0 22048 0 243607 0 0 0 PATRICE NEFF CHRO 167000 0 11719 0 3006 0 33759 0 862 0 216346 0 0 0 DOMINIC TOCCI SOFTWARE ENGINEER 158346 0 8849 0 6485 0 12965 0 435 0 187080 0 0 0 JOEL PYRAD ENTERPRISE ARCHITEC 127000 0 13111 0 1375 0 10943 0 19775 0 172204 0 0 0 PART I, LINE 4B THE CEO, THEODORE K. PARSONS JR., RETIRED IN NOVEMBER 2023. HE PARTICIPATED IN A DEFERRED COMPENSATION PLAN. THE CEO BECAME VESTED IN 50% OF THE BENEFITS PAYABLE ON JUNE 30, 2019. HE BECAME FULLY VESTED IN THE REMAINING BENEFITS PAYABLE ON JUNE 30 2023. AS A RESULT, THE RETIRING CEO RECEIVED A BENEFIT PAYOUT IN THE AMOUNT OF $548,105 DURING 2023. THE CREDIT UNION ESTABLISHED A 457(F) PLAN FOR CERTAIN EXECUTIVES, INCLUDING THE NEWLY NAMED CEO, MARK CRAMER, CMO, CHRIS OVERBEEK, CFO, DEBI SOUTHWORTH, CTO, SCOTT JOHNSTON, AND CHRO, PATRICE NEFF. PER THE PLAN THE PARTICIPANT BECOMES 10% ACCRUED AT THE TIME OF CONTRIBUTION AND ANOTHER 10% ACCRUED IN EACH SUBSEQUENT YEAR, WITH THE PARTICIPANT BEING FULLY ACCRUED IN A CONTRIBUTION AT THE END OF THE 9TH SUBSEQUENT YEAR. AS OF DECEMBER 31, 2023 THE CEO HAD EARNED $107,500 OF THE $240,000 THAT THE CREDIT UNION CONTRIBUTED INTO THE PLAN, THE CMO HAD EARNED $62,500 OF THE $145,000 THAT THE CREDIT UNION CONTRIBUTED INTO THE PLAN, THE CFO HAD EARNED $64,500 OF THE $150,000 THAT THE CREDIT UNION CONTRIBUTED INTO THE PLAN, THE CTO HAD EARNED $5,000 OF THE $50,000 THAT THE CREDIT UNION CONTRIBUTED INTO THE PLAN, AND THE CHRO HAD EARNED $53,000 OF THE $135,000 THAT THE CREDIT UNION CONTRIBUTED INTO THE PLAN. FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A WHEN A DIRECTOR'S TERM IS UP, WE HAVE AN ELECTION WHERE OUR MEMBERSHIP VOTES, TO EITHER RE-ELECT A DIRECTOR OR ELECT A NEW DIRECTOR. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND CEO REVIEW FORM 990 PRIOR TO FILING. A COPY OF THE COMPLETED FORM 990 IS MADE AVAILABLE TO THE MEMBERS OF THE BOARD TO REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES THE CEO'S COMPENSATION. THE CEO APPROVES THE COMPENSATION FOR THE OTHER MEMBERS OF THE MANAGEMENT TEAM THROUGH THE USE OF A SALARY COMPENSATION STUDY. THE MANAGMENT TEAM'S COMPENSATION IS EVALUATED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, QUARTERLY FINANCIAL STATEMENTS ARE AVAILABLE ONLINE FOR PUBLIC VIEWING VIA NCUA.GOV. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES 323,015. FORM 990, PART IX, LINE 24E MAINTENANCE 514,041. MISCELLANEOUS 336,432. TRAINING AND EDUCATION 188,171. OTHER REAL STATE OWNED EXPENSE -3,205. FORM 990, PART XI, LINE 9: NET CHANGE IN UNREALIZED GAINS ON POSTRETIREMENT PLAN OBLIGATIONS 68,051. CUMULATIVE EFFECT FROM CHANGE IN ACCOUNTING PRINCIPLE -3,637,216. FORM 990, PART XII, LINE 2C: WE HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPEDENT ACCOUNTANT. OUR PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: MARK CRAMER, CEO, IS ON THE BOARD OF DIRECTORS FOR MEMBER FIRST MORTGAGE AND COMMERCIAL ALLIANCE. HE DOES NOT RECEIVE ANY COMPENSATION AS A BOARD MEMBER.