2025-11-13T18:54:26-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 380960035 CREDIT UNION CHARTERED IN THE STATE OF COMMUNITY CHOICE CREDIT UNION CRED 8772432528 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 KELLI WISNER-FRANK CFO 8772432528 2025-11-13 1 0 AUBREY CLEGG P01076395 3052328272 2025-11-13 2024 2025-03-06 01:10:19Z ROBERT BAVA 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 124933965 0 1359 X WWW.COMMUNITYCHOICECU.COM X 1935 MI COMMUNITY CHOICE CREDIT UNION IS A MEMBER OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE COMMITTED TO SERVING AS A TRUSTED ADVISOR TO OUR MEMBERS. WE ARE DEDICATED TO IMPROVING THE FINANCIAL LIVES OF OUR MEMBERS AND QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE IN MICHIGAN. WE RECOGNIZE FOUR MAIN CORE VALUES THAT WE STRIVE TO DELIVER WITH EVERY EXPERIENCE: COMMITTED, CHARITABLE, CREDIBLE, AND UNITED. 9 9 503 9 942273 0 0 0 95078708 112080040 5587511 10481347 2235100 2240948 102901319 124802335 79102 14948 0 0 39660623 42026455 0 0 0 58847131 76181788 98586856 118223191 4314463 6579144 1787760337 1844505982 1645059194 1690259030 142701143 154246952 X WE BELIEVE IN HELPING OUR NEIGHBORS ACHIEVE THE LIFE THEY DESIRE. 1 1 LENDING: WE PROVIDED OVER $318 MILLION IN LOANS TO OUR CONSUMER MEMBERS AND OVER $130 MILLION IN LOANS TO BUSINESSES. OUR LOAN PORTFOLIO GREW BY $95 MILLION DURING 2024 TO $1.437 BILLION AS OF DECEMBER 31, 2024. WE ADDED A NEW LOAN PRODUCT CALLED RENOFI WHICH PROVIDES A UNIQUE AND CONVENIENT FINANCING OPTION FOR HOME IMPROVEMENT PROJECTS. DEPOSITS: OUR MEMBERS DEPOSITED OVER $1.5 BILLION WITH US IN SAVINGS, CHECKING, BUSINESS, AND INVESTMENT ACCOUNTS INCLUDING IRA AND CDS. DIGITAL ACCESS: IN SUPPORT OF OUR STRATEGIC FOCUS ON DIGITAL TOGETHER, WE UPGRADED MANY OF OUR ATM MACHINES TO ITM MACHINES. WE UPGRADED COMMUNICATION SYSTEMS TO INCLUDE A MORE ROBUST ONLINE CHAT, VIDEO CALLS, AND CO-BROWSING. WE INCREASED ACCESSIBILITY BY MAKING LOAN PAYMENTS AVAILABLE VIA TEXT FROM ACCOUNTS HELD ANYWHERE; AND WE IMPLEMENTED SAME DAY ELECTRONIC PAYMENTS. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 1 1 1 1 0 1 51175 0 1 503 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X KELLI WISNER-FRANK 8772432528 31155 NORTHWESTERN HWY FARMINGTON HILLS MI 48334 BRIAN WILSON CHAIRPERSON 1.00 X 0 0 0 MARY MIKO DIRECTOR 1.00 X 0 0 0 THOMAS COOK SECRETARY 1.00 X 0 0 0 KATHLEEN BONUTTI TREASURER 1.00 X 0 0 0 TIMOTHY CROSSON VICE CHAIRPERSON 1.00 X 0 0 0 CHERYL MARKS DIRECTOR 1.00 X 0 0 0 ONEATA BAILEY DIRECTOR 1.00 X 0 0 0 TIMOTHY WELCER DIRECTOR 1.00 X 0 0 0 MICHAEL FAHMY DIRECTOR 1.00 X 0 0 0 ROBERT BAVA CEO 40.00 X 1198615 0 70483 KELLI WISNER-FRANK CFO 40.00 X 408491 0 56685 TERESA MAYER CLO 40.00 X 407133 0 7398 DONNA SIEJUTT CHRO 40.00 X 333410 0 49979 DANIEL MUNRO COO/EVP 40.00 X 555437 0 290612 JENNIFER LYNN HURREN SVP CHIEF DIGITAL OFFICER 40.00 X 330094 0 23646 BRIAN WILSON VP RETAIL DELIVERY 40.00 X 246880 0 47483 JEFFREY DUBEY VP RISK MANAGEMENT 40.00 X 257919 0 29169 JENNY LUDWIGSEN VP MARKETING 40.00 X 268274 0 18344 CARLINGTON BUCKNOR VP TECHNOLOGY 40.00 X 261883 0 39983 BARBARA BABINGTON VP LENDING 40.00 X 249259 0 34836 JASON CAIN VP DIGITAL 40.00 X 201812 0 5989 WENDI DIACONO WEALTH ADVISOR 40.00 X 533641 0 24548 FREDERICK MARSZALEC BUSINESS RELATIONSHIP MANAGER 40.00 X 216873 0 43294 ELIZABETH ANNE SPADAFORE SR BUSINESS RELATIONSHIP MANAGER 40.00 X 323736 0 11393 BRENT LOWELL SR BUSINESS RELATIONSHIP MANAGER 40.00 X 330625 0 39610 DONNA BASHI VP BUSINESS DEVELOPMENT 40.00 X 382309 0 23444 6506391 0 816896 65 0 1 0 ANCHOUR CREATIVE 199 LISBON ST LEWISTON ME 04240 MARKETING 4747133 MEMBER DRIVEN TECHNOLOGIES 30230 ORCHARD LAKE RD FARMINGTON HILLS MI 48334 SOFTWARE/TECHNOLOGY SERVICES 2610613 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75320 DIGITAL BANKING 1538461 ROAMING HUNGER LLC 1001 GAYLEY AVE STE 24220 FIRST FLO LOS ANGELES CA 90024 MARKETING SERVICES 1053011 FIRST CLOSE INC PO BOX 225977 DALLAS TX 75222 MORTGAGE SERVICING 574386 45 MEMBER LOANS 522100 80710586 80710586 FEES, CHARGES, AND OTHER 522100 31369454 31369454 112080040 7126891 7126891 522437 0 522437 522437 522437 123916 3362170 122630 9000 1286 3353170 3354456 3354456 FINANCE AND INSURANCE 520000 942273 942273 GAIN FROM CUSO 522100 776238 776238 1718511 124802335 123860062 942273 0 X 14948 5393814 28539141 1189948 4541382 2362170 1028532 286839 160148 11195985 5665683 1942901 1167557 281322 21067269 127631 3118513 325252 PROVISION FOR LOAN LOSS 9464280 DEBIT/CREDIT EXPENSES 7072997 LOAN SERVICING 4750942 MAINTENANCE 4282330 4243607 118223191 27515055 24512135 39350766 20970320 15425230 26544990 14315310 14689242 1330027740 1424669065 3034301 3014601 68353380 23918298 43583861 44435082 225794879 194385129 13735154 14411814 255886 116317 74722155 76757287 1787760337 1844505982 28512479 23513035 100000000 155373490 1516546715 1511372505 1645059194 1690259030 X 0 0 0 0 142701143 154246952 142701143 154246952 1787760337 1844505982 X 6579144 4874748 91917 X X 0 1 X 1 0 12068763 12068763 43347213 15949175 27398038 1410906 139623 1271283 11300597 7825352 3475245 225901 4148 221753 44435082 MEMBER DEPOSITS 1511372505 1511372505 X 124802335 0 124802335 0 124802335 118223191 0 118223191 0 118223191 PART X, LINE 2: INCOME TAXES THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 MICHIGAN CREDIT UNION FOUNDATION PO BOX 8054 PLYMOUTH MI 48170 386066911 501(C)(3) 7500 0 TO SUPPORT CREDIT UNION DEVELOPMENT INITIATIVES. RAINBOW CONNECTION 621 W UNIVERSITY DR ROCHESTER MI 48307 382608775 501(C)(3) 5000 2448 ESTIMATE GIFT BASKETS FOR RAFFLE TO SUPPORT FUNDRAISING RAFFLE 2 0 FORM 990, SCH I, PART I, LINE 2 THESE ARE CHARITABLE CONTRIBUTIONS, NOT GRANTS. X 1 1 X X X X X 1 1 0 ROBERT BAVA CEO 841376 0 352107 0 5132 0 53500 0 16983 0 1269098 0 0 0 DANIEL MUNRO COO/EVP 416677 0 135810 0 2950 0 273877 0 16735 0 846049 0 0 0 WENDI DIACONO WEALTH ADVISOR 65793 0 102872 0 364976 0 24154 0 394 0 558189 0 0 0 KELLI WISNER-FRANK CFO 320344 0 79447 0 8700 0 39950 0 16735 0 465176 0 0 0 TERESA MAYER CLO 314348 0 56650 0 36135 0 6806 0 592 0 414531 0 0 0 DONNA BASHI VP BUSINESS DEVELOPMENT 116200 0 253226 0 12883 0 23000 0 444 0 405753 0 0 0 DONNA SIEJUTT CHRO 254518 0 60998 0 17894 0 33244 0 16735 0 383389 0 0 0 BRENT LOWELL SR BUSINESS RELATIONSHIP MANAGER 134029 0 188616 0 7980 0 23000 0 16610 0 370235 0 0 0 JENNIFER LYNN HURREN SVP CHIEF DIGITAL OFFICER 258203 0 60791 0 11100 0 23000 0 646 0 353740 0 0 0 ELIZABETH ANNE SPADAFORE SR BUSINESS RELATIONSHIP MANAGER 139822 0 183314 0 600 0 4265 0 7128 0 335129 0 0 0 CARLINGTON BUCKNOR VP TECHNOLOGY 210242 0 43229 0 8412 0 23000 0 16983 0 301866 0 0 0 BRIAN WILSON VP RETAIL DELIVERY 195953 0 50327 0 600 0 30500 0 16983 0 294363 0 0 0 JEFFREY DUBEY VP RISK MANAGEMENT 214487 0 42832 0 600 0 10681 0 18488 0 287088 0 0 0 JENNY LUDWIGSEN VP MARKETING 222714 0 42560 0 3000 0 17698 0 646 0 286618 0 0 0 BARBARA BABINGTON VP LENDING 199459 0 49200 0 600 0 28034 0 6802 0 284095 0 0 0 FREDERICK MARSZALEC BUSINESS RELATIONSHIP MANAGER 104876 0 99049 0 12948 0 25036 0 18258 0 260167 0 0 0 JASON CAIN VP DIGITAL 131742 0 30448 0 39622 0 5559 0 430 0 207801 0 0 0 PART I, LINES 4A-B TERESA MAYER: $266,240 JASON CAIN: $31,899 THE FOLLOWING PARTICIPANTS PARTICIPATE IN A NON-QUALIFIED RETIREMENT PLAN: DANIEL MUNRO KELLI WISNER-FRANK ROBERT BAVA DONNA SIEJUTT DAN MUNRO, COO/EVP PARTICIPATES IN A 457F PLAN. THE ACCRUED BENEFIT LIABILITY AS OF DECEMBER 31, 2024 APPROXIMATED $556,000. THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE CEO, ROBERT BAVA, THE CHRO, DONNA SIEJUTT, AND THE CFO, KELLI WISNER-FRANK, THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. ROBERT BAVA CEO COLLATERAL ASSET SPLIT DOLLAR PLAN X 9350000 11332462 0 1 1 DONNA SIEJUTT CHRO COLLATERAL ASSET SPLIT DOLLAR PLAN X 1675000 1800205 0 1 1 KELLI WISNER-FRANK CFO COLLATERAL ASSET SPLIT DOLLAR PLAN X 1476800 1556575 0 1 1 14689242 CHRISTOPHER FRANK OWNER OF LEGAL SENTINEL/ SPOUSE OF CFO KELLI WISNER-FRANK 240126 CCCU OWN SHARES IN THE COMPANY WHICH IS 45% OWNED BY CHRIS FRANK, THE HUSBAND OF CFO, KELLIWISNER-FRANK. THE BALANCE OF THE CREDIT UNION'S INVESTMENT IN LEGAL SENTINEL AS OF 12/31/2024 WAS 240,126. 1 THOMAS COOK DIRECTOR/PREVIOUS OWNER OF TEAM FACILITIES 132033 THOMAS COOK OWNED A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). COMMUNITY CHOICE CREDIT UNION OWNS 33.3% OF TEAM FACILITIES. TOM COOK, IS THE CEO OF THE COMPANY. THE BALANCE OF THE CREDIT UNION'S INVESTMENT IN TEAM FACILITIES AS OF 12/31/2024 WAS 132,033. 1 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO CERTAIN MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTERESTED PARTY. THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART III, LINE 2 WE UPGRADED MANY OF OUR ATMS (AUTOMATED TELLER MACHINES) TO ITMS (INTEGRATED TELLER MACHINES) DURING 2024, EXPANDING OUR SERVICE OFFERINGS AND HOURS, AND EVEN ADDING LIVE SUPPORT. WE UPGRADED COMMUNICATION SYSTEMS TO INCLUDE A MORE ROBUST ONLINE CHAT, VIDEO CALLS, AND CO-BROWSING. OUR CHOICE MAP PROGRAM CONTINUES TO GROW, INCLUDING 110 CERTIFIED FINANCIAL COUNSELORS, TO ENGAGE AND GUIDE MORE OF OUR MEMBERS ALONG THEIR JOURNEY TO FINANCIAL SUCCESS. WE ALSO REDESIGNED OUR WEBSITE AND LAUNCHED A NEW LOAN PRODUCT TO HELP WITH FINANCING HOME IMPROVEMENT PROJECTS. FORM 990, PART III, LINE 3 SINCE 2013, WE HAVE AWARDED OVER $31 MILLION TO OUR MEMBERS AS PART OF OUR GIVE BIG REWARDS PROGRAM. IN 2025, WE WILL BE DISCONTINUING THE CURRENT PROGRAM AND WILL ENDEAVOR TO ROLL OUT A MORE ENGAGING REWARDS PROGRAM IN THE FUTURE. FORM 990, PART VI, SECTION A, LINE 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER OF THE CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER IS GIVEN ONE VOTE AND IS ABLE TO VOTE FOR THE GOVERNING BODY AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MAJOR DECISIONS MADE BY THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS, STOCKHOLDERS, OR OTHER PERSONS; HOWEVER, DAY TO DAY DECISIONS ARE NOT SUBJECT TO APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF FORM 990 WILL NOT BE PROVIDED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH MEMBER OF THE BOARD OF DIRECTORS, MANAGEMENT, AND TEAM MEMBERS MUST BE TRAINED, REVIEW, AND SIGN OFF ON A CONFLICT OF INTEREST STATEMENT LISTING ANY POTENTIAL CONFLICTS. IF A POTENTIAL CONFLICT IS LISTED OR FOUND, EACH IS REVIEWED ON A CASE BY CASE BASIS. ANY CONFLICTS THAT ARE FOUND ARE DEALT WITH IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES A THIRD PARTY VENDOR, D HILTON, TO ASSESS AND EVALUATE EVERY POSITION IN THE ORGANIZATION WHICH HELPS THE ORGANIZATION DEVELOP AND MAINTAIN COMPETITIVE PAY RATES AND IMPROVE EMPLOYEE PERFORMANCE. 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 FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE ALSO POSTED IN THE BRANCH OFFICES EACH MONTH. FORM 990, PART IX, LINE 24E HOME BANKING 1,805,739. ATM EXPENSES 1,453,018. TRAINING/DEVELOPMENT/EDUCATION 502,301. MISCELLANEOUS EXPENSE 482,549. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME/(LOSS) RELATIVE TO THE DEFINED BENEFIT PLAN 91,917. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IV, LINE 28C: ROBERT BAVA IS ON THE BOARD OF DIRECTORS OF THE FOLLOWING ORGANIZATIONS: MEMBER DRIVEN TECHNOLOGIES MICHIGAN TRUSTED TITLE AGENCY AUTOBOOKS CU REALTY INVESTORS ONE LLC THE CREDIT UNION HAS SHARES IN LEGAL SENTINEL, LLC. THE CU OWNS 15% OF THE COMPANY, CHRISTOPHER FRANK, THE HUSBAND OF CFO KELLI WISNER-FRANK, OWNS 45%, AND OTHER INVESTORS OWN THE REMAINING 40%. THE COMPANY OFFERS PREPAID LEGAL SERVICES. KELLI WISNER-FRANK IS ON THE BOARD OF DIRECTORS FOR THE FOLLOWING ORGANIZATIONS: COMMERCIAL ALLIANCE MEMBER FIRST MORGAGE CREDIT UNION TRUST DANIEL MUNRO IS ON THE BOARD OF DIRECTOS FOR THE FOLLOWING ORGANIZATIONS: TRU TREASURY LEGAL SENTINEL CU REALTY INVESTORS ONE LLC DONNA SIEJUTT IS ON THE BOARD OF DIRECTORS FOR COMPLY-YES! AND NICKELS. TERESA MAYER IS ON THE BOARD OF DIRECTORS FOR SERVISTAR. JENNIFER HURREN IS ON THE BOARD OF DIRECTORS FOR CURQL. THOMAS COOK OWNED A FACILITIES COMPANY THAT HANDLES ALL OF THE CREDIT UNION FACILITY NEEDS FOR ALL LOCATIONS (LAWN SERVICE, OFFICE CLEANING, HEATING/COOLING, ETC.). DURING 2023, MR. COOK SOLD HIS COMPANY TO THREE CREDIT UNIONS. COMMUNITY CHOICE CREDIT UNION PURCHASED 33.3% OF TEAM FACILITIES. TOM COOK, IS NOW THE CEO OF THE COMPANY. THE BALANCE OF THE CREDIT UNION'S INVESTMENT IN TEAM FACILITIES AS OF 12/31/2024 WAS 132,033. 3099 BIDDLE LLC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 823577624 PROPERTY MANAGEMENT MI 445800 6136667 COMMUNITY CHOICE CREDIT UNION 20778 13 MILE RD ROSEVILLE LLC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 844641854 PROPERTY MANAGEMENT MI 191282 3333462 COMMUNITY CHOICE CREDIT UNION 5180 HARVEY STREET LLC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 882177519 PROPERTY MANAGEMENT MI 77400 4315293 COMMUNITY CHOICE CREDIT UNION COMMUNITY CHOICE FOUNDATION INC 31155 NORTHWESTERN HIGHWAY FARMINGTON HILLS MI 48334 263891535 PUBLIC CHARITY MI 501(C)(3) 7 COMMUNITY CHOICE CREDIT UNION 1 TEAM FACILITIES LLC 1146 E BIG BEAVER RD TROY MI 48083 932575714 FACILITY MAINTENANCE MI N/A RELATED -41985 45797 0 0 0.33330 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 COMMUNITY CHOICE FOUNDATION L 113343 ESTIMATE COMMUNITY CHOICE FOUNDATION O 122037 ESTIMATE