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Nonprofit · EIN 36-1163912

GREAT LAKES CREDIT UNION

Tax-exempt · BANNOCKBURN, IL 60015

Financials

$64.8M$62.1M2023$80.7M$83.8M2024
Revenue Expenses · by fiscal year end
Financials of GREAT LAKES CREDIT UNION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$80,666,017$83,814,042-$3,148,025$1,481,537,874$1,385,759,569$95,778,305
December 31, 2023990$64,760,572$62,052,965$2,707,607$1,313,509,604$1,221,676,485$91,833,119
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$346,088
of which government grants
$330,188
Program service revenue
$65,112,284
Investment income
$15,154,059
Net gain from sales of assets
$550,423
Other revenue
$53,586

Expenses

Grants and similar amounts paid
$53,568
Compensation of officers, directors and key employees
$2,478,622
Other salaries and wages
$17,141,304
Salaries, compensation and benefits (total)
$23,513,782
Professional fundraising fees
$0
Legal fees
$361,828
Accounting fees
$214,428
Occupancy
$1,932,125
Depreciation
$1,954,658

Balance sheet and other

Total assets, start of year
$1,313,509,604
Total assets, end of year
$1,481,537,874
Total liabilities, end of year
$1,385,759,569
Net assets, end of year
$95,778,305
Land, buildings and equipment
$24,253,158
Publicly traded securities
$129,421,381
Gross unrelated business income
$354,558
Gross receipts
$111,684,751
Employees
290
Volunteers
10
Year formed
1938
State of legal domicile
IL

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, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
STEVEN BUGGPRESIDENT/CEO
Officer
40$685,247$50,455
TIMOTHY LUKOMSKICHIEF FINANCIAL OFFICER
Officer
40$313,735$50,172
MICHAEL HERSHCHIEF ADMINISTRATIVE OFFICER
Officer
40$276,900$46,171
PATRICK BASLERCHIEF EXPERIENCE OFFICER
Officer
40$260,853$50,395
FRED CAMPOBASSOCHIEF LENDING OFFICER
Officer
40$272,089$31,795
ELIZABETH OSBORNECHIEF OPERATIONS OFFICER
Officer
40$259,885$40,428
DONNA WIOREKSENIOR VICE PRESIDENT - AC
Highest-paid employee
40$233,645$11,734
BRIAN GAWINVP COMMERCIAL LENDING
Highest-paid employee
40$196,712$33,885
DIANA BYERSSVP ENTERPRISE RISK MANAGE
Highest-paid employee
40$210,981$19,127
PREDRAG GRMUSAVP OF HUMAN RESOURCES & OR
Highest-paid employee
40$153,202$43,621
DION ROSECRANSMANAGER IT
Highest-paid employee
40$146,577$21,843
MICHAEL ABRAHAMCHIEF STRATEGY OFFICER
Officer
40$130,812$9,685
STEPHEN M PARKDIRECTOR
Trustee or director
7$0$0
PATRICE PRICEBOARD CHAIR
Trustee or director
7$0$0
JAMES A FABRIEDIRECTOR
Trustee or director
5$0$0
7 more people on this return
NameTitleHours / weekCompensation
JIM MARCHEMERITUS DIRECTOR
Trustee or director
5$0
R LEE PIEKARZBOARD TREASURER
Trustee or director
5$0
KEVIN LEMANBOARD VICE CHAIR
Trustee or director
5$0
DAVID GOLESDIRECTOR
Trustee or director
5$0
CATHY CORBIBOARD SECRETARY
Trustee or director
5$0
SARAH MARSHALLDIRECTOR
Trustee or director
5$0
WILLIAM HARLANDIRECTOR
Trustee or director
5$0
990 for the year ended December 31, 2023: 19 people
NameTitleHours / weekCompensationOther / benefits
STEVEN BUGGPRESIDENT/CEO
Officer
40$570,574$42,241
TIMOTHY LUKOMSKICHIEF FINANCIAL OFFICER
Officer
40$291,495$44,302
MICHAEL HERSHCHIEF ADMINISTRATIVE OFFICER
Officer
40$264,560$37,062
ELIZABETH OSBORNECHIEF OPERATIONS OFFICER
Officer
40$245,567$45,664
PATRICK BASLERCHIEF EXPERIENCE OFFICER
Officer
40$235,026$34,415
FRED CAMPOBASSOCHIEF LENDING OFFICER
Officer
40$247,900$20,488
DONNA WIOREKSENIOR VICE PRESIDENT - ACCOUNTING AND FINANCE
Highest-paid employee
40$216,693$15,225
DIANA BYERSSVP ENTERPRISE RISK MANAGEMENT
Highest-paid employee
40$196,820$18,751
PREDRAG GRMUSAVP OF HUMAN RESOURCES & ORGANIZATIONAL DEVELOPMENT
Highest-paid employee
40$147,369$28,274
DION ROSECRANSMANAGER IT
Highest-paid employee
40$140,621$6,948
STEPHEN M PARKBOARD CHAIR
Trustee or director
7$0$0
PATRICE PRICEBOARD VICE CHAIR
Trustee or director
7$0$0
JAMES A FABRIEBOARD TREASURER
Trustee or director
5$0$0
JIM MARCHBOARD SECRETARY
Trustee or director
5$0$0
R LEE PIEKARZDIRECTOR
Trustee or director
5$0$0
KEVIN LEMANDIRECTOR
Trustee or director
5$0$0
DAVID GOLESDIRECTOR
Trustee or director
5$0$0
CATHY CORBIDIRECTOR
Trustee or director
5$0$0
SARAH MARSHALLDIRECTOR
Trustee or director
5$0$0

Address and contacts

Address (IRS master file)
2111 WAUKEGAN RD, BANNOCKBURN, IL 60015-1830
In care of
% GREAT LAKES CREDIT UNION
Mailing address (990-N for 2023)
110 S Johnson St, Woodstock IL 60098
Principal officer (990 for 2024)
STEVEN BUGG, 2111 WAUKEGAN ROAD, BANNOCKBURN, IL 60015
Principal officer (990-N for 2023)
Christine Deeringer, 6604 Greenwood Rd, Wonder Lake IL 60097
Signed the 990
TIMOTHY LUKOMSKI, CHIEF FIANANCIAL OFFICER
Phone
(847) 578-7000
Return prepared by
DOEREN MAYHEW

Mission

TO OFFER PRODUCTS AND SERVICES FOR OUR MEMBERS TO ACHIEVE THEIR FINANCIAL GOALS. WE WILL BUILD VALUED RELATIONSHIPS, ONE MEMBER AT A TIME.

990 for the year ended December 31, 2024

Program accomplishments

  • LOANS ARE GRANTED TO INDIVIDUALS WHO ARE MEMBERS IN GOOD STANDING WITH THE CREDIT UNION AND WHO QUALIFY FOR SUCH LOANS. GLCU PROVIDES THE FOLLOWING TYPES OF LOANS: MORTGAGES, HELOC'S, AUTO, RV, UNSECURED, BOAT AND COMMERCIAL.
  • ATM DEBIT CARDS ARE AVAILABLE TO MEMBERS WHO APPLY FOR ELECTRONIC ACCESS TO THEIR ACCOUNTS FOR DEPOSIT AND WITHDRAWAL OF FUNDS AND ACCOUNT INFORMATION. VARIOUS TYPES OF CHECKING ACCOUNTS ARE OFFERED TO MEMBERS, SOME WITH NO MONTHLY SERVICE FEE.
  • VARIOUS INSURANCE PRODUCTS ARE OFFERED TO MEMBERS. TYPES OF PRODUCTS OFFERED INCLUDE CREDIT LIFE, CREDIT DISABILITY, MECHANICAL BREAKDOWN PROTECTION (MBP) AND FINANCIAL GAP PROTECTION.

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990-N on file

IRS record

EIN
36-1163912
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1944
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,481,537,874
Income (IRS master file)
$111,684,751

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$80,666,017$83,814,042$1,481,537,874XML
990-N for 2023
Officer: Christine Deeringer
December 31, 2023≤ $50,000 receipts––e-Postcard
990December 2023$64,760,572$62,052,965$1,313,509,604XML
990December 2022$54,056,794$44,878,605$1,341,546,042IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 36-1163912).

Questions about GREAT LAKES CREDIT UNION

What is the EIN of GREAT LAKES CREDIT UNION?
The employer identification number (EIN) of GREAT LAKES CREDIT UNION is 36-1163912.
Is GREAT LAKES CREDIT UNION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1944.
Are donations to GREAT LAKES CREDIT UNION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does GREAT LAKES CREDIT UNION 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 GREAT LAKES CREDIT UNION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GREAT LAKES CREDIT UNION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of GREAT LAKES CREDIT UNION?
The 990 for the year ended December 31, 2024 names STEVEN BUGG.
Who are the officers and directors of GREAT LAKES CREDIT UNION?
The 990 for the year ended December 31, 2024 lists 22 people; 12 received compensation from the organization, the highest $685,247 (STEVEN BUGG, PRESIDENT/CEO).
How much revenue does GREAT LAKES CREDIT UNION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $80,666,017, expenses of $83,814,042 and total assets of $1,481,537,874 at year end.

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