Nonprofit · EIN 38-1447620
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as ORSA CREDIT UNION
Tax-exempt · PLYMOUTH, MI 48170
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $106,672,065 | $106,128,097 | $543,968 | $1,579,342,761 | $1,429,747,897 | $149,594,864 |
| December 31, 2023 | 990 | $99,983,788 | $96,013,609 | $3,970,179 | $1,594,945,276 | $1,445,878,056 | $149,067,220 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $102,292,638
- Investment income
- $4,379,427
- Net gain from sales of assets
- $495,308
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $811,740
- Benefits paid to members
- $31,872,170
- Compensation of officers, directors and key employees
- $3,342,102
- Other salaries and wages
- $25,134,861
- Salaries, compensation and benefits (total)
- $34,244,665
- Professional fundraising fees
- $0
- Legal fees
- $392,075
- Accounting fees
- $238,917
- Occupancy
- $1,572,941
- Travel
- $812,123
- Depreciation
- $2,198,285
Balance sheet and other
- Total assets, start of year
- $1,594,945,276
- Total assets, end of year
- $1,579,342,761
- Total liabilities, end of year
- $1,429,747,897
- Net assets, end of year
- $149,594,864
- Land, buildings and equipment
- $36,959,558
- Gross unrelated business income
- $76,044
- Gross receipts
- $131,929,805
- Employees
- 431
- Volunteers
- 15
- Year formed
- 2012
- State of legal domicile
- MI
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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TANSLEY STEARNS | PRESIDENT/CEO Officer | 40 | $583,005 | $38,880 |
| JILL JOHNSON | CHIEF REVENUE AND LENDING (THRU 05.31.24) Officer | 40 | $473,109 | $49,651 |
| ART BEARD | CHIEF IT OFFICER Officer | 40 | $354,288 | $63,888 |
| CATHY MEYERS | CHIEF PEOPLE OFFICER Officer | 40 | $325,377 | $89,094 |
| CHRIS CURRY | SVP OPERATIONS AND RISK Highest-paid employee | 40 | $304,837 | $68,462 |
| SCOTT CAMERON | CHIEF FINANCIAL OFFICER Officer | 40 | $337,912 | $34,826 |
| DANIELLE FRAWLEY | CHIEF GROWTH OFFICER Officer | 40 | $340,300 | $17,788 |
| DANIELLE MILNER | CHIEF EXPERIENCE OFFICER Officer | 40 | $295,863 | $36,768 |
| ELRY ARMAZA | CHIEF OF STAFF Officer | 40 | $297,567 | $3,786 |
| TOM VARGO | AVP CORE OPERATIONS Highest-paid employee | 40 | $194,378 | $33,899 |
| MIKE ERFOURTH | VP BUSINESS EXPERIENCE Highest-paid employee | 40 | $200,650 | $16,531 |
| JAMES POTTER | INVESTMENT REPRESENTATIVE Highest-paid employee | 40 | $199,606 | $15,398 |
| LISA MULLEN | SENIOR GENERAL COUNSEL Highest-paid employee | 40 | $179,333 | $29,434 |
| TERI KUEHN | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| DAN HERRIMAN | VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HEIDI MUSSER | VICE-CHAIR Trustee or director, Officer | 1 | $0 |
| YASIR KHOGALI | TREASURER & SECRETARY Trustee or director, Officer | 1 | $0 |
| PAUL BEDICH | DIRECTOR Trustee or director | 1 | $0 |
| DENNIS LAVOY | DIRECTOR Trustee or director | 1 | $0 |
| NED STAEBLER | DIRECTOR Trustee or director | 1 | $0 |
| JOHNNIE TURNAGE | DIRECTOR Trustee or director | 1 | $0 |
| ANGELA PEAT | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TANSLEY STEARNS | CEO Officer | 40 | $570,686 | $28,230 |
| TOMMY GASSO | VP COMMERCIAL LENDING (THROUGH 9/30/23) Highest-paid employee | 40 | $562,645 | $11,638 |
| ART BEARD | CHIEF INFORMATION AND DIGITAL OFFICER Officer | 40 | $410,381 | $74,645 |
| JILL JOHNSON | CHIEF REVENUE AND LENDING OFFICER Officer | 40 | $390,136 | $87,173 |
| SCOTT CAMERON | EVP/CFO Officer | 40 | $376,943 | $86,731 |
| CHRIS CURRY | SVP OF OPERATIONS AND RISK Officer | 40 | $358,191 | $91,885 |
| CATHY MEYERS | CHIEF PEOPLE OFFICER Officer | 40 | $372,470 | $76,810 |
| DANIELLE MILNER | CHIEF EXPERIENCE OFFICER Officer | 40 | $304,084 | $20,029 |
| ELRY ARMAZA | CHIEF OF STAFF Officer | 40 | $306,142 | $3,750 |
| DAVID HEFFNER | SVP Lending Highest-paid employee | 40 | $220,808 | $19,359 |
| JAMES POTTER | INVESTMENT REPRESENTATIVE Highest-paid employee | 40 | $228,506 | $10,362 |
| Thomas Vargo | AVP of Core Systems & Development Highest-paid employee | 40 | $217,306 | $21,087 |
| ERIC ESSER | Former OFFICER Former | 40 | $230,615 | $0 |
| MICHAEL ERFOURTH | VP BUSINESS EXPERIENCE Highest-paid employee | 40 | $221,337 | $274 |
| DANIELLE FRAWLEY | CHIEF GROWTH OFFICER Officer | 40 | $206,265 | $14,127 |
| DENNIS LAVOY | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| MARK RIEGAL | 1st VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| PAUL BEDICH | 2ND VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| TERESA KUEHN | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| DAN HERRIMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DEBORAH STARINSKY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DON BAIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| Kathy Neirynk | Board Member (partial year) Trustee or director | 1 | $0 | $0 |
| PATRICIA REESE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| Ron Meteyer | Board Member (partial year) Trustee or director | 1 | $0 | $0 |
| YASIR KHOGALI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 500 S HARVEY ST, PLYMOUTH, MI 48170-1759
- Principal officer (990 for 2024)
- TANSLEY STEARNS, 500 S HARVEY ST, PLYMOUTH, MI 481708050
- Signed the 990
- SCOTT CAMERON, EVP/CFO
- Phone
- (734) 453-1200
- Website
- WWW.CFCU.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
COMMUNITY FINANCIAL CREDIT UNION IS A STATE CHARTERED, NOT-FOR-PROFIT, FULL-SERVICE FINANCIAL INSTITUTION OWNED AND GOVERNED BY ITS MEMBERSHIP. AT COMMUNITY FINANCIAL, WE ARE COMMITTED TO OUR MEMBERS AND OUR COMMUNITIES,FOR OVER 70 YEARS. WE'VE PROVIDED OUR MICHIGAN MEMBERS COMPETITIVELY PRICED SAVINGS AND LOAN PRODUCTS, OUTSTANDING SERVICE AND SUPPORT TO THEIR NEIGHBORS.
Program accomplishments
- PROMOTE THRIFT TO 83,996 MEMBERS BY OFFERING COMPETITIVELY-PRICED SAVINGS & LOANS PRODUCTS AS WELL AS OTHER FINANCIAL PRODUCTS.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-1447620
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1956
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1359: CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- Assets (IRS master file)
- $1,579,342,761
- Income (IRS master file)
- $131,929,805
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $106,672,065 | $106,128,097 | $1,579,342,761 | XML |
| 990 | December 2023 | $99,983,788 | $96,013,609 | $1,594,945,276 | XML |
| 990 | December 2022 | $68,299,039 | $58,544,558 | $1,531,731,546 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 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 38-1447620).
Questions about CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- What is the EIN of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The employer identification number (EIN) of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN is 38-1447620.
- Is CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1956.
- Are donations to CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 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 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 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 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 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 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 names TANSLEY STEARNS.
- Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2024 lists 22 people; 13 received compensation from the organization, the highest $583,005 (TANSLEY STEARNS, PRESIDENT/CEO).
- How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $106,672,065, expenses of $106,128,097 and total assets of $1,579,342,761 at year end.
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