Nonprofit · EIN 38-1555453
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 387 SOUTH CENTRAL CREDIT UNION
Tax-exempt · JACKSON, MI 49202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $4,603,012 | $4,421,454 | $181,558 | $84,839,917 | $72,894,226 | $11,945,691 |
| December 31, 2024 | 990 | $4,637,259 | $4,038,433 | $598,826 | $83,552,389 | $71,788,256 | $11,764,133 |
| December 31, 2023 | 990 | $4,629,262 | $4,318,589 | $310,673 | $84,205,920 | $73,040,697 | $11,165,223 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,136,332
- Investment income
- $1,466,680
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $323,930
- Other salaries and wages
- $755,765
- Salaries, compensation and benefits (total)
- $1,508,096
- Professional fundraising fees
- $0
- Legal fees
- $42,256
- Accounting fees
- $58,867
- Occupancy
- $112,150
- Travel
- $14,170
- Depreciation
- $238,400
Balance sheet and other
- Total assets, start of year
- $83,552,389
- Total assets, end of year
- $84,839,917
- Total liabilities, end of year
- $72,894,226
- Net assets, end of year
- $11,945,691
- Land, buildings and equipment
- $3,571,816
- Gross receipts
- $4,603,012
- Employees
- 26
- Volunteers
- 6
- Year formed
- 1954
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Terri Papiersky | CEO - Retired 11/3/2025 Key employee, Highest-paid employee, Former | 40 | $196,631 | $32,600 |
| Eric Samon | CEO as of 11/03/2025 Key employee | 40 | $127,289 | $15,700 |
| Harold White | Vice - Chair Trustee or director | 1 | $0 | $0 |
| Steven Makulski | Board Secretary Trustee or director | 1 | $0 | $0 |
| Donald Ray | Treasurer Trustee or director | 1 | $0 | $0 |
| Judith Landau | Board Chair Trustee or director | 1 | $0 | $0 |
| Carolyn Moser | Board Member Trustee or director | 1 | $0 | $0 |
| Steven Barrons | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Terri Papiersky | CEO Key employee, Highest-paid employee | 40 | $182,178 | $27,904 |
| Eric Samon | Executive Vice President Key employee | 40 | $115,410 | $7,881 |
| Harold White | Vice - Chair Trustee or director | 1 | $0 | $0 |
| Steven Makulski | Board Member Trustee or director | 1 | $0 | $0 |
| Donald Ray | Treasurer Trustee or director | 1 | $0 | $0 |
| Judith Landau | Secretary Trustee or director | 1 | $0 | $0 |
| Karen Coffman | Board Chair Trustee or director | 1 | $0 | $0 |
| Steven Barrons | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Terri Papiersky | CEO Key employee, Highest-paid employee | 40 | $182,584 | $30,668 |
| Eric Samon | Executive Vice President Key employee | 40 | $106,712 | $15,555 |
| Harold White | Vice - Chair Trustee or director | 1 | $0 | $0 |
| Steven Makulski | Board Member Trustee or director | 1 | $0 | $0 |
| Donald Ray | Treasurer Trustee or director | 1 | $0 | $0 |
| Judith Landau | Secretary Trustee or director | 1 | $0 | $0 |
| Karen Coffman | Board Chair Trustee or director | 1 | $0 | $0 |
| Steven Barrons | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 958 W MONROE ST, JACKSON, MI 49202-2036
- Principal officer (990 for 2025)
- Eric Samon, 958 W Monroe St, Jackson, MI 49202
- Signed the 990
- Eric Samon, CEO
- Phone
- (517) 787-2220
- Website
- Southcentralcu.org
Mission
We are a credit union owned by 6,802 members. We provide financial services and products to those members.
Program accomplishments
- The Credit Union provides several deposit types to members including savings, checking, certificates and other. The total number of members at 12/31/19 was 8,159
- The credit union provides a variety of loans to members including real estate, credit card and other. The total number of loans outstanding at 12/31/19 was 4,425.
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 | 990 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
- 38-1555453
- 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)
- $84,839,917
- Income (IRS master file)
- $4,603,012
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $4,603,012 | $4,421,454 | $84,839,917 | IRS |
| 990 | December 2024 | $4,637,259 | $4,038,433 | $83,552,389 | IRS |
| 990 | December 2023 | $4,629,262 | $4,318,589 | $84,205,920 | XML |
| 990 | December 2022 | $3,388,000 | $2,988,378 | $94,285,461 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 38-1555453).
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 38-1555453.
- 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 2026 (the year ending December 31, 2026) is due May 17, 2027. 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 2025.
- Who is the principal officer of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 names Eric Samon.
- Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 lists 8 people; 2 received compensation from the organization, the highest $196,631 (Terri Papiersky, CEO - Retired 11/3/2025).
- How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $4,603,012, expenses of $4,421,454 and total assets of $84,839,917 at year end.
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