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Nonprofit · EIN 38-1602298

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

Also known as 508 TBA CREDIT UNION

Tax-exempt · TRAVERSE CITY, MI 49686

Financials

$17.8M$12.5M2023$20.8M$16.2M2024
Revenue Expenses · by fiscal year end
Financials of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$20,758,463$16,169,434$4,589,029$368,914,484$317,706,705$51,207,779
December 31, 2023990$17,795,248$12,527,027$5,268,221$346,552,080$299,684,699$46,867,381
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$18,593,980
Investment income
$2,110,668
Net rental income
$53,815
Net gain from sales of assets
$13,603
Other revenue
$53,815

Expenses

Grants and similar amounts paid
$17,905
Compensation of officers, directors and key employees
$1,597,520
Other salaries and wages
$3,752,269
Salaries, compensation and benefits (total)
$6,314,910
Professional fundraising fees
$0
Legal fees
$17,198
Occupancy
$431,532
Travel
$135,179
Depreciation
$319,101

Balance sheet and other

Total assets, start of year
$346,552,080
Total assets, end of year
$368,914,484
Total liabilities, end of year
$317,706,705
Net assets, end of year
$51,207,779
Land, buildings and equipment
$9,987,505
Publicly traded securities
$30,286,253
Gross unrelated business income
$51,574
Gross receipts
$25,216,473
Employees
88
Volunteers
7
Year formed
1955
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.

NameTitleHours / weekCompensationOther / benefits
KAREN BROWNECEO
Officer
40$348,838$129,349
CHRISTOPHER MILLIRONVice President
Officer
40$157,881$66,064
STACYANN SMITHCFO
Officer
40$147,783$62,994
MEGHAN CHENOWETHVice President
Officer
40$136,776$43,492
MING MAYSDirector
Officer
40$162,447$17,756
ABBY SMITHDirector
Officer
40$116,889$52,505
CARRIE EPPINGERDirector
Officer
40$134,215$20,531
ADAM BEVIERDirector
Trustee or director
1$0$0
DAN BRADYDirector
Trustee or director
1$0$0
KATHLEEN DOUGLASSecretary
Trustee or director
1$0$0
KYLE ATTWOODDirector
Trustee or director
1$0$0
DAVE SEMANChairman
Trustee or director
1$0$0
JESSICA YOUNGDirector
Trustee or director
1$0$0
KATHERING WALKER-TELMATreasurer
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensationOther / benefits
KAREN BROWNECEO
Officer
40$306,282$116,852
STACYANN SMITHCFO
Officer
40$143,908$49,013
CHRISTOPHER MILLIRONVice President
Officer
40$139,375$53,364
MEGHAN CHENOWETHVice President
Officer
40$130,070$29,698
MING MAYSDirector
Officer
40$114,502$43,182
ABBY SMITHDirector
Officer
40$108,018$40,146
ADAM BEVIERDirector
Trustee or director
1$0$0
DAN BRADYDirector
Trustee or director
1$0$0
KATHLEEN DOUGLASSecretary
Trustee or director
1$0$0
KYLE ATTWOODDirector
Trustee or director
1$0$0
DAVE SEMANChairman
Trustee or director
1$0$0
JESSICA YOUNGDirector
Trustee or director
1$0$0
KATHERING WALKER-TELMATreasurer
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
630 E FRONT ST, TRAVERSE CITY, MI 49686-2618
In care of
% LINDA COTTER
Mailing address (990-N for 2014)
6540 S Betsie River Rd, Interlochen MI 49643
Principal officer (990 for 2024)
KAREN BROWNE, 630 EAST FRONT STREET, TRAVERSE CITY, MI 49686
Principal officer (990-N for 2014)
Susan Schmidt, 535 W 7th Street, Traverse City MI 49684
Signed the 990
KAREN BROWNE, CEO
Phone
(231) 946-7090
Return prepared by
FINANCIAL STANDARDS GROUP INC

Mission

TO SERVE THE COMMUNITY AND BUILD TRUSTED RELATIONSHIP

990 for the year ended December 31, 2024

Program accomplishments

  • THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING, CERTIFICATES AND OTHER. THE TOTAL NUMBER OF MEMBERS AT 12/31/2024 WAS 19,177.
  • THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS INCLUDING REAL ESTATE, CREDIT CARD, VEHICLE AND OTHER. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2024 WAS 13,449.
  • OFFER AUTOMATED TELLER MACHINES, DEBIT CARDS, MONEY ORDERS, SAFE DEPOSIT BOXES, BILL PAYMENT, TRAVELERS CHECKS, DIGITAL WALLET-APPLE, GOOGLE PAY, SAMSUNG PAY AND VARIOUS INSURANCE PROGRAMS.

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, 2026Check at the IRS
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
38-1602298
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
Assets (IRS master file)
$378,003,499
Income (IRS master file)
$24,039,921

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$20,758,463$16,169,434$368,914,484IRS
990December 2023$17,795,248$12,527,027$346,552,080XML
990December 2022$12,556,006$9,525,692$344,647,354IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990-N for 2014
Officer: Susan Schmidt
December 31, 2014≤ $50,000 receipts––e-Postcard

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 38-1602298).

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 38-1602298.
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 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 KAREN BROWNE.
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 14 people; 7 received compensation from the organization, the highest $348,838 (KAREN BROWNE, 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 $20,758,463, expenses of $16,169,434 and total assets of $368,914,484 at year end.

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