Nonprofit · EIN 38-2323689
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 1185 AMERICAN 1 CREDIT UNION
Tax-exempt · JACKSON, MI 49201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $66,378,767 | $61,060,731 | $5,318,036 | $660,897,035 | $563,267,215 | $97,629,820 |
| December 31, 2023 | 990 | $57,257,513 | $48,356,843 | $8,900,670 | $683,624,165 | $591,312,381 | $92,311,784 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $56,745,413
- Investment income
- $9,633,354
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $19,500
- Compensation of officers, directors and key employees
- $1,500,884
- Other salaries and wages
- $15,893,067
- Salaries, compensation and benefits (total)
- $22,733,668
- Professional fundraising fees
- $0
- Legal fees
- $94,730
- Accounting fees
- $68,732
- Occupancy
- $1,218,487
- Travel
- $116,996
- Depreciation
- $1,245,143
Balance sheet and other
- Total assets, start of year
- $683,624,165
- Total assets, end of year
- $660,897,035
- Total liabilities, end of year
- $563,267,215
- Net assets, end of year
- $97,629,820
- Land, buildings and equipment
- $24,355,769
- Gross unrelated business income
- $21,750
- Gross receipts
- $66,378,767
- Employees
- 363
- Volunteers
- 7
- Year formed
- 1980
- 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 |
|---|---|---|---|---|
| MARTHA FUERSTENAU | PRESIDENT/CEO Officer | 40 | $861,295 | $99,617 |
| KRISTINA EDGAR | EXECUTIVE VICE PRESIDENT/COO Key employee | 40 | $256,308 | $26,938 |
| SARAH MILLER | CHIEF FINANCIAL OFFICER Officer | 40 | $224,463 | $32,268 |
| CAROLYN DUNCAN | CHIEF MEMBER EXPERIENCE OFFICER Highest-paid employee | 40 | $197,059 | $21,384 |
| NICOLE PATRICK | VP OF INFORMATION SECURITY & TECHNOLOGY Highest-paid employee | 40 | $160,701 | $26,135 |
| KELEIGH BALLINGER | VP OF BRANCH OPERATIONS Highest-paid employee | 40 | $131,427 | $32,186 |
| KELLY GRYGIEL | VP OF COMMUNICATIONS Highest-paid employee | 40 | $137,432 | $23,779 |
| TONIA WHITE | CHIEF EXPERIENCE OFFICER Highest-paid employee | 40 | $124,170 | $25,919 |
| DAVID PUCKETT | FORMER PRESIDENT/CEO Former | – | $147,796 | $0 |
| ANGELLA ARNOLD | BOARD SECRETARY Trustee or director | 2 | $0 | $0 |
| CHERL SCHANTZ | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| FRANCIS WEATHERS | BOARD VICE-CHAIR Trustee or director | 2 | $0 | $0 |
| JULIE ALEXANDER | BOARD TREASURER Trustee or director | 2 | $0 | $0 |
| LINDA SCHAUB | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| PHILIP HOFFMAN | BOARD CHAIR Trustee or director | 2 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIMOTHY HERNANDEZ | BOARD MEMBER Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARTHA FUERSTENAU | PRESIDENT/CEO Officer | 40 | $787,587 | $72,908 |
| KRISTINA EDGAR | EVP/COO Key employee | 40 | $240,910 | $23,486 |
| SARAH MILLER | CFO Officer | 40 | $209,371 | $20,362 |
| CAROLYN DUNCAN | CMXO Highest-paid employee | 40 | $183,037 | $21,675 |
| DAVID PUCKETT | FORMER PRESIDENT/CEO Former | 1 | $199,378 | $0 |
| NICOLE PATRICK | VP OF RISK & IT Highest-paid employee | 40 | $151,867 | $27,041 |
| TONIA WHITE | CEXO Highest-paid employee | 40 | $159,106 | $19,308 |
| KELLY GRYGIEL | VP OF COMMUNICATIONS Highest-paid employee | 40 | $122,716 | $12,033 |
| WILLIAM KEATHLEY | CORE SYSTEM ADMINISTRATOR II Highest-paid employee | 40 | $117,442 | $13,903 |
| ANGELLA ARNOLD | BOARD SECRETARY Trustee or director | 2 | $0 | $0 |
| CHERYL SCHANTZ | BOARD DIRECTOR Trustee or director | 2 | $0 | $0 |
| FRANK WEATHERS | BOARD VICE CHAIR Trustee or director | 2 | $0 | $0 |
| JULIE ALEXANDER | BOARD TREASURER Trustee or director | 2 | $0 | $0 |
| LINDA SCHAUB | BOARD DIRECTOR Trustee or director | 2 | $0 | $0 |
| PHILIP HOFFMAN | BOARD CHAIR Trustee or director | 2 | $0 | $0 |
| TIMOTHY HERNANDEZ | BOARD DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 718 E MICHIGAN AVE, JACKSON, MI 49201-1626
- In care of
- % SARAH MILLER
- Principal officer (990 for 2024)
- MARTHA FUERSTENAU, 718 EAST MICHIGAN AVENUE, JACKSON, MI 49201
- Signed the 990
- MARTHA FUERSTENAU, PRESIDENT/CEO
- Phone
- (517) 787-6510
- Website
- WWW.AMERICAN1CU.ORG
- Return prepared by
- Forvis Mazars LLP
Mission
THE MISSION OF AMERICAN 1 CREDIT UNION IS TO CREATE FINANCIAL WELLNESS IN OUR COMMUNITIES THROUGH PERSONAL EVERYDAY BANKING.
Program accomplishments
- THE CREDIT UNION PROVIDES 66,198 MEMBERS WITH REGULAR SHARES, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, BUSINESS, HEALTH SAVINGS AND MONEY MARKET ACCOUNTS.
- THE CREDIT UNION PROVIDES LOANS INCLUDING CREDIT CARDS, UNSECURED, LINE OF CREDIT, VEHICLE, OVERDRAFT, MORTGAGE AND HOME EQUITY LOANS.THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2024 WAS 54,888.
- THE CREDIT UNION OFFERS DEBIT CARDS, CHECK CASHING, WIRE TRANSFERS, MONEY ORDERS, NO SURCHARGE ATMS, INSURANCE AND INVESTMENT SALES, BILL PAYER, STUDENT SCHOLARSHIPS, FINANCIAL COUNSELING AND COURTES PAY TO ALL ELIGIBLE MEMBERS.
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
- 38-2323689
- 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)
- $660,897,035
- Income (IRS master file)
- $66,378,767
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $66,378,767 | $61,060,731 | $660,897,035 | XML |
| 990 | December 2023 | $57,257,513 | $48,356,843 | $683,624,165 | XML |
| 990 | December 2022 | $45,719,796 | $36,422,705 | $586,031,148 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 38-2323689).
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 38-2323689.
- 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 MARTHA FUERSTENAU.
- 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 16 people; 9 received compensation from the organization, the highest $861,295 (MARTHA FUERSTENAU, 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 $66,378,767, expenses of $61,060,731 and total assets of $660,897,035 at year end.
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- CONSUMERS ENERGY FOUNDATION EIN 38-2935534 · last filed 990-PF for 2024
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