Credit Unions Chartered in the State of Michigan

Nonprofit profile at a glance

EIN
381627404
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-N 2016
Location
Royal Oak, MI, USA
Phone
2485493838
Rating
41
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$20,416,132
Expenses
$17,978,118
Assets
$360,322,983
Liabilities
$335,844,155

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DARREN CAMERON (PRESIDENT CEO)

Highest reported compensation

  • DARREN CAMERON (PRESIDENT CEO): $290,000 total reported compensation
  • TOM BARAN (CHIEF LENDING OFFICER): $175,000 total reported compensation
  • DAN MAIORANO (CHIEF FINANCIAL OFFICER): $175,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

As a member-owned financial cooperative we will uphold the highest standards in our relationships with members employees and the community. We will maintain earnings and reserves which promote sound growth and encourage member confidence.

What it reported doing in 2025

Promoted thrift to 23,626 members by offering loans deposits and other related financial products

Operating model

Revenue model
Other-operating. 81% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 82
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.9%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 20.04; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.4% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $290K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 44 of 44 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.