Frankenmuth Credit Union
Legal name: Credit Unions Chartered in the State of Michigan Frankenmuth Credit Union
Nonprofit profile at a glance
- EIN
- 381796409
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Frankenmuth, MI, USA
- Phone
- (989) 652-8300
- Rating confidence
- Limited
Reported finances
- Revenue
- $103,161,140
- Expenses
- $91,173,483
- Assets
- $1,417,197,837
- Liabilities
- $1,280,272,214
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- VICKIE SCHMITZER (CEO)
- ERIC NEUMEYER (CEO OF MMIA)
Highest reported compensation
- VICKIE SCHMITZER (CEO): $928,640 total reported compensation
- ROBERT ROBINSON (INSURANCE SALES): $370,554 total reported compensation
- DONNA HAUBENSTRICKER (VP OF FINANCE): $292,914 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide safe, convenient, cost effective services for the financial well-being of the credit union and its members. And to grow trusted relationships by providing personalized financial solutions.
What it reported doing in 2024
Offer automated teller machines, interactive teller machines, debit cards, credit cards, shared branching, money orders, courtesy pay, wire transfers, bill pay, investments services and various insurance programs to all eligible members.
Operating model
- Revenue model
- Earned-program. 93% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 64
- Accountability: 95
- Sustainability: 69
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 22.4%; rating input score 22; 7th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 11.6%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 15.54; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0.9; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 13.5% per year; rating input score 100; 86th percentile among comparable filings
- Asset growth: 13.9% per year; rating input score 100; 84th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $929K · 17 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $5.2M reported
- Consistency: 10 of 11 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 14 filed money-flow records
- Related organizations: 7 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Transparency & Controls: Grant itemization coverage scored 22/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 12/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.