Great Lakes Credit Union

Nonprofit profile at a glance

EIN
361163912
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2023
Location
Bannockburn, IL, USA
Phone
800.982.7850
Rating confidence
Limited

Official website

Reported finances

Revenue
$80,666,017
Expenses
$83,814,042
Assets
$1,481,537,874
Liabilities
$1,385,759,569

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • STEVEN BUGG (PRESIDENT/CEO)
  • DONNA WIOREK (SENIOR VICE PRESIDENT - AC)

Highest reported compensation

  • STEVEN BUGG (PRESIDENT/CEO): $735,702 total reported compensation
  • TIMOTHY LUKOMSKI (CHIEF FINANCIAL OFFICER): $363,907 total reported compensation
  • MICHAEL HERSH (CHIEF ADMINISTRATIVE OFFICER): $323,071 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Banking for a greater good. We are committed to empowering our members and investing in the communities we serve.

What it reported doing in 2024

Atm debit cards are available to members who apply for electronic access to their accounts for deposit and withdrawal of funds and account information. Various types of checking accounts are offered to members, some with no monthly service fee.

Operating model

Revenue model
Earned-program. 81% 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: 96
  • Accountability: 100
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.9%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 17.68; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.9% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 56th percentile among comparable filings

Details

  • What they do: 7 operating locations identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $736K · 22 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 5 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.

  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.