PFCU Credit Union
Legal name: Pfcu
Nonprofit profile at a glance
- EIN
- 381379433
- IRS 990 coverage
- 2018–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025, Form 990-N 2024
- Location
- Portland, MI, USA
- Phone
- (844) 517-3611
- Rating confidence
- Limited
Reported finances
- Revenue
- $51,984,339
- Expenses
- $44,478,353
- Assets
- $834,245,780
- Liabilities
- $741,188,517
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- MICHELE MAKLEY (CHIEF EXECUTIVE OFFICER)
- JOSEPH KRIEGER (EXECUTIVE VICE PRESIDENT)
- LAURA SORENSON (VICE PRESIDENT OF MARKETING)
Highest reported compensation
- MICHELE MAKLEY (CHIEF EXECUTIVE OFFICER): $632,511 total reported compensation
- TAMMY L BENGEL (CHIEF FINANCIAL OFFICER): $372,205 total reported compensation
- JOSEPH KRIEGER (EXECUTIVE VICE PRESIDENT): $315,051 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of pfcu is to deliver financial well-being to its members by providing comprehensive and progressive financial services at fair and reasonable rates and terms accompanied by first-rate service.
What it reported doing in 2025
At the end of december 2025, pfcu served 57,035 members with regular shares, club accounts, share drafts, certificates of deposit, money markets and individual retirement accounts. Pfcu total assets increased from $818.1 million as of december 31, 2024 to $834.2 million as of december 31, 2025.
Operating model
- Revenue model
- Earned-program. 85% 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: 60
- Accountability: 95
- Sustainability: 68
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 7th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- 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: 36.5%; rating input score 37; 10th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 65th 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: 14.4%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 18.76; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 5.1%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 11.9% per year; rating input score 100; 80th percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 8 of 8 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $633K · 15 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.7M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 8 filing years from 2018 to 2025
- Contacts: How to reach this organization
- Money network: 12 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Transparency & Controls: Grant itemization coverage scored 37/100.
- 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 10/100.
- High — Sustainability: Officer compensation ratio scored 20/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.