2023-08-09T09:27:33-05:00 2022-12-31 363321958 Desmond & Ahern Ltd 10827 S Western Avenue Chicago IL 60643 990 2022-01-01 360902923 Chicago Municipal Employees Credit Union CHIC 3122362326 18 S Michigan Avenue 1000 Chicago IL 60603 Peter Tzortzakis President and CEO 3122362326 2023-08-09 1 Peter Tzortzakis 999009999 0 Jason L Gierhahn P02385275 7737794720 2023-08-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Peter Tzortzakis 18 S Michigan Avenue 1000 Chicago IL 60603 3857215 0 X www.cmecuonline.org X Cooperative 1926 IL Illinois state chartered credit union operated for the mutual benefit of its members 8 8 22 9 0 0 0 0 3039843 3592493 210015 264722 0 0 3249858 3857215 0 0 0 0 788577 943819 0 0 0 2123856 2776531 2912433 3720350 337425 136865 62399832 57741757 56764565 51969625 5635267 5772132 To give members the ability to control their financial destiny by providing members with the means to satisfy their needs for financial services in a comfortable family-like environment. In doing so, the Credit Union strives to maintain long-term relationships with members. 0 0 Credit Union makes and services consumer and real estate loans to members. The number of loans outstanding at 12/31/22 was 1,942 for a total of $31,921,511. Credit Union pays dividends to its members on share deposit accounts at a market rate of interest. Total number of share accounts at 12/31/22 was 12,292 in the amount of $51,870,527. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 976 0 1 22 1 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X Michael Giacalone 7206773245 18 S Michigan Avenue Chicago IL 60604 David Bryant Chairperson 1.50 X X 0 0 0 Eugene Williams Vice Chairperson 1.50 X X 0 0 0 Beverly Gulley Secretary 1.00 X X 0 0 0 Lance Lewis Treasurer 1.50 X X 0 0 0 Tracey Ladner Director 1.50 X 0 0 0 Patricia Rios Director 1.50 X 0 0 0 Melanie Neely Director 1.50 X 0 0 0 David McKinney Director 1.50 X 0 0 0 Peter Tzortzakis President and CEO 40.00 X 96885 0 25678 96885 0 25678 0 0 0 0 0 Loans to members 522291 2274619 2274619 Fees and services 525990 1317874 1317874 3592493 264722 264722 3857215 3592493 0 264722 122563 608348 7212 105886 99810 5500 23998 2718 302228 102766 289133 195 125054 40158 Loan servicing 847505 Provision for loan loss 610706 Dividends 303408 Miscellaneous operating 45338 77824 3720350 732628 570330 5621684 1889112 1399517 2046497 30024752 31458733 886962 1156764 4888182 3026656 1981289 1861526 21090000 17955000 663000 803795 62399832 57741757 31494 51132 56733071 51918493 56764565 51969625 X 0 0 0 0 5635267 5772132 5635267 5772132 62399832 57741757 136865 0 X X 0 1 X 1 0 2229259 480044 1749215 294873 225223 69650 2364050 2321389 42661 1861526 Member share accounts 51870527 Lease liability 47966 51918493 X 3857215 0 3857215 0 3857215 3720350 0 3720350 0 3720350 Part X, Line 2: FIN 48 Note from Audited Financial Statements Chicago Municipal Employees Credit Union was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(14). The tax exempt purpose of the Credit Union and the nature in which it operates is described above. Management believes the Credit Union continues to operate in compliance with its tax exempt purpose. The Credit Union had no unrelated business income that management believes is subject to taxation. The Credit Union's annual information returns filed with the Internal Revenue Service are open to examination, generally for three years after filing. Form 990, Part VI, Section A, line 6 Membership consists of individuals with funds on deposit with the Credit Union. Form 990, Part VI, Section A, line 7a Members of the Credit Union have the authority to elect the Board of Directors at the annual meeting. Form 990, Part VI, Section A, line 7b Members vote on various issues at the annual meeting. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by the CEO for completeness and accuracy prior to filing. Form 990, Part VI, Section B, line 12c Board members and key employees sign an annual statement certifying that they have read, understand and agree with the Conflict of Interest Policy in addition to completing a statement of business and financial interest questionnaire. Form 990, Part VI, Section B, line 15 The salary administration plan governs postions and salaries for all staff in an effort to remain competetive with industry standards. Most of the minimum salaries were determined based on the 75th percentile of CUNA's Salary Survey Results. Salaries for positions not surveyed by CUNA were determined based on banking industry data providers such as Salary Wizard and Salary.com. Form 990, Part VI, Section C, line 19 Documents available upon request. Form 990, Part XII, line 2c: The process has not changed from the prior year.