2023-11-09T15:57:10-07:00 2022-12-31 990 2022-01-01 381350130 CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN CRED 3133228279 400 Town Center Drive Dearborn MI 48126 John Chapel-Pearch CFO 3133228693 2023-11-07 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Ryan Goldberg 400 Town Center Drive Dearborn MI 48126 179964241 1 1 1359 X www.dfcufinancial.com X 1936 MI Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products. 9 9 649 0 179357 0 0 0 102729933 93648334 78554493 86315907 0 0 181284426 179964241 78727 86657 0 0 49569300 53374217 0 0 0 67059949 77465353 116707976 130926227 64576450 49038014 6455380939 6001741823 5713445467 5768612314 741935472 233129509 Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products. 0 0 130926227 0 179964241 Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products. Highly personalized service, easy to understand, financial expertise offering a full range of financial services and products. 0 0 0 130926227 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 230858 0 1 649 1 1 1 0 0 0 0 0 1 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 X Mary Kalinski 3133228279 400 Town Center Drive Dearborn MI 48126 Mark Shobe CEO - Former 40 0 X 4154195 0 0 Brad Sova Financial Consultant 40 0 X 1386634 0 0 Ryan Goldberg CEO 40 0 X 736826 0 0 John Friday Financial Consultant 40 0 X 596347 0 0 Vince Pittiglio Chief Technology Officer 40 0 X 472461 0 0 Keri Boyd Chief Financial Service Officer 40 0 X 469753 0 0 John Chapel-Pearch CFO 40 0 X 467418 0 0 Patrick Maher President DFCU Financial Patrners 40 0 X 467280 0 0 Doug Cooper Chief Lending Officer 40 0 X 465618 0 0 Brian Mell Financial Consultant 40 0 X 442510 0 0 Scott Vermillion Investment Consultant 40 0 X 369175 0 0 James Cowper Board Member Chairperson 1.00 0 X 0 0 0 Matt Elsey Board Treasurer 1 0 X 0 0 0 Keith Moss Board Member Vice Chair 1 0 X 0 0 0 Donald Tomford Board Secretary 1 0 X 0 0 0 Shirley Ghannam Board Member 1 0 X 0 0 0 Margaret Dimond Board Member 1 0 X 0 0 0 Annetta May Board Member 1 0 X 0 0 0 John Sinelli Board Member 1.00 0 X 0 0 0 James Bazner Board Member 1.00 0 X 0 0 0 10028217 0 0 77 1 1 0 0 0 Interest Income & Income From Members 522130 93648334 93468977 179357 0 0 0 0 0 93648334 86334635 86334635 0 0 0 0 0 0 0 0 0 0 0 0 0 -18728 0 0 0 -18728 -18728 -18728 0 0 0 179964241 179784884 179357 0 86657 0 0 0 10028219 0 31886671 3452339 4554845 3452143 0 244207 654532 0 0 0 0 1413387 1883263 9037402 0 4295589 155213 0 180777 4039151 0 2659721 464677 Provision for Loan Loss 706666 Cash Back 38275457 Loan Servicing 1588537 Channel Expenses 8983803 2882971 130926227 0 0 0 16625580 119394805 0 0 0 0 20584521 19788690 14109248 37281051 0 0 918971407 1045259431 0 0 1836259 2485674 103109412 57027012 37393201 46082400 0 0 5361572404 4639967877 13721300 12202700 0 11620890 70567019 67658305 6455380939 6001741823 76271763 87202345 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5637173704 5681409969 5713445467 5768612314 X 0 0 0 0 741935472 233129509 741935472 233129509 6455380939 6001741823 X 49038014 -560615998 0 0 0 2772021 X 0 1 1 0 0 14424861 14424861 0 50978586 30652707 20325879 0 12016264 4155515 7860749 0 23945218 22218790 1726428 0 1744483 0 1744483 46082400 0 F 0 F CMO & MBS 2845627604 F Agency 1627626314 F Interest Bearing Deposits 166713959 F 4639967877 0 Share Checking 1241342759 Share Saving 1514284297 Share IMMA 2277506043 Share Certificate 357579267 Shares IRA 142681052 Business Shares 140568560 Escrow 7119688 Other 328303 5681409969 179964241 0 0 0 0 0 179964241 0 0 0 179964241 130926227 0 0 0 0 0 130926227 0 0 0 130926227 1 The Henry Ford 20900 Oakwood BLVD Dearborn MI 48124 381359130 501c3 20000 Cash Donation made in communities where we do business to improve the community.. Sparrow Foundation 30773 Milford Road PMB 196 New Hudson MI 48165 824027093 501c3 15000 Cash Donation made to improve the community. Henry Ford Health Systm 1 Ford Place 5A Detroit MI 48202 381357020 501c3 10000 Cash Donation made to improve the community where we do business in. Dearborn School Foundation 363857599 7000 Cash Support schools in communities we do business in Angles of Hope 7755 22 Mile Rd Shelby Township MI 48318 043795236 501c3 10000 Cash Donation to improve communities we do business in. 5 0 Schedule I, Part I, Line 2 Grant forms are submitted to DFCU Financial and grants are made based on merit and available in locations where we do business. X X 1 1 X X X 0 1 0 Mark Shobe CEO - Former 1098856 0 1710500 0 1344839 0 47950 0 17358 0 4219503 0 510000 0 Ryan Goldberg CEO 736826 0 0 0 0 0 12200 0 24 0 749050 0 0 0 John Chapel-Pearch CFO 325668 0 141750 0 0 0 47950 0 21260 0 536628 0 0 0 Keri Boyd Chief Financial Service Officer 328003 0 141750 0 0 0 47950 0 14190 0 531893 0 0 0 Vince Pittiglio Chief Technology Officer 330711 0 141750 0 0 0 47546 0 17124 0 537131 0 0 0 Doug Cooper Chief Lending Officer 323868 0 141750 0 0 0 43206 0 21286 0 530110 0 0 0 Brad Sova Financial Consultant 1386634 0 0 0 0 0 32700 0 21025 0 1440359 0 0 0 Scott Vermillion Investment Consultant 369175 0 0 0 0 0 12357 0 23532 0 405064 0 0 0 John Friday Financial Consultant 596347 0 0 0 0 0 32700 0 23532 0 652579 0 0 0 Patrick Maher President DFCU Financial Patrners 165195 0 302085 0 0 0 20950 0 21260 0 509490 0 0 0 Brian Mell Financial Consultant 442510 0 0 0 0 0 21992 0 0 0 464502 0 0 0 Schedule J, Part I, Line 1a Board members are reimbursed for costs related to attending the board planning retreat. Cost for spouse and dependent children accompanying the director to the retreat are also reimbursed. Schedule J, Part I, Line 3 The organization reviews salaries by an independent consultant and studies. Schedule J, Part I, Line 4 The former CEO had a retirement plan. The organization deposited funds into a life insurance policy on the participants life. During life and subject to the policy generating sufficient values, the participate can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds. Participates are listed in schedule L, Part II. Ryan Goldberg CEO Premium for Life Insurance X 22600000 22951628 0 1 1 John Chapel-Pearch CFO Premium for Life Insurance X 2375000 2437893 0 1 1 Douglas Cooper Chief Lending Officer Premium for Life Insurance X 3100000 3176101 0 1 1 Geno Pittiglio Chief Technology Officer Premium for Life Insurance X 6300000 6512650 0 1 1 Keri Boyd Chief Retail Service Officer Premium for Life Insurance X 2150000 2202779 0 1 1 37281051 Form 990, Part VI, Section A, Line 6 The organization has members. Form 990, Part VI, Section A, Line 7a Credit Union members can participate in the election process. Form 990, Part VI, Section A, Line 7b Credit Union members can participate in the election process and certain merger decisions. Form 990, Part VI, Section B, Line 11b The return is reviewed and signed by the CFO. Form 990, Part VI, Section B, Line 12c The organization has a signed statement by directors to inform conflict of interests on an ongoing basis. Form 990, Part VI, Section B, Line 15 The organization reviews salaries by an independent consultant and studies. Salary is also approved by the board. Form 990, Part VI, Section C, Line 19 The governing documents and conflict of interest policy are not made available to the public. Financial statements are made available to the public on the NCUA website via 5300 filing. Form 990, Part XI, Line 9 Business changes and retiree medical Extension was filed and granted.