Credit Unions Chartered In The State Of Michigan
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 5,945,159 | 5,628,694 | 316,465 | 10.2 | 26% |
| 2012 | 6,129,589 | 5,324,167 | 805,422 | 12.8 | 31% |
| 2013 | 4,690,190 | 5,727,349 | −1,037,159 | 9.7 | 35% |
| 2014 | 4,677,894 | 5,505,703 | −827,809 | 8.2 | 35% |
| 2015 | 5,401,916 | 5,299,077 | 102,839 | 8.8 | 39% |
| 2016 | 5,662,776 | 5,304,280 | 358,496 | 9.6 | 37% |
| 2017 | 6,155,152 | 6,091,586 | 63,566 | 8.5 | 36% |
| 2018 | 7,597,817 | 7,611,807 | −13,990 | 6.7 | 30% |
| 2019 | 7,469,062 | 7,235,503 | 233,559 | 7.5 | 37% |
| 2020 | 6,100,032 | 6,325,042 | −225,010 | 8.1 | 34% |
| 2021 | 8,815,139 | 6,229,438 | 2,585,701 | 12.3 | 37% |
| 2022 | 7,879,637 | 7,485,838 | 393,799 | 9.1 | 32% |
| 2023 | 15,957,635 | 8,204,182 | 7,753,453 | 19.9 | 36% |
In its most recent public year (2023), this organization brought in $7,753,453 more than it spent. Its reserves stood at about 19.9 months of spending, up from 10.2 in 2011. Staff pay was 36% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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