CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 48 LAKE MICHIGAN CREDIT UNION Charity Report

Public IRS 990 nonprofit record

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 48 LAKE MICHIGAN CREDIT UNION

EIN 38-1215360 · Mutual & Membership Benefit (Y)

What they do

PROMOTION of THRIFT and PROVIDING LOW COST CREDIT and OTHER FINANCIAL SERVICES for ITS MEMBERS THROUGH MUTUAL and NONPROFIT ORGANIZATION.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $97.70 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2025The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders27 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

66.66%of revenue went to mission work97.7% of expenses · Program services

$77.33spent for every $100 of revenueRevenue covered expenses this year.

1.58%of revenue went to management and office costs2.3% of expenses

$22.47in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $1,901,498 for JULIE LEONARD (CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2025

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$267,512,162

Mission workProgram services$178,323,66666.66% of revenue97.7% of expenses

ManagementOffice and general costs$4,224,7071.58% of revenue2.3% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$84,963,78931.76% of revenueShown in gray on the chart

Total expenses$182,548,37368.24% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Money in and money out

Revenue$918,222,007

Expenses$710,071,392

Annual surplus $208,150,615 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$178,323,666 · 25.1% of expenses

Management and office costs$4,224,707 · 0.6% of expenses

See all reported dollar amounts

Revenue$918,222,007

Expenses$710,071,392

Assets$15,952,719,108

Income$918,585,702

Mission work (program services)$178,323,666

Grants given$1,612,517

Average grant$23,713

Stocks and bonds$465,984,291

Accounting fees$311,442

People

Leadership and board

Tax year 2025

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JULIE LEONARDCEO · 40 hrs/week $1,901,498Base $1,876,735 · Other $24,763

MATTHEW ADLERMORTGAGE LOAN ORIGINATOR · 40 hrs/week $1,669,191Base $1,645,929 · Other $23,262

ZAC ELLERBROEKMORTGAGE LOAN ORIGINATOR · 40 hrs/week $1,383,047Base $1,365,209 · Other $17,838

ERIC BURGOONCHIEF EXPERIENCE · 40 hrs/week $952,943Base $927,596 · Other $25,347

EMIL IZRAILOVMORTGAGE SALES MANAGER FH · 40 hrs/week $952,464Base $934,271 · Other $18,193

PETER DANNEVP CFO · 40 hrs/week $837,182Base $810,170 · Other $27,012

LUTHER TROOKMORTGAGE LOAN ORIGINATOR · 40 hrs/week $817,109Base $796,311 · Other $20,798

JASON RYBAVP REGIONAL MTG PRODUCTION · 40 hrs/week $716,017Base $691,254 · Other $24,763

SARA KEMPERMANSVP COO · 40 hrs/week $579,052Base $562,495 · Other $16,557

JAMES MASKELLSVP CCO · 40 hrs/week $536,461Base $509,544 · Other $26,917

MARK POWELLSVP CRO · 40 hrs/week $528,649Base $512,982 · Other $15,667

CHRISTOPHER ORTEGACIO · 40 hrs/week $488,918Base $475,324 · Other $13,594

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (27)

JULIE LEONARDCEO

MATTHEW ADLERMORTGAGE LOAN ORIGINATOR

ZAC ELLERBROEKMORTGAGE LOAN ORIGINATOR

ERIC BURGOONCHIEF EXPERIENCE

EMIL IZRAILOVMORTGAGE SALES MANAGER FH

PETER DANNEVP CFO

LUTHER TROOKMORTGAGE LOAN ORIGINATOR

JASON RYBAVP REGIONAL MTG PRODUCTION

SARA KEMPERMANSVP COO

JAMES MASKELLSVP CCO

MARK POWELLSVP CRO

CHRISTOPHER ORTEGACIO

MARTIN PELTIERCGO

CHRISTI COWDINCMO

SARAH MIKLUSICAKCPO

KAYLEE RAFFACSG

JACK NEWBERRYDIRECTOR

BOB WHITEDIRECTOR

JUAN OLIVAREZBOARD VICE CHAIRPERSON

TIMOTHY MYERSBOARD SECRETARY

TIM GORTSEMADIRECTOR

MIKE RICEDIRECTOR

GRETCHEN TELLMAN-PARTRIDGEBOARD CHAIRPERSON

DAVE BARDOLPHBOARD TREASURER

CAITLIN TOWNSEND-LAMBDIRECTOR

BRAD MATHISDIRECTOR

BOB PARTRIDGEDIRECTOR

About this charity

Recognized since: January 1956
Location: PO BOX 2848, GRAND RAPIDS, MI 49501-2848
County: Kent
In care of: PETER DANN
Primary officer: PETER DANN, EVP/CFO

How to reach them

WebsiteVisit the charity’s website Phone(616) 242-9790

Filing and classification

Latest tax year: 2025
Tax period began: January 1, 2025
Return type: 990
Tax preparer: DOEREN MAYHEW
NTEE classification: Mutual & Membership Benefit (Y)
IRS tax category: Mutual & Membership Benefit
Grant-giving organization: Yes