Overview
What is Michigan First Credit Union?
Michigan First Credit Union is a financial institution based in Lathrup Village, Michigan, with a significant presence, employing 630 individuals. Committed to serving as the sole financial solution for its members, Michigan First Credit Union originated $247 million in mortgage loans in 2022. The organization's mission is to cater exclusively to its members' financial needs.
Official website here: www.michiganfirst.com
Is Michigan First Credit Union legitimate?
Michigan First Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Michigan First Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,714,119
Professional Fundraising Fees: $0
Other Salaries and Wages: $30,338,256
For more financial information, click here
Official website here: www.michiganfirst.com
What is the mission statement of Michigan First Credit Union?
Michigan First Credit Union positions itself as the sole financial institution for its members. The institution's mission is centered around this commitment, aiming to serve its members exclusively. In 2022, Michigan First Credit Union facilitated new mortgage loans worth $247 million, demonstrating its significant role in providing financial services to its members. By focusing on its members' financial needs, the credit union strives to build long-lasting relationships and trust. Its dedication extends beyond just offering financial products; Michigan First Credit Union is committed to ensuring its members receive the best possible solutions for their financial situations. This member-centric approach is the driving force behind Michigan First Credit Union's operations.
Official website here: www.michiganfirst.com
Who is the CEO of Michigan First Credit Union?
Jennifer Borowy is the CEO of Michigan First Credit Union The CEO's salary of Michigan First Credit Union is $606,632 and their total compensation is $645,235.
Official website here: www.michiganfirst.com
What is the revenue of Michigan First Credit Union?
Michigan First Credit Union's revenue in 2023 was $123,630,180.
Official website here: www.michiganfirst.com
Who are the executives of Michigan First Credit Union and what are their salaries?
The average compensation at Michigan First Credit Union during 2023 was $55,375. There are 633 employees and 12 volunteers at Michigan First Credit Union.
Here are 26 key members and their salaries (Michigan First Credit Union's CEO's salary is $606,632 and their total compensation is $645,235):
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- Compensation: $0
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- Compensation: $0
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- Compensation: $606,632
- Related: $0
- Other: $38,603
- Compensation: $290,303
- Related: $0
- Other: $45,673
- Compensation: $281,471
- Related: $0
- Other: $30,159
- Compensation: $245,777
- Related: $0
- Other: $16,547
- Compensation: $471,393
- Related: $0
- Other: $70,354
- Compensation: $336,615
- Related: $0
- Other: $83,343
- Compensation: $602,948
- Related: $0
- Other: $114,921
- Compensation: $304,906
- Related: $0
- Other: $77,387
- Compensation: $302,244
- Related: $0
- Other: $77,958
- Compensation: $247,818
- Related: $0
- Other: $33,662
- Compensation: $231,432
- Related: $0
- Other: $36,619
- Compensation: $151,176
- Related: $0
- Other: $16,178
- Compensation: $410,750
- Related: $0
- Other: $33,012
- Compensation: $194,395
- Related: $0
- Other: $33,697
- Compensation: $185,305
- Related: $0
- Other: $25,152
- Compensation: $183,094
- Related: $0
- Other: $32,407
- Compensation: $158,994
- Related: $0
- Other: $30,910
Official website here: www.michiganfirst.com
Where can I find the form 990 for Michigan First Credit Union?
Michigan First Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.michiganfirst.com
Learn more at the official website: www.michiganfirst.com
Mission Statement of Michigan First Credit Union
Michigan First Credit Union, with its mission statement to "be the only financial institution for our members," is dedicated to providing unique financial services to its member base. This commitment to serving as the sole financial institution is a guiding principle for the organization.
In 2022, Michigan First Credit Union originated an impressive $247 million in mortgage loans, demonstrating its significance and reach within the financial sector. By concentrating on the needs and financial goals of its members, the credit union distinguishes itself from competitors. It offers a wide range of financial products and services tailored to its members, ensuring they receive the best possible solutions for their financial situations.
By positioning itself as the exclusive financial institution for its members, Michigan First Credit Union fosters a strong sense of community and loyalty among its clientele. Members can trust that the credit union has their best interests at heart, providing personalized attention and customized financial solutions. Additionally, the credit union's dedicated team works tirelessly to ensure members have access to the financial resources they need to achieve their goals. The mission of Michigan First Credit Union not only sets it apart from other financial institutions, but also empowers its members to take control of their financial futures.
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Impact
October, 2024
Michigan First Credit Union has made a significant impact by positioning itself as a trusted financial institution dedicated to meeting the needs of its members. In 2022, it originated $247 million in mortgage loans, facilitating homeownership and financial stability for many individuals and families. Located in Lathrup Village, Michigan, Michigan First Credit Union focuses on providing tailored financial services to its members, emphasizing a commitment to their well-being and success. With a mission centered on being the sole financial resource for its members, it plays an essential role in promoting economic growth and enhancing the lives of those it serves.
This information is meant to be a general summary of Michigan First Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $8,878,426
- Program Service Revenue: $86,027,639
- Gross Receipts: $144,760,268
Assets and Liabilities:
- Total Assets: $1,481,564,249
- Total Liabilities: $1,322,753,368
- Net Assets: $158,810,881
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER LOAN INCOME
Revenue
$62,819,959
FEE INCOME
Revenue
$23,207,680
Organization Details
Founding Year
1926
Principal Officer
Jennifer Borowy
Website
www.michiganfirst.comNTEE Category
Code: W60 - Public benefit
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