EIN 38-1406340

Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
26
Year formed
1949
Most recent tax filings
2023-12-01
Description
The Local Credit Union employs middle class workers, organized under a collective bargaining agreement in order to stay true to the principles of the 1949 charter.
Related structure
Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union is child organization, under the parent exemption from Credit Unions Chartered in the State of Michigan.
Also known as...
The Local Credit Union; Sterling Van Dyke Credit Union; Local Credit Union
Total revenues
$5,229,098
2023
Total expenses
$5,061,470
2023
Total assets
$106,015,170
2023
Num. employees
26
2023

Program areas at Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union

Provide 11,185 members with various savings, share draft, certificate of deposit, ira and money market accounts with an aggregate balance of approximately $91,947,000 as of december 31, 2023.
Offer automated teller machines, debit cards, check cashing, bill payments, wire transfers and various insurance programs to our members.
Provide 3,861 loans including vehicle, signature, Credit card, mortgage, home equity, overdraft protection and recreational vehicle. Total outstanding loans approximated $47,634,000 as of december 31, 2023.

Personnel at Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union

NameTitleCompensation
Joseph HallmanPresident and Chief Executive Officer$209,177
Sherry LawfieldVice President Retail Operations$107,356
H Frank VoelkerAccounting Manager$84,707
Joe CusenzaChairperson$0
Al BadalamentoVice Chairperson$0
...and 1 more key personnel

Financials for Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$4,126,376
Investment income and dividends$1,105,091
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-2,369
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$5,229,098

Form 990s for Credit Unions Chartered in the State of Michigan - 1130 the Local Credit Union

Fiscal year endingDate received by IRSFormPDF link
2023-122024-08-13990View PDF
2022-122023-08-21990View PDF
2021-122022-11-07990View PDF
2020-122021-11-09990View PDF
2019-122021-06-08990View PDF
...and 11 more Form 990s
Data update history
September 21, 2024
Updated personnel
Identified 1 new personnel
September 26, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 6, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 18, 2023
Posted financials
Added Form 990 for fiscal year 2020
June 2, 2023
Updated personnel
Identified 1 new personnel
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
Address
39139 Mound Rd
Sterling Heights, MI 48310
Metro area
Detroit-Warren-Dearborn, MI
County
Macomb County, MI
Website URL
thelocalcreditunion.com/ 
Phone
(586) 264-1212
Facebook page
TheLocalCreditUnion 
Twitter profile
@thelocalcu 
IRS details
EIN
38-1406340
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1949
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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