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EIN 38-1305916

Michigan Educational Credit Union (MECU)

IRS 501(c) type
501(c)(14)
Num. employees
105
City
Plymouth
State
Michigan
Year formed
1942
Most recent tax filings
2023-12-01
NTEE code, primary
W60: Financial Institutions, Credit Unions
Description
Michigan Educational Credit Union (MECU) formed in 1942, has nearly 50,000 members strong, with assets exceeding $600 million. They serve individuals who reside, work, or worship in Wayne, Washtenaw, Oakland, Macomb, Livingston, and Jackson Counties.
Related structure
MECU is child organization, under the parent exemption from Credit Unions Chartered in the State of Michigan.
Also known as...
Credit Unions Chartered in the State of Michigan Michigan Educational Credit Union
Total revenues
$34,646,685
2023
Total expenses
$31,101,715
2023
Total assets
$1,006,575,527
2023
Num. employees
105
2023

Program areas at MECU

Provide 49,994 members with regular shares, share draft, certificates of deposit, and ira accounts totaling 95,522
Offer automated teller machines, debit cards, money orders, check cashing, travelers checks, overdraft protection/courtesy pay, bill pay and various insurance and investment programs.
Provide 49,854 loans including vehicle, Credit card, home equity, business, personal, boat, motorcycle, motor home, and mortgages.

Personnel at MECU

NameTitleCompensation
Robert SandercockChief Executive Officer$1,905,120
Kevin F FinneranChief Financial Officer$294,678
Joseph RassetteVice President - It$221,506
Ellen GoersVice President - Accounting$217,712
Henry WillsonExecutive Vice President$480,007
...and 9 more key personnel

Financials for MECU

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Program services$26,690,695
Investment income and dividends$7,875,067
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$29,220
Net gain from sale of non-inventory assets$51,703
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$34,646,685

Form 990s for MECU

Fiscal year endingDate received by IRSFormPDF link
2023-122024-04-10990View PDF
2022-122023-04-17990View PDF
2021-122022-05-10990View PDF
2020-122021-06-30990View PDF
2019-122020-08-26990View PDF
...and 10 more Form 990s
Data update history
May 20, 2024
Updated personnel
Identified 1 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 16, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 14, 2023
Updated personnel
Identified 2 new personnel
June 10, 2023
Used new vendors
Identified 1 new vendor, including
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
Address
9200 Haggerty Rd
Plymouth, MI 48170
Metro area
Detroit-Warren-Dearborn, MI
County
Wayne County, MI
Website URL
michedcu.org/ 
Phone
(734) 455-9200
Facebook page
MichiganEducationalCreditUnion 
Twitter profile
@michedcu 
IRS details
EIN
38-1305916
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1942
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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