Mission
PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION.
Executive compensation, broken down
Form 990 · Schedule J · 20 reported individuals · Filing year 2024
$6.6M
$7.1M
- Base
- $708k
- Bonus
- $5.8M
- Other
- $7k
- Benefits
- $2k
Mortgage Loan Originator
highest compensated employee
$1.3M
$1.4M
- Base
- $1.3M
- Bonus
- $154
- Other
- $781
- Benefits
- $11k
Mortgage Loan Originator
highest compensated employee
$1.1M
$1.2M
- Base
- $1.1M
- Bonus
- $154
- Other
- $450
- Benefits
- $11k
$1.1M
$1.1M
- Base
- $881k
- Bonus
- $100k
- Other
- $18k
- Benefits
- $7k
VP Retail Mortgage Sales Tc
vice president
$984k
$1.1M
- Base
- $933k
- Bonus
- $154
- Other
- $690
- Benefits
- $10k
Chief Experience
officer (unspecified)
$875k
$942k
- Base
- $648k
- Bonus
- $151k
- Other
- $9k
- Benefits
- $10k
Mortgage Sales Manager Brighton
highest compensated employee
$823k
$885k
- Base
- $773k
- Bonus
- $154
- Other
- $690
- Benefits
- $8k
EVP CFO
$760k
$818k
- Base
- $550k
- Bonus
- $145k
- Other
- $14k
- Benefits
- $11k
Mortgage Sales Manager Fh
highest compensated employee
$691k
$744k
- Base
- $561k
- Bonus
- $307
- Other
- $961
- Benefits
- $107k
SVP Cco
senior vice president
$504k
$542k
- Base
- $360k
- Bonus
- $90k
- Other
- $1k
- Benefits
- $12k
SVP Cro
senior vice president
$488k
$524k
- Base
- $367k
- Bonus
- $83k
- Other
- $604
- Benefits
- $5k
SVP COO
$466k
$501k
- Base
- $376k
- Bonus
- $76k
- Other
- $10k
- Benefits
- $4k
CPO
officer (unspecified)
$432k
$465k
- Base
- $217k
- Bonus
- $114k
- Other
- $73k
- Benefits
- $2k
Cgo
key employee
$412k
$443k
- Base
- $275k
- Bonus
- $51k
- Other
- $13k
- Benefits
- $12k
Former SVP Consumer Lending
senior vice president
$340k
$366k
- Base
- —
- Bonus
- —
- Other
- $340k
- Benefits
- —
CMO
officer (unspecified)
$290k
$312k
- Base
- $230k
- Bonus
- $24k
- Other
- $817
- Benefits
- —
CMO
officer (unspecified)
$290k
$312k
- Base
- $203k
- Bonus
- $65k
- Other
- $8k
- Benefits
- $3k
CIO
chief information officer
$238k
$256k
- Base
- $122k
- Bonus
- —
- Other
- $109k
- Benefits
- $2k
CPO
key employee
$225k
$242k
- Base
- $200k
- Bonus
- $18k
- Other
- $283
- Benefits
- $7k
CIO
chief information officer
$173k
$186k
- Base
- $156k
- Bonus
- —
- Other
- $16k
- Benefits
- $2k
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
CEO | $708k | $5.8M | $7k | $2k | $6.6M $7.1M |
Mortgage Loan Originator highest compensated employee | $1.3M | $154 | $781 | $11k | $1.3M $1.4M |
Mortgage Loan Originator highest compensated employee | $1.1M | $154 | $450 | $11k | $1.1M $1.2M |
CEO | $881k | $100k | $18k | $7k | $1.1M $1.1M |
VP Retail Mortgage Sales Tc vice president | $933k | $154 | $690 | $10k | $984k $1.1M |
Chief Experience officer (unspecified) | $648k | $151k | $9k | $10k | $875k $942k |
Mortgage Sales Manager Brighton highest compensated employee | $773k | $154 | $690 | $8k | $823k $885k |
EVP CFO | $550k | $145k | $14k | $11k | $760k $818k |
Mortgage Sales Manager Fh highest compensated employee | $561k | $307 | $961 | $107k | $691k $744k |
SVP Cco senior vice president | $360k | $90k | $1k | $12k | $504k $542k |
SVP Cro senior vice president | $367k | $83k | $604 | $5k | $488k $524k |
SVP COO | $376k | $76k | $10k | $4k | $466k $501k |
CPO officer (unspecified) | $217k | $114k | $73k | $2k | $432k $465k |
Cgo key employee | $275k | $51k | $13k | $12k | $412k $443k |
Former SVP Consumer Lending senior vice president | — | — | $340k | — | $340k $366k |
CMO officer (unspecified) | $230k | $24k | $817 | — | $290k $312k |
CMO officer (unspecified) | $203k | $65k | $8k | $3k | $290k $312k |
CIO chief information officer | $122k | — | $109k | $2k | $238k $256k |
CPO key employee | $200k | $18k | $283 | $7k | $225k $242k |
CIO chief information officer | $156k | — | $16k | $2k | $173k $186k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 12 unpaid individuals.
Up 129%
from 2023
From $2.9M in 2023 to $6.6M in 2024.
$2.9M
2023
$6.6M
2024
$2.9M
2023
$6.6M
2024
In today's dollarsEst.
Up 123% in real terms$3.2M to $7.1M
Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend
Revenue and expenses over time
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 48 LAKE MICHIGAN CREDIT UNION reported revenue and expenses across 2 filing years.
RevenueExpenses
$692M
$519.8M
2023
$829.4M
$680.2M
2024
Total revenue and total expenses from IRS Form 990 filings.
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