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Filing year 2024

CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN SOVITA CREDIT UNION

Flint, Michigan·EIN 38-0546210·14
Total revenue
$21.3M
Total assets
$529.4M
Total expenses
$16.7M
Reported officers
11
Mission

TO BECOME THE PRIMARY FINANCIAL SERVICES PROVIDER FOR OUR MEMBERS THROUGH OUR CONTINUAL EFFORT TO EXEMPLIFY COURTEOUS, RELIABLE, COMPREHENSIVE AND PROMPT SERVICES THAT ARE COMPETITIVE WITH THE MARKET AND CORRESPOND TO THE NEEDS OF OUR MEMBERS.

Executive compensation, broken down

Form 990 · Schedule J · 6 reported individuals · Filing year 2024

Base
$305k
Bonus
$2k
Other
$187k
Benefits
$22k
Vice President of Mem Serv
vice president
$297k
$320k
Base
$165k
Bonus
$2k
Other
$814
Benefits
$63k
Vice President of Finance
vice president
$274k
$295k
Base
$173k
Bonus
$2k
Other
$531
Benefits
$47k
Vice President of Lending
vice president
$182k
$195k
Base
$165k
Bonus
$2k
Other
$1k
Benefits
$7k
Director of Marketing
director (operational)
$156k
$168k
Base
$101k
Bonus
$2k
Other
$256
Benefits
$36k
Coo/board Secretary
officer (unspecified)
$20k
$21k

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 5 unpaid individuals.

Up 50%
from 2023

From $345k in 2023 to $517k in 2024.

$345k
2023
$517k
2024
In today's dollarsEst.
Up 46% in real terms$381k to $556k

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 SOVITA CREDIT UNION reported revenue and expenses across 2 filing years.

RevenueExpenses
$18.3M
$12.8M
2023
$21.3M
$16.7M
2024
Total revenue and total expenses from IRS Form 990 filings.
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