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Filing year 2024

LOC CREDIT UNION

Farmington, Michigan·EIN 38-0549595·14
Total revenue
$22.2M
Total assets
$445.9M
Total expenses
$18.4M
Reported officers
21
Mission

WE OFFER A COMMITTMENT TO OUR MEMBERS TO PROVIDE QUALITY FINANCIAL SERVICES IN A FRIENDLY MANNER WITH SOUND PROFESSIONAL LEADERSHIP.

Executive compensation, broken down

Form 990 · Schedule J · 9 reported individuals · Filing year 2024

$344k
$363k
Base
$246k
Bonus
$46k
Other
$10k
Benefits
$27k
Senior EVP
executive vice president
$261k
$276k
Base
$172k
Bonus
$23k
Other
$30k
Benefits
$26k
EVP Operations and Technology
executive vice president
$243k
$256k
Base
$141k
Bonus
$14k
Other
$32k
Benefits
$27k
EVP Finance
executive vice president
$216k
$228k
Base
$152k
Bonus
$14k
Other
$21k
Benefits
$20k
VP & Chief Information Officer
chief information officer
$198k
$209k
Base
$153k
Bonus
$12k
Other
$748
Benefits
$25k
VP of Real Estate Lending
vice president
$193k
$203k
Base
$39k
Bonus
$117k
Other
$10k
Benefits
$19k
VP & Chief Marketing/digital Banking Officer
vice president
$171k
$181k
Base
$132k
Bonus
$9k
Other
$11k
Benefits
$12k
VP & Chief Financial Officer
$154k
$162k
Base
$130k
Bonus
$10k
Other
$4k
Benefits
$2k
VP & Chief Lending Officer
vice president
$143k
$151k

Teal figures restate each filed amount in 2026 dollars.

Estimated with Detroit-Warren-Dearborn, MI metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.

Plus 12 unpaid individuals.

Down 1%
from 2023

From $348k in 2023 to $344k in 2024.

$348k
2023
$344k
2024
In today's dollarsEst.
Down 4% in real terms$378k to $363k

Estimated with Detroit-Warren-Dearborn, MI metro-area CPI-U, restating filed pay into April 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

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

RevenueExpenses
$18.8M
$14.6M
2023
$22.2M
$18.4M
2024
Total revenue and total expenses from IRS Form 990 filings.
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