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Filing year 2024

LOC CREDIT UNION

Farmington, Michigan·EIN 38-0549595·501(c)(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 · Part VII & Schedule J · 9 reported individuals · Filing year 2024

Percentile bands compare each position's total pay with the same role at nonprofits nationwide, across all sectors.

President/ceo
Above 90th percentile
$344k
$363k
Base
$246k
Bonus
$46k
Other
$10k
Benefits
$27k
Senior EVP
Executive Vice President
Median to 75th percentile
$261k
$276k
Base
$172k
Bonus
$23k
Other
$30k
Benefits
$26k
EVP Operations and Technology
Executive Vice President
Median to 75th percentile
$243k
$256k
Base
$141k
Bonus
$14k
Other
$32k
Benefits
$27k
EVP Finance
Executive Vice President
Median to 75th percentile
$216k
$228k
Base
$152k
Bonus
$14k
Other
$21k
Benefits
$20k
VP & Chief Information Officer
Chief Information Officer
Median to 75th percentile
$198k
$209k
Base
$153k
Bonus
$12k
Other
$748
Benefits
$25k
VP of Real Estate Lending
Board Vice President
Median to 75th percentile
$193k
$203k
Base
$39k
Bonus
$117k
Other
$10k
Benefits
$19k
VP & Chief Marketing/digital Banking Officer
Board Vice President
Median to 75th percentile
$171k
$181k
Base
$132k
Bonus
$9k
Other
$11k
Benefits
$12k
VP & Chief Financial Officer
Median to 75th percentile
$154k
$162k
Base
$130k
Bonus
$10k
Other
$4k
Benefits
$2k
VP & Chief Lending Officer
Board Vice President
Median to 75th percentile
$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.

Pay for the position

Chief Executive Officer pay fell 1% from 2023 to 2024, while revenue rose 18%.

$348k in 2023 to $344k in 2024.
  • Executive Vice President pay fell 2% from 2023 to 2024.
  • Chief Information Officer pay rose 5% from 2023 to 2024.

Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.

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.
FAQ

Common questions about LOC CREDIT UNION

What does the Chief Executive Officer of LOC CREDIT UNION earn?

In 2024, the Chief Executive Officer of LOC CREDIT UNION received $344,037 in total compensation. This pay is in the top 10% for Chief Executive Officer roles among nonprofits nationwide, across all sectors: at least 9 in 10 comparable filings report less. Based on IRS Form 990 data.

How does Chief Executive Officer pay at LOC CREDIT UNION compare with similar nonprofits?

Compared with the same role at nonprofits nationwide, across all sectors, the 2024 pay of the Chief Executive Officer at LOC CREDIT UNION falls in the top 10%.

What are LOC CREDIT UNION's revenue and expenses?

In 2024, LOC CREDIT UNION reported $22.2M in total revenue and $18.4M in total expenses on its IRS Form 990.

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