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Filing year 2024

MICHIGAN EDUCATIONAL CREDIT UNION

Plymouth, Michigan·EIN 38-1305916·501(c)(14)
Total revenue
$39M
Total assets
$1B
Total expenses
$35.4M
Reported officers
21
Mission

To provide members with quality, comprehensive and cost effective financial services.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 11 reported individuals · Filing year 2024

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

Chief Executive Officer
Above 90th percentile
$2M
$2.2M
Base
$1M
Bonus
$50k
Other
$855k
Benefits
$43k
Executive Vice President
75th to 90th percentile
$575k
$607k
Base
$374k
Bonus
$51k
Other
$66k
Benefits
$34k
Vice President
Board Vice President
Above 90th percentile
$412k
$435k
Base
$299k
Bonus
$45k
Other
$868
Benefits
$17k
Chief Financial Officer
Above 90th percentile
$379k
$400k
Base
$264k
Bonus
$38k
Other
$3k
Benefits
$30k
Branch Manager
Key Employee
Median to 75th percentile
$242k
$255k
Base
$179k
Bonus
$10k
Other
$406
Benefits
$29k
Executive Assistant
Highest Compensated Employee
Median to 75th percentile
$233k
$246k
Base
$162k
Bonus
$20k
Other
$160
Benefits
$28k
Marketing Supervisor
Key Employee
Median to 75th percentile
$206k
$218k
Base
$160k
Bonus
$4k
Other
$676
Benefits
$21k
Branch Manager
Highest Compensated Employee
Median to 75th percentile
$190k
$200k
Base
$140k
Bonus
$6k
Other
$573
Benefits
$26k
Digital Services Manager
Highest Compensated Employee
Median to 75th percentile
$185k
$195k
Base
$131k
Bonus
$10k
Other
$110
Benefits
$26k
Branch Manager
Highest Compensated Employee
Median to 75th percentile
$180k
$190k
Base
$130k
Bonus
$6k
Other
$187
Benefits
$27k
Branch Manager
Highest Compensated Employee
Median to 75th percentile
$172k
$181k
Base
$125k
Bonus
$6k
Other
$176
Benefits
$25k

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 10 unpaid individuals.

Up 2%
from 2023

From $2M in 2023 to $2M in 2024.

$2M
2023
$2M
2024
In today's dollarsEst.
Down 1% in real terms$2.2M to $2.2M

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 rose 2% from 2023 to 2024, while revenue rose 13%.

$2M in 2023 to $2M in 2024.
  • Executive Vice President pay rose 2% from 2023 to 2024.
  • Board Vice President pay rose 4% 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

MICHIGAN EDUCATIONAL CREDIT UNION reported revenue and expenses across 2 filing years.

RevenueExpenses
$34.6M
$31.1M
2023
$39M
$35.4M
2024
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about MICHIGAN EDUCATIONAL CREDIT UNION

What does the Chief Executive Officer of MICHIGAN EDUCATIONAL CREDIT UNION earn?

In 2024, the Chief Executive Officer of MICHIGAN EDUCATIONAL CREDIT UNION received $2,049,290 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 MICHIGAN EDUCATIONAL 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 MICHIGAN EDUCATIONAL CREDIT UNION falls in the top 10%.

What are MICHIGAN EDUCATIONAL CREDIT UNION's revenue and expenses?

In 2024, MICHIGAN EDUCATIONAL CREDIT UNION reported $39M in total revenue and $35.4M in total expenses on its IRS Form 990.

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