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Filing year 2024

Preferred Credit Union

Grand Rapids, Michigan·EIN 38-1878763·501(c)(14)
Total revenue
$18.5M
Total assets
$289.4M
Total expenses
$15.7M
Reported officers
14
Mission

PROVIDE FINANCIAL SERVICES AND PRODUCTS TO MEMBERS.

Executive compensation, broken down

Form 990 · Part VII & Schedule J · 7 reported individuals · Filing year 2024

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

CEO
Above 90th percentile
$338k
$364k
Base
$263k
Bonus
$39k
Other
$5k
Benefits
$6k
CFO
75th to 90th percentile
$181k
$195k
Base
$129k
Bonus
$29k
Other
$2k
Benefits
$6k
COO
Median to 75th percentile
$179k
$192k
Base
$124k
Bonus
$22k
Other
$309
Benefits
$18k
Vice President
75th to 90th percentile
$162k
$174k
Base
$106k
Bonus
$24k
Other
$308
Benefits
$18k
Human Resources Director
Unclassified
$150k
$162k
Base
$75k
Bonus
$63k
Other
$3k
Benefits
Vice President
75th to 90th percentile
$140k
$151k
Vice President
Median to 75th percentile
$114k
$122k

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 7 unpaid individuals.

Up 3%
from 2023

From $327k in 2023 to $338k in 2024.

$327k
2023
$338k
2024
In today's dollarsEst.
Up 1% in real terms$361k to $364k

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.

Pay for the position

Chief Executive Officer pay rose 3% from 2023 to 2024, while revenue rose 17%.

$327k in 2023 to $338k in 2024.
  • Chief Financial Officer pay rose 14% from 2023 to 2024.
  • Vice President pay rose 8% 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

Preferred Credit Union reported revenue and expenses across 2 filing years.

RevenueExpenses
$15.8M
$13M
2023
$18.5M
$15.7M
2024
Total revenue and total expenses from IRS Form 990 filings.
FAQ

Common questions about Preferred Credit Union

What does the Chief Executive Officer of Preferred Credit Union earn?

In 2024, the Chief Executive Officer of Preferred Credit Union received $338,243 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 Preferred 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 Preferred Credit Union falls in the top 10%.

What are Preferred Credit Union's revenue and expenses?

In 2024, Preferred Credit Union reported $18.5M in total revenue and $15.7M in total expenses on its IRS Form 990.

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