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EIN 38-1305916

Michigan Educational Credit Union (MECU)

IRS 501(c) type
501(c)(14)
Num. employees
102
City
Plymouth
State
Michigan
Year formed
1942
Most recent tax filings
2022-12-01
NTEE code, primary
W60: Financial Institutions, Credit Unions
Description
Michigan Educational Credit Union (MECU) formed in 1942, has nearly 50,000 members strong, with assets exceeding $600 million. They serve individuals who reside, work, or worship in Wayne, Washtenaw, Oakland, Macomb, Livingston, and Jackson Counties.
Related structure
MECU is child organization, under the parent exemption from Credit Unions Chartered in the State of Michigan.
Also known as...
Credit Unions Chartered in the State of Michigan Michigan Educational Credit Union
Total revenues
$30,107,433
2022
Total expenses
$26,318,782
2022
Total assets
$1,037,849,743
2022
Num. employees
102
2022

Program areas at MECU

Provide 50,274 members with regular shares, share draft, certificates of deposit, and ira accounts totaling 95,737
Offer automated teller machines, debit cards, money orders, check cashing, travelers checks, overdraft protection/courtesy pay, bill pay and various insurance and investment programs.
Provide 49,469 loans including vehicle, Credit card, home equity, business, personal, boat, motorcycle, motor home, and mortgages.

Personnel at MECU

NameTitleCompensation
Robert SandercockChief Executive Officer$1,853,686
Kevin F FinneranChief Financial Officer$270,958
Joseph RassetteVice President - It$221,506
Ellen GoersVice President - Accounting$217,712
Henry WillsonExecutive Vice President$445,858
...and 8 more key personnel

Financials for MECU

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$21,994,174
Investment income and dividends$8,081,340
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$24,639
Net gain from sale of non-inventory assets$7,280
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$30,107,433

Form 990s for MECU

Fiscal year endingDate received by IRSFormPDF link
2022-122023-04-17990View PDF
2021-122022-05-10990View PDF
2020-122021-06-30990View PDF
2019-122020-08-26990View PDF
2018-122019-10-18990View PDF
...and 9 more Form 990s
Data update history
June 16, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 14, 2023
Updated personnel
Identified 2 new personnel
June 10, 2023
Used new vendors
Identified 1 new vendor, including
May 20, 2023
Updated personnel
Identified 1 new personnel
October 16, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
State / local level
General information
Address
9200 Haggerty Rd
Plymouth, MI 48170
Metro area
Detroit-Warren-Dearborn, MI
County
Wayne County, MI
Website URL
michedcu.org/ 
Phone
(734) 455-9200
Facebook page
MichiganEducationalCreditUnion 
Twitter profile
@michedcu 
IRS details
EIN
38-1305916
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1942
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
W60: Financial Institutions, Credit Unions
NAICS code, primary
522130: Credit Unions
Parent/child status
Child within group exemption
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