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EIN 38-0481580

Michigan First Credit Union

IRS 501(c) type
501(c)(14)
Num. employees
630
City
Lathrup Village
State
Michigan
Year formed
1926
Most recent tax filings
2022-12-01
NTEE code, primary
W60: Financial Institutions, Credit Unions
Description
Michigan First is a high tech, member-driven credit union serving Michigan since 1926 with the latest in online financial management tools and resources.
Related structure
Michigan First Credit Union 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
Total revenues
$108,549,762
2022
Total expenses
$92,866,847
2022
Total assets
$1,481,564,249
2022
Num. employees
630
2022

Program areas at Michigan First Credit Union

Originated $247 million in mortgage loans during 2022.
Originated $227 million in consumer loans during 2022.
Served over 187,700 members with aggregate deposit accounts that approximated $1.1 billion as of december 31, 2022.

Grants made by Michigan First Credit Union

GranteeGrant descriptionAmount
Michigan First FoundationTo Assist the Foundation in Supporting Community Agencies and Organizations and To Provide Scholarships To Students$80,000

Personnel at Michigan First Credit Union

NameTitleCompensation
Jennifer BorowyChief Executive Officer$337,176
Delonaka EdwardsChief Operations Officer$182,783
Janet BardenChief Financial Officer$262,358
Gerald BettensChief Information Officer$321,683
Daniel SuggChief Mortgage Officer$484,402
...and 7 more key personnel

Financials for Michigan First Credit Union

RevenuesFYE 12/2022
Total grants, contributions, etc.$1,926,973
Program services$74,628,721
Investment income and dividends$5,793,939
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$42,769
Net gain from sale of non-inventory assets$-8,804
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$26,166,164
Total revenues$108,549,762

Form 990s for Michigan First Credit Union

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-02990View PDF
2021-122022-10-04990View PDF
2020-122021-11-08990View PDF
2019-122021-08-17990OView PDF
2018-122020-02-05990View PDF
...and 9 more Form 990s
Data update history
January 21, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 21, 2024
Updated personnel
Identified 4 new personnel
July 4, 2023
Used new vendors
Identified 1 new vendor, including
June 28, 2023
Posted financials
Added Form 990 for fiscal year 2020
June 12, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
MembershipsState / local levelReceives government funding
General information
Address
27000 Evergreen Rd
Lathrup Village, MI 48076
Metro area
Detroit-Warren-Dearborn, MI
County
Oakland County, MI
Website URL
michiganfirst.com/ 
Phone
(800) 664-3828
Facebook page
MichiganFirstCreditUnion 
Twitter profile
@michiganfirstcu 
IRS details
EIN
38-0481580
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1926
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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