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Employer Identification Number 38-1406340

THE LOCAL CREDIT UNION is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:THE LOCAL CREDIT UNION
Employer identification number (EIN):38-1406340
EIN Issuing AuthorityCincinnati, OH
NAIC Classification:522130
NAIC Description:Credit Unions
401k Pension/Benefits registration THE LOCAL CREDIT UNION 401k plan information
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementTO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.
Number of Employees23
Number of Volunteers11
Year Formed1949

Organization Governance

Legal DomicileMI
Voting Members - Governing Body7
Voting Members - Independent7

Organization Financials

2024-12-31
Total unrelated business incomeUSD $ 22,731
Net unrelated business incomeUSD $ 22,731
Program Service Revenue from prior yearUSD $ 4,126,376
Program Service Revenue from current yearUSD $ 4,310,243
Investment Income from prior yearUSD $ 1,102,722
Investment Income from current yearUSD $ 1,341,029
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 5,673,595
Net assets / fund balances at end of fiscal yearUSD $ 13,861,709
Net assets / fund balances at beginning of fiscal yearUSD $ 12,592,508
Total liabilities at end of fiscal yearUSD $ 89,030,069
Total liabilities at beginning of fiscal yearUSD $ 93,422,662
Total assets at end of fiscal yearUSD $ 102,891,778
Total assets at beginning of fiscal yearUSD $ 106,015,170
Revenues less expenses for current yearUSD $ 300,852
Revenues less expenses for previous yearUSD $ 167,628
Total expenses for current yearUSD $ 5,350,420
Total expenses for previous yearUSD $ 5,061,470
Other expenses in current yearUSD $ 3,335,748
Other expenses in previous yearUSD $ 3,124,644
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,014,672
Employee salary and benefits paid in previous yearUSD $ 1,936,826
Benefits paid to or for members in current yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Total revenue in current fiscal yearUSD $ 5,651,272
Total revenue in previous fiscal yearUSD $ 5,229,098
Contributions and grants from current yearUSD $ 0
2023-12-31
Total unrelated business incomeUSD $ 24,131
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,953,282
Program Service Revenue from current yearUSD $ 4,126,376
Investment Income from prior yearUSD $ 942,849
Investment Income from current yearUSD $ 1,102,722
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 5,260,298
Net assets / fund balances at end of fiscal yearUSD $ 12,592,508
Net assets / fund balances at beginning of fiscal yearUSD $ 11,762,814
Total liabilities at end of fiscal yearUSD $ 93,422,662
Total liabilities at beginning of fiscal yearUSD $ 95,781,089
Total assets at end of fiscal yearUSD $ 106,015,170
Total assets at beginning of fiscal yearUSD $ 107,543,903
Revenues less expenses for current yearUSD $ 167,628
Revenues less expenses for previous yearUSD $ 343,932
Total expenses for current yearUSD $ 5,061,470
Total expenses for previous yearUSD $ 4,552,199
Other expenses in current yearUSD $ 3,124,644
Other expenses in previous yearUSD $ 2,740,918
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,936,826
Employee salary and benefits paid in previous yearUSD $ 1,811,281
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 5,229,098
Total revenue in previous fiscal yearUSD $ 4,896,131
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2022-12-31
Total unrelated business incomeUSD $ 24,992
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,899,245
Program Service Revenue from current yearUSD $ 3,953,282
Investment Income from prior yearUSD $ 826,924
Investment Income from current yearUSD $ 942,849
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 4,935,030
Net assets / fund balances at end of fiscal yearUSD $ 11,762,814
Net assets / fund balances at beginning of fiscal yearUSD $ 14,922,943
Total liabilities at end of fiscal yearUSD $ 95,781,089
Total liabilities at beginning of fiscal yearUSD $ 96,179,949
Total assets at end of fiscal yearUSD $ 107,543,903
Total assets at beginning of fiscal yearUSD $ 111,102,892
Revenues less expenses for current yearUSD $ 343,932
Revenues less expenses for previous yearUSD $ 290,800
Total expenses for current yearUSD $ 4,552,199
Total expenses for previous yearUSD $ 4,435,369
Other expenses in current yearUSD $ 2,740,918
Other expenses in previous yearUSD $ 2,699,671
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,811,281
Employee salary and benefits paid in previous yearUSD $ 1,735,698
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,896,131
Total revenue in previous fiscal yearUSD $ 4,726,169
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2021-12-31
Total unrelated business incomeUSD $ 23,400
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,821,035
Program Service Revenue from current yearUSD $ 3,899,245
Investment Income from prior yearUSD $ 782,060
Investment Income from current yearUSD $ 826,924
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 4,836,564
Net assets / fund balances at end of fiscal yearUSD $ 14,922,943
Net assets / fund balances at beginning of fiscal yearUSD $ 15,635,581
Total liabilities at end of fiscal yearUSD $ 96,179,949
Total liabilities at beginning of fiscal yearUSD $ 92,613,198
Total assets at end of fiscal yearUSD $ 111,102,892
Total assets at beginning of fiscal yearUSD $ 108,248,779
Revenues less expenses for current yearUSD $ 290,800
Revenues less expenses for previous yearUSD $ 200,637
Total expenses for current yearUSD $ 4,435,369
Total expenses for previous yearUSD $ 4,402,458
Other expenses in current yearUSD $ 2,699,671
Other expenses in previous yearUSD $ 2,786,820
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,735,698
Employee salary and benefits paid in previous yearUSD $ 1,615,638
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,726,169
Total revenue in previous fiscal yearUSD $ 4,603,095
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2020-12-31
Total unrelated business incomeUSD $ 20,824
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,929,406
Program Service Revenue from current yearUSD $ 3,821,035
Investment Income from prior yearUSD $ 879,832
Investment Income from current yearUSD $ 782,060
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 5,015,698
Net assets / fund balances at end of fiscal yearUSD $ 15,635,581
Net assets / fund balances at beginning of fiscal yearUSD $ 14,799,868
Total liabilities at end of fiscal yearUSD $ 92,613,198
Total liabilities at beginning of fiscal yearUSD $ 81,244,287
Total assets at end of fiscal yearUSD $ 108,248,779
Total assets at beginning of fiscal yearUSD $ 96,044,155
Revenues less expenses for current yearUSD $ 200,637
Revenues less expenses for previous yearUSD $ 342,514
Total expenses for current yearUSD $ 4,402,458
Total expenses for previous yearUSD $ 4,466,724
Other expenses in current yearUSD $ 2,786,820
Other expenses in previous yearUSD $ 2,964,189
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,615,638
Employee salary and benefits paid in previous yearUSD $ 1,502,535
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,603,095
Total revenue in previous fiscal yearUSD $ 4,809,238
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2019-12-31
Total unrelated business incomeUSD $ 28,249
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,764,055
Program Service Revenue from current yearUSD $ 3,929,406
Investment Income from prior yearUSD $ 840,710
Investment Income from current yearUSD $ 879,832
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 4,849,138
Net assets / fund balances at end of fiscal yearUSD $ 14,799,868
Net assets / fund balances at beginning of fiscal yearUSD $ 13,591,649
Total liabilities at end of fiscal yearUSD $ 81,244,287
Total liabilities at beginning of fiscal yearUSD $ 77,157,515
Total assets at end of fiscal yearUSD $ 96,044,155
Total assets at beginning of fiscal yearUSD $ 90,749,164
Revenues less expenses for current yearUSD $ 342,514
Revenues less expenses for previous yearUSD $ 271,467
Total expenses for current yearUSD $ 4,466,724
Total expenses for previous yearUSD $ 4,333,298
Other expenses in current yearUSD $ 2,964,189
Other expenses in previous yearUSD $ 2,708,589
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,502,535
Employee salary and benefits paid in previous yearUSD $ 1,624,709
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,809,238
Total revenue in previous fiscal yearUSD $ 4,604,765
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2018-12-31
Total unrelated business incomeUSD $ 28,271
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,353,419
Program Service Revenue from current yearUSD $ 3,764,055
Investment Income from prior yearUSD $ 972,957
Investment Income from current yearUSD $ 840,710
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 4,858,303
Net assets / fund balances at end of fiscal yearUSD $ 13,591,649
Net assets / fund balances at beginning of fiscal yearUSD $ 13,714,109
Total liabilities at end of fiscal yearUSD $ 77,157,515
Total liabilities at beginning of fiscal yearUSD $ 79,239,420
Total assets at end of fiscal yearUSD $ 90,749,164
Total assets at beginning of fiscal yearUSD $ 92,953,529
Revenues less expenses for current yearUSD $ 271,467
Revenues less expenses for previous yearUSD $ 320,652
Total expenses for current yearUSD $ 4,333,298
Total expenses for previous yearUSD $ 4,005,724
Other expenses in current yearUSD $ 2,708,589
Other expenses in previous yearUSD $ 2,480,386
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,624,709
Employee salary and benefits paid in previous yearUSD $ 1,525,338
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,604,765
Total revenue in previous fiscal yearUSD $ 4,326,376
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2017-12-31
Total unrelated business incomeUSD $ 30,059
Net unrelated business incomeUSD $ -47,211
Program Service Revenue from prior yearUSD $ 2,510,163
Program Service Revenue from current yearUSD $ 3,353,419
Investment Income from prior yearUSD $ 1,011,896
Investment Income from current yearUSD $ 972,957
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 5,301,203
Net assets / fund balances at end of fiscal yearUSD $ 13,714,109
Net assets / fund balances at beginning of fiscal yearUSD $ 13,311,563
Total liabilities at end of fiscal yearUSD $ 79,239,420
Total liabilities at beginning of fiscal yearUSD $ 79,586,847
Total assets at end of fiscal yearUSD $ 92,953,529
Total assets at beginning of fiscal yearUSD $ 92,898,410
Revenues less expenses for current yearUSD $ 320,652
Revenues less expenses for previous yearUSD $ 62,872
Total expenses for current yearUSD $ 4,005,724
Total expenses for previous yearUSD $ 3,459,187
Other expenses in current yearUSD $ 2,480,386
Other expenses in previous yearUSD $ 2,105,593
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,525,338
Employee salary and benefits paid in previous yearUSD $ 1,353,594
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,326,376
Total revenue in previous fiscal yearUSD $ 3,522,059
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
2016-12-31
Total unrelated business incomeUSD $ 86,687
Net unrelated business incomeUSD $ -14,068
Program Service Revenue from prior yearUSD $ 1,957,586
Program Service Revenue from current yearUSD $ 2,510,163
Investment Income from prior yearUSD $ 1,278,102
Investment Income from current yearUSD $ 1,011,896
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 8,110,383
Net assets / fund balances at end of fiscal yearUSD $ 13,311,563
Net assets / fund balances at beginning of fiscal yearUSD $ 13,444,464
Total liabilities at end of fiscal yearUSD $ 79,586,847
Total liabilities at beginning of fiscal yearUSD $ 80,876,818
Total assets at end of fiscal yearUSD $ 92,898,410
Total assets at beginning of fiscal yearUSD $ 94,321,282
Revenues less expenses for current yearUSD $ 62,872
Revenues less expenses for previous yearUSD $ -68,114
Total expenses for current yearUSD $ 3,459,187
Total expenses for previous yearUSD $ 3,303,802
Other expenses in current yearUSD $ 2,105,593
Other expenses in previous yearUSD $ 1,942,863
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,353,594
Employee salary and benefits paid in previous yearUSD $ 1,360,939
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 3,522,059
Total revenue in previous fiscal yearUSD $ 3,235,688
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
Total of other revenueUSD $ 0
2015-12-31
Total unrelated business incomeUSD $ 49,780
Net unrelated business incomeUSD $ -10,781
Program Service Revenue from prior yearUSD $ 1,856,785
Program Service Revenue from current yearUSD $ 1,957,586
Investment Income from prior yearUSD $ 1,420,118
Investment Income from current yearUSD $ 1,278,102
Other Revenue from prior yearUSD $ 0
Other Revenue from current yearUSD $ 0
Gross receipts from all sourcesUSD $ 11,807,499
Net assets / fund balances at end of fiscal yearUSD $ 13,444,464
Net assets / fund balances at beginning of fiscal yearUSD $ 13,658,193
Total liabilities at end of fiscal yearUSD $ 80,876,818
Total liabilities at beginning of fiscal yearUSD $ 81,087,910
Total assets at end of fiscal yearUSD $ 94,321,282
Total assets at beginning of fiscal yearUSD $ 94,746,103
Revenues less expenses for current yearUSD $ -68,114
Revenues less expenses for previous yearUSD $ 212,426
Total expenses for current yearUSD $ 3,303,802
Total expenses for previous yearUSD $ 3,064,477
Other expenses in current yearUSD $ 1,942,863
Other expenses in previous yearUSD $ 1,663,748
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 1,360,939
Employee salary and benefits paid in previous yearUSD $ 1,400,729
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 3,235,688
Total revenue in previous fiscal yearUSD $ 3,276,903
Contributions and grants from current yearUSD $ 0
Contributions and grants from previous yearUSD $ 0
Total of other revenueUSD $ 0

Other Company Names associated with EIN

Credit Unions Chartered in the State of Michigan

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 381406340

USA Location Address
39139 MOUND ROAD
STERLING HEIGHTS
MI
48310
Date first seen: 2008-07-01
Date last seen: 2025-06-30
401k Sponsor USA Address
39139 MOUND ROAD
STERLING HEIGHTS
MI
48310
Date first seen: 2008-07-01
Date last seen: 2025-03-31

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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