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Credit Unions Chartered In The State Of Michigan

1130 The Local Credit Union

Organization summary

Type of Nonprofit

Designated as a State-chartered credit unions and mutual reserve funds.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2024 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$5.65M (2024)

Expenses
$5.35M (2024)

Total Assets
$103M (2024)

Total Liabilities
$89M (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,651,272
Expenses
$5,350,420
Net Income
$300,852
Net Assets
$13,861,709
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $4,310,243
76.3%
Investment Income $1,345,106
23.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$4,077
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $506,896
9.5%
Professional Fundraising Fees $0
Other Salaries and Wages $889,780
16.6%
Assets/Debt
Total Assets $102,891,778
Total Liabilities $89,030,069
Net Assets $13,861,709
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joe Hallman (Presidentceo) $214,426 $0 $45,942
Sherry Lawfield (Vp Retail Operations) $110,074 $0 $20,876
Roy Macdonald (Lending Manager) $96,033 $0 $19,148
H Frank Voelker (Accounting Manager) $86,363 $0 $18,286
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (Vice Chairperson) $0 $0 $0
Nicole Dida (Treasurer) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
John Liss (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
David Bryant (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,229,098
Expenses
$5,061,470
Net Income
$167,628
Net Assets
$12,592,508
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $4,126,376
78.9%
Investment Income $1,105,091
21.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$2,369
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $354,718
7.0%
Professional Fundraising Fees $0
Other Salaries and Wages $977,332
19.3%
Assets/Debt
Total Assets $106,015,170
Total Liabilities $93,422,662
Net Assets $12,592,508
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $209,177 $0 $43,458
Sherry Lawfield (Vp Retail Operations) $107,356 $0 $19,956
H Frank Voelker Ii (Accounting Manager) $84,707 $0 $17,376
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
John Liss (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
David Bryant (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,896,131
Expenses
$4,552,199
Net Income
$343,932
Net Assets
$11,762,814
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,953,282
80.7%
Investment Income $945,488
19.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$2,639
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $342,770
7.5%
Professional Fundraising Fees $0
Other Salaries and Wages $898,948
19.7%
Assets/Debt
Total Assets $107,543,903
Total Liabilities $95,781,089
Net Assets $11,762,814
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $205,295 $0 $42,635
Sherry Lawfield (Vp Retail Operations) $103,232 $0 $19,019
H Frank Voelker Ii (Accounting Manager) $78,233 $0 $16,607
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
John Liss (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,726,169
Expenses
$4,435,369
Net Income
$290,800
Net Assets
$14,922,943
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,899,245
82.5%
Investment Income $828,885
17.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$1,961
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $329,982
7.4%
Professional Fundraising Fees $0
Other Salaries and Wages $884,270
19.9%
Assets/Debt
Total Assets $111,102,892
Total Liabilities $96,179,949
Net Assets $14,922,943
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $198,766 $0 $41,509
H Frank Voelker Ii (Accounting Manager) $73,766 $0 $15,941
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
John Liss (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,603,095
Expenses
$4,402,458
Net Income
$200,637
Net Assets
$15,635,581
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,821,035
83.0%
Investment Income $774,601
16.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $7,459
0.2%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $323,914
7.4%
Professional Fundraising Fees $0
Other Salaries and Wages $764,578
17.4%
Assets/Debt
Total Assets $108,248,779
Total Liabilities $92,613,198
Net Assets $15,635,581
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $194,047 $0 $41,282
Sherry Lawfield (Vice President Of Retail Operations) $100,012 $0 $18,841
H Frank Voelker Ii (Accounting Manager) $72,768 $0 $15,817
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
John Liss (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,809,238
Expenses
$4,466,724
Net Income
$342,514
Net Assets
$14,799,868
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,929,406
81.7%
Investment Income $887,155
18.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$7,323
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $313,801
7.0%
Professional Fundraising Fees $0
Other Salaries and Wages $769,792
17.2%
Assets/Debt
Total Assets $96,044,155
Total Liabilities $81,244,287
Net Assets $14,799,868
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $186,902 $0 $40,874
H Frank Voelker Ii (Accounting Manager) $70,347 $0 $15,678
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
John Liss (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,604,765
Expenses
$4,333,298
Net Income
$271,467
Net Assets
$13,591,649
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,764,055
81.7%
Investment Income $837,760
18.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $2,950
0.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $299,925
6.9%
Professional Fundraising Fees $0
Other Salaries and Wages $821,459
19.0%
Assets/Debt
Total Assets $90,749,164
Total Liabilities $77,157,515
Net Assets $13,591,649
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $178,688 $0 $39,041
H Frank Voelker Ii (Accounting Manager) $67,281 $0 $14,915
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0
John Liss (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,326,376
Expenses
$4,005,724
Net Income
$320,652
Net Assets
$13,714,109
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $3,353,419
77.5%
Investment Income $913,367
21.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $59,590
1.4%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $288,382
7.2%
Professional Fundraising Fees $0
Other Salaries and Wages $785,413
19.6%
Assets/Debt
Total Assets $92,953,529
Total Liabilities $79,239,420
Net Assets $13,714,109
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $169,683 $0 $37,004
H Frank Voelker Ii (Accounting Manager) $67,277 $0 $14,418
Joseph Cusenza (Chairperson) $0 $0 $0
Jimmie Cole (V. Chairperson) $0 $0 $0
Nicole Didia (Treasurer) $0 $0 $0
Kenneth Jurinic (Secretary) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Michael Wagner (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,522,059
Expenses
$3,459,187
Net Income
$62,872
Net Assets
$13,311,563
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,510,163
71.3%
Investment Income $1,001,810
28.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $10,086
0.3%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $262,200
7.6%
Professional Fundraising Fees $0
Other Salaries and Wages $732,950
21.2%
Assets/Debt
Total Assets $92,898,410
Total Liabilities $79,586,847
Net Assets $13,311,563
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $153,133 $0 $34,091
H Frank Voelker Ii (Accounting Manager) $61,637 $0 $13,339
Joe Cusenza (Chairperson) $0 $0 $0
Al Badalamento (Vice Chairperson) $0 $0 $0
Nicole Didia (Secretary) $0 $0 $0
Jim Cole (Treasurer) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Kenneth Jurinic (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,235,688
Expenses
$3,303,802
Net Income
-$68,114
Net Assets
$13,444,464
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,957,586
60.5%
Investment Income $1,190,584
36.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $87,518
2.7%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $254,333
7.7%
Professional Fundraising Fees $0
Other Salaries and Wages $718,767
21.8%
Assets/Debt
Total Assets $94,321,282
Total Liabilities $80,876,818
Net Assets $13,444,464
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $147,986 $0 $31,227
H Frank Voelker Ii (Accounting Manager) $62,285 $0 $12,835
Joe Cusenza (Chairperson) $0 $0 $0
Al Badalamento (Vice Chairperson) $0 $0 $0
Jim Cole (Treasurer) $0 $0 $0
Nicole Didia (Secretary) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Jesse Carthen (Director Until Oct 2015) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0
Kenneth Jurinic (Director From Dec 2015) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,276,903
Expenses
$3,064,477
Net Income
$212,426
Net Assets
$13,658,193
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,856,785
56.7%
Investment Income $1,447,974
44.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$27,856
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $377,756
12.3%
Professional Fundraising Fees $0
Other Salaries and Wages $685,927
22.4%
Assets/Debt
Total Assets $94,746,103
Total Liabilities $81,087,910
Net Assets $13,658,193
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $145,056 $0 $30,877
Julie De Hem (Coo (Until Nov. 2014)) $101,262 $0 $28,512
H Frank Voelker Ii (Accounting Manager) $59,220 $0 $12,829
Joe Cusenza (Chairperson) $0 $0 $0
Al Badalamento (Vice Chairperson) $0 $0 $0
Jim Cole (Treasurer) $0 $0 $0
Nicole Didia (Secretary) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Jesse Carthen (Director) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,744,875
Expenses
$3,349,192
Net Income
$395,683
Net Assets
$11,860,706
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,882,545
50.3%
Investment Income $2,025,180
54.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$162,850
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $272,478
8.1%
Professional Fundraising Fees $0
Other Salaries and Wages $691,151
20.6%
Assets/Debt
Total Assets $98,298,295
Total Liabilities $86,437,589
Net Assets $11,860,706
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joseph Hallman (President/Ceo) $115,700 $0 $17,023
Julie De Hem (Coo) $103,859 $0 $27,915
James Bonaventura (Acting Ceo Until 2/22/2014) $7,981 $0 $0
Joe Cusenza (Chairperson) $0 $0 $0
Al Badalamento (Vice Chairman) $0 $0 $0
Jim Cole (Treasurer) $0 $0 $0
Nicole Didia (Secretary) $0 $0 $0
Carl Malfitano (Director) $0 $0 $0
Jesse Carthen (Director) $0 $0 $0
Robert Gowatch (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,498,516
Expenses
$3,740,107
Net Income
$758,409
Net Assets
$13,470,454
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,888,031
42.0%
Investment Income $2,141,821
47.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $468,664
10.4%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $234,297
6.3%
Professional Fundraising Fees $0
Other Salaries and Wages $728,475
19.5%
Assets/Debt
Total Assets $105,828,963
Total Liabilities $92,358,509
Net Assets $13,470,454

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,561,759
Expenses
$3,919,079
Net Income
$642,680
Net Assets
$11,275,128
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,925,145
42.2%
Investment Income $2,617,680
57.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $18,934
0.4%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $221,202
5.6%
Professional Fundraising Fees $0
Other Salaries and Wages $729,865
18.6%
Assets/Debt
Total Assets $103,322,158
Total Liabilities $92,047,030
Net Assets $11,275,128

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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