True Community Credit Union: Nonprofit Profile, Financials & Form 990 (EIN 38-1453620)

Revenue by fiscal year
FY2021	$30.3M
FY2022	$35.3M
FY2023	$42.9M
FY2024	$67.6M

Expenses by fiscal year
FY2021	$26.2M
FY2022	$31.6M
FY2023	$38.6M
FY2024	$64.4M

Net assets by fiscal year
FY2021	$65.9M
FY2022	$62.4M
FY2023	$68.7M
FY2024	$90.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1956.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

28 people listed on the 990; $3.3M paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation

Christina Siders

President/CEO

$541,110Pt VII · Sec A

Janet Thompson

EVP/Chief Integration Officer

$311,615Pt VII · Sec A

Jason Matley

EVP/Chief Strategy Officer

$286,227Pt VII · Sec A

Valerie Moskal

Chief Growth & Lending Officer

$279,553Pt VII · Sec A

Terry French

Investment Advisor

$258,297Pt VII · Sec A

Lance Schnitkey

Chief Financial Officer

$246,915Pt VII · Sec A

Sarah Ermatinger

Chief Community Impact Officer

$222,601Pt VII · Sec A

Jonathan Beard

VP of Digital Transformati

$205,555Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021
Christina Siders	$541,110	$356,270	$368,864	$323,615
Janet Thompson	$311,615	—	—	—
Jason Matley	$286,227	$239,242	$232,380	$201,710
Valerie Moskal	$279,553	$231,813	$223,291	—
Terry French	$258,297	$200,733	$222,769	$214,936
Lance Schnitkey	$246,915	$177,447	$169,122	$142,718
Sarah Ermatinger	$222,601	$183,907	$182,044	$168,753
Jonathan Beard	$205,555	$146,989	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See True Community Credit Union executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes
Loans to or from officersSch L · Pt II2 listed

Programs and updates

Creates lasting, impactful experiences for people and places, ensuring a positive future.

Questions for True Community Credit Union

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Your first name shows with your question. True Community Credit Union answers here, for everyone.

1 program · in their own filed words · FY2024

01

True community credit union provides a spectrum of deposit and loan products for our members and provides financial education for the community to cultivate the legacy-defining moments for those we serve.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 38-1453620) · Dispute this line

Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2022

Michigan Credit Union FoundationFY2022$7K

Total grants receivedfrom 1 funder$7K

Grants paid · 34 grants · $538K · 2023–2024

Found ChurchFY2024$35,000

Jackson School of the Arts AssociationMI · FY2024$33,333

Jackson Y-Center INCMI · FY2024$26,000

Spring Arbor UniversityMI · FY2024$20,000

Nuestra ComunidadMI · FY2024$20,000

Jackson College Multicultural AffairsFY2024$20,000

Henry Ford JacksonMI · FY2024$18,500

New Mobility SolutionsFY2024$18,123

Enterprise Group Community Ventures CorporationMI · FY2024$15,000

Michigan Credit Union LeagueMI · FY2024$15,000

Jackson County Chamber of Commerce INCNC · FY2024$14,550

Grow JacksonMI · FY2024$10,600

Unitemized GrantFY2024$10,000

Rise AboveMI · FY2024$10,000

American Heart Association INCTX · FY2024$10,000

Jackson Symphony OrchestraFY2024$8,000

Michigan TribeMI · FY2024$7,500

United Way of South Central MiMI · FY2024$6,000

See all 34 grants →

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$67.6M

Ln 12

Fees for servicesLn 2g$64.1M

Investment incomeLn 3$3.5M

Gifts and grantsLn 1h$5K

Money outPt IX

$64.4M

Ln 25

Owns and owesPt X

$90.5M

net assets · Ln 32

Cash and savingsLn 1–2$61.5M

Total assetsLn 16$880.5M

LiabilitiesLn 26$790.0M

PeoplePt VI, VII

28

listed · VII A

PaidVII A20

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5K

Fees for servicesLn 2g$64.1M

Investment incomeLn 3$3.5M

Other incomeLn 4–11$4K

Gains on assetsLn 7−$2.0M

Total revenueLn 12$67.6M

Assets in detailPt X, end of year

CashLn 1$12.1M

SavingsLn 2$49.4M

Cash and savings togetherLn 1–2$61.5M

Accounts receivableLn 4$11.4M

Loans to officers and key peopleLn 5$5.3M

Notes and loans receivableLn 7$680.9M

Prepaid expenses and deferred chargesLn 9$18.1M

Land, buildings, equipmentLn 10c$14.3M

InvestmentsLn 11–13$71.5M

Intangible assetsLn 14$4.7M

Other assetsLn 15$12.9M

Total assetsLn 16$880.5M

LiabilitiesLn 26$790.0M

Net assetsLn 32$90.5M

OperationsPt I, VI

EmployeesI 5226

VolunteersI 618

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$26.6M	$61.5M
InvestmentsLn 11–13	$65.3M	$71.5M
Land, buildings, equipmentLn 10c	$10.1M	$14.3M
Total assetsLn 16	$703.1M	$880.5M
LiabilitiesLn 26	$634.4M	$790.0M
Net assetsLn 32	$68.7M	$90.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$419K
Grants to domestic individualsLn 2	$10K
Pay of officers and key staff (Part IX, line 5)Ln 5	$2.5M
Other salaries and wagesLn 7	$16.2M
Pension plan contributionsLn 8	$1.6M
Other employee benefitsLn 9	$2.2M
Payroll taxesLn 10	$1.4M
Legal feesLn 11b	$238K
Accounting feesLn 11c	$491K
Other fees for servicesLn 11g	$2.0M
Advertising and promotionLn 12	$1.6M
Office expensesLn 13	$3.3M
OccupancyLn 16	$1.4M
TravelLn 17	$160K
Conferences, conventions and meetingsLn 19	$509K
InterestLn 20	$7.5M
Payments to affiliatesLn 21	$35K
Depreciation, depletion and amortizationLn 22	$2.3M
InsuranceLn 23	$366K
Other expenses (24a–d)Ln 24	$17.0M
All other expensesLn 24e	$3.1M
Total functional expensesLn 25	$64.4M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Nov 14, 2025	$67.6M	$64.4M	$3.2M	$90.5M	990 PDF
FY2023Filed with the IRS Nov 13, 2024	$42.9M	$38.6M	$4.4M	$68.7M	990 PDF
FY2022Filed with the IRS Oct 25, 2023	$35.3M	$31.6M	$3.7M	$62.4M	990 PDF
FY2021Filed with the IRS Nov 1, 2022	$30.3M	$26.2M	$4.1M	$65.9M	990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay O · Explanations

See the full FY2024 990

Part I · Summary $67,574,993 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$5,000

I-9 Program service revenuePrior year $40,615,233$64,116,283

I-10 Investment incomePrior year $2,311,013$3,450,171

I-11 Other revenuePrior year $0$3,539

I-12 Total revenuePrior year $42,926,246$67,574,993

I-13 Grants and similar amounts paidPrior year $332,034$429,402

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $17,668,356$23,933,803

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $20,572,458$40,031,970

I-18 Total expensesPrior year $38,572,848$64,395,175

I-19 Revenue less expensesPrior year $4,353,398$3,179,818

Part VI · Governance 9 of 9 board members independent, 1 to look at

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

VI-13 Written whistleblower policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $67,574,993 across 7 lines filed

VIII-1f All other contributions, gifts and grants$5,000

VIII-1h Total contributions, gifts and grants$5,000

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $63,872,719 · Unrelated business $243,564$64,116,283

VIII-3 Investment incomeExcluded from tax $5,476,150$5,476,150

VIII-6 Net rental income or lossRelated to mission $3,539$3,539

VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,025,979−$2,025,979

VIII-12 Total revenueRelated to mission $61,850,279 · Unrelated business $243,564 · Excluded from tax $5,476,150$67,574,993

Part IX · Statement of functional expenses $64,395,175 across 21 lines filed

IX-1 Grants to domestic organizations$419,402

IX-2 Grants to domestic individuals$10,000

IX-5 Pay of officers and key staff (Part IX, line 5)$2,523,368

IX-7 Other salaries and wages$16,188,119

IX-8 Pension plan contributions$1,636,971

IX-9 Other employee benefits$2,234,129

IX-10 Payroll taxes$1,351,216

IX-11b Legal fees$238,015

IX-11c Accounting fees$490,970

IX-11g Other fees for services$2,007,699

IX-12 Advertising and promotion$1,569,132

IX-13 Office expenses$3,337,358

IX-16 Occupancy$1,393,512

IX-17 Travel$159,947

IX-19 Conferences, conventions and meetings$509,116

IX-20 Interest$7,510,340

IX-21 Payments to affiliates$35,498

IX-22 Depreciation, depletion and amortization$2,308,068

IX-23 Insurance$365,800

IX-24 Other expenses (24a–d)$17,026,036

IX-24e All other expenses$3,080,479

IX-25 Total functional expenses$64,395,175

Part X · Balance sheet $880,536,100 assets, 21 lines filed

X-1 Cash, non-interest-bearingStart of year $5,823,260$12,148,495

X-2 Savings and temporary cash investmentsStart of year $20,733,733$49,389,311

X-4 Accounts receivableStart of year $1,768,078$11,435,980

X-5 Loans to officers and key peopleStart of year $3,229,034$5,266,694

X-7 Notes and loans receivableStart of year $571,124,251$680,874,042

X-9 Prepaid expenses and deferred chargesStart of year $14,721,095$18,058,015

X-10c Land, buildings and equipment, netStart of year $10,088,799$14,255,470

X-11 Publicly traded securitiesStart of year $61,847,289$68,245,530

X-12 Other securitiesStart of year $3,491,551$3,261,106

X-14 Intangible assetsStart of year $178,300$4,654,557

X-15 Other assetsStart of year $10,068,336$12,946,900

X-16 Total assetsStart of year $703,073,726$880,536,100

X-17 Accounts payable and accrued expensesStart of year $5,539,523$10,242,342

X-23 Secured mortgages and notes payableStart of year $20,000,000$20,000,000

X-25 Other liabilitiesStart of year $608,852,193$759,772,895

X-26 Total liabilitiesStart of year $634,391,716$790,015,237

X-29 Capital stock or trust principalStart of year $0$0

X-30 Paid-in or capital surplusStart of year $0$0

X-31 Retained earnings or endowmentStart of year $68,682,010$90,520,863

X-32 Total net assets or fund balancesStart of year $68,682,010$90,520,863

X-33 Total liabilities and net assetsStart of year $703,073,726$880,536,100

Part XI · Reconciliation of net assets $90,520,863 net assets at year end

XI-1 Total revenue$67,574,993

XI-2 Total expenses$64,395,175

XI-3 Revenue less expenses$3,179,818

XI-4 Net assets at start of year$68,682,010

XI-5 Net unrealized gains (losses) on investments$1,347,625

XI-9 Other changes in net assets$17,311,410

XI-10 Net assets at end of year$90,520,863

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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