Loc Credit Union
Farmington, MI · EIN 38-0549595 · Rank 19,028 by total revenue
To provide financial services to member owners
Money, Form 990 for tax year 2024
- Total revenue
- $22,216,364
- Total expenses
- $18,423,660
- Total assets
- $445,936,870
- Salary base (all salaries and wages)
- $5,958,643
- Salaries, other pay and benefits
- $7,798,769
- Employees
- 125
- Salary base per employee
- $47,669
"Salary base" is Form 990 Part IX lines 5 to 7. "Employees" is everyone who got a W-2 that year, full or part time. Form 990-EZ and 990-PF report pay differently; see About the data.
Leadership (16)
| Name | Title | Role | Hours/week | Total pay |
|---|---|---|---|---|
| Stephen P Grech | PRESIDENT/CEO | Officer | 40 | $344,037 |
| Jonathon Elliott | SENIOR EVP | Officer | 40 | $261,067 |
| Kari Ciaramitaro | EVP FINANCE | Officer | 40 | $216,079 |
| Christena Koester | EVP OPERATIONS AND TECHNOLOGY | Key employee | 40 | $242,524 |
| Michael Lasley | CHAIRPERSON | Board | 1 | None reported |
| Paul J Renko Jr | V. CHAIRPERSON | Board | 1 | None reported |
| Paul Hain | SECRETARY | Board | 1 | None reported |
| Dale Countegan | TREASURER | Board | 1 | None reported |
| Anne Schroeder | DIRECTOR | Board | 1 | None reported |
| Betty Richards | DIRECTOR | Board | 1 | None reported |
| David Drake | DIRECTOR | Board | 1 | None reported |
| Domenic Lauria | DIRECTOR | Board | 1 | None reported |
| Michael Connolly | DIRECTOR | Board | 1 | None reported |
| Natalie Clemons | DIRECTOR | Board | 1 | None reported |
| Patrick Monti | DIRECTOR | Board | 1 | None reported |
| Paul Wydendorf | DIRECTOR | Board | 1 | None reported |
Top 10 paid people listed
These 9 people received $1,922,068, which is 32.3% of the $5,958,643 salary base shared by 125 employees.
| Name | Title | Role | Hours/week | From this org | From related orgs | Other pay | Total |
|---|---|---|---|---|---|---|---|
| Stephen P Grech | PRESIDENT/CEO | Officer | 40 | $301,964 | $0 | $42,073 | $344,037 |
| Jonathon Elliott | SENIOR EVP | Officer | 40 | $224,438 | $0 | $36,629 | $261,067 |
| Christena Koester | EVP OPERATIONS AND TECHNOLOGY | Key employee | 40 | $186,525 | $0 | $55,999 | $242,524 |
| Kari Ciaramitaro | EVP FINANCE | Officer | 40 | $187,241 | $0 | $28,838 | $216,079 |
| Darin Bentley | VP & CHIEF INFORMATION OFFICER | Highly paid employee | 40 | $165,256 | $0 | $33,085 | $198,341 |
| William Cook | VP OF REAL ESTATE LENDING | Highly paid employee | 40 | $165,573 | $0 | $27,150 | $192,723 |
| Marc Buchanan | VP & CHIEF MARKETING/DIGITAL BANKING OFFICER | Highly paid employee | 40 | $151,671 | $0 | $19,508 | $171,179 |
| Kimberly Hagstrom | VP & CHIEF FINANCIAL OFFICER | Highly paid employee | 40 | $144,079 | $0 | $9,449 | $153,528 |
| John Scott | VP & CHIEF LENDING OFFICER | Highly paid employee | 40 | $118,404 | $0 | $24,186 | $142,590 |
Sources
- IRS e-file return 202503039349302200 (Form 990, period ending 2024-12-31): readable copy at ProPublica Nonprofit Explorer
- IRS Tax Exempt Organization Search for EIN 38-0549595
- Organization website (as filed): www.loccreditunion.com