Compensation 990

Loc Credit Union

Fiscal year ending 2024. Filed on October 30, 2025.

22981 Farmington Road
Farmington, Michigan 48336

Loc Credit Union (EIN: 38-0549595) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, Loc Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 9 out of 125 total employees. Among the employees shown here, the average compensation is $213,563. The highest compensated employee at Loc Credit Union is Stephen P Grech with fiscal year 2024 compensation of $344,037. Loc Credit Union changed its name from Memberfocus Community Credit Union in 2022.

Revenue, expenses, and employee compensation

Revenue

$22,216,364

Expenses

$18,423,660

Employee compensation

$7,798,769
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

－1.0%vs 2023
Stephen P Grech
President and Chief Executive Officer
$344,037
$301,964 from orgNo related comp$42,073 other
－2.2%vs 2023
Jonathon Elliott
Senior Executive Vice President
$261,067
$224,438 from orgNo related comp$36,629 other
＋15.3%vs 2023
Christena Koester
Executive Vice President Operations and Technology
$242,524
$186,525 from orgNo related comp$55,999 other
＋1.8%vs 2023
Kari Ciaramitaro
Executive Vice President, Finance
$216,079
$187,241 from orgNo related comp$28,838 other
＋4.9%vs 2023
Darin Bentley
Vice President and Chief Information Officer
$198,341
$165,256 from orgNo related comp$33,085 other
＋5.0%vs 2023
William Cook
Vice President of REAL Estate Lending
$192,723
$165,573 from orgNo related comp$27,150 other
＋12.4%vs 2023
Marc Buchanan
Vice President and Chief Marketing/Digital Banking Officer
$171,179
$151,671 from orgNo related comp$19,508 other
－1.4%vs 2023
Kimberly Hagstrom
Vice President and Chief Financial Officer
$153,528
$144,079 from orgNo related comp$9,449 other
New in 2024
John Scott
Vice President and Chief Lending Officer
$142,590
$118,404 from orgNo related comp$24,186 other

Non-Employee Board Members

Anne Schroeder
Director
Betty Richards
Director
Dale Countegan
Treasurer
David Drake
Director
Domenic Lauria
Director
Michael Connolly
Director
Michael Lasley
Chair
Natalie Clemons
Director
Patrick Monti
Director
Paul Hain
Secretary
Paul J Renko Jr
Vice Chair
Paul Wydendorf
Director

Mission Statement

WE OFFER A COMMITTMENT TO OUR MEMBERS TO PROVIDE QUALITY FINANCIAL SERVICES IN A FRIENDLY MANNER WITH SOUND PROFESSIONAL LEADERSHIP.

Revisions to this organization profile

October 30, 2025:
2024 Loc Credit Union 990 filed
September 13, 2024:
2023 Loc Credit Union 990 filed
November 6, 2023:
2022 Loc Credit Union 990 filed

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