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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Loc Credit Union

Loc Credit Union

Fiscal year ending 2022. Filed on November 6, 2023.

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 2022 IRS Form 990 filing, Loc Credit Union, a 501(c)(14) state-chartered credit union or mutual reserve fund, reported compensation for 4 out of 99 total employees. Among the employees shown here, the average compensation is $169,559. The highest compensated employee at Loc Credit Union is Jon Elliott with fiscal year 2022 compensation of $250,390. Loc Credit Union changed its name from Memberfocus Community Credit Union in 2022.

Revenue, expenses, and employee compensation

Revenue

$12,123,686

Expenses

$8,405,776

Employee compensation

$4,206,407
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Jon Elliott
Senior Executive Vice President
$250,390
$210,654 No related comp$39,736
Christena Koester
Executive Vice President Operations and Technology
$172,258
$145,407 No related comp$26,851
Stephen P Grech
President and Chief Executive Officer
$148,700
$126,594 No related comp$22,106
Kari Ciaramitaro
Executive Vice President, Finance
$106,886
$90,431 No related comp$16,455

Benchmark Employee Compensation

Non-Employee Board Members

Ann Schroeder
Director
Betty Richards
Director
Charles Lacey
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

Contractors

Mdt
Data Processing
$633,426
Cooperative Financial Services
Card Processing
$371,055
Alkami
Digital Banking
$203,396
Visa USA Inc.
ATM/Debit/Credit Network
$131,617
Cu Solutions
Marketing/Loan and New Account Software
$113,199

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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