Dec, 31, 2023 — FINANCIAL PLUS CREDIT UNION is a federally insured state chartered credit union headquartered in FLINT, MI with 12 branch locations and about $1.29 billion in total assets. Opened 72 years ago in 1952, FINANCIAL PLUS CREDIT UNION has about 81,895 members and employs 275 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIAL PLUS CREDIT UNION |
|---|---|
| Address: (Main Office) | G3381 Van Slyke Rd FLINT, MI 48507-3263 |
| Phone: | (810) 244-2200 |
| Fax: | (810) 244-2711 |
| Website: | https://www.myfpcu.com |
| Branches: | 12 branch locations |
| Members: | 81,895 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68646 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,286,739,109 |
| CEO/Manager: | Brad R Bergmooser |
| Chairperson: | Bernard Hennessy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 81,932,108 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 174,325 |
| Real Estate Loans | 400,818,489 |
| Unsecured Loans | 69,836,129 |
| Other Loans | 450,033,541 |
| TOTAL LOANS | 921,659,905 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,766,555 |
| Land And Building | 15,436,144 |
| Other Fixed Assets | 4,196,415 |
| NCUSIF Deposit | 10,116,729 |
| All Other Assets | 917,579 |
| TOTAL ASSETS | 1,286,739,109 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 77 |
| Notes & Interest Payable | 65,000,000 |
| Accounts Payable & Other Liabilities | 16,123,253 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 234,556,102 |
| Regular shares | 276,662,637 |
| All Other Shares & Deposits | 550,295,810 |
| TOTAL SHARES & DEPOSITS | 1,061,514,549 |
| TOTAL LIABILITIES | 1,142,750,941 |
| Regular Reserve | 0 |
| Other Reserves | 137,495,772 |
| Undivided Earnings | 6,492,396 |
| TOTAL EQUITY | 143,988,168 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,286,739,109 |
| INCOME & EXPENSE | |
| Loan Income | 49,018,538 |
| Investment Income | 8,823,234 |
| Other Income | 7,422,152 |
| Total Employee Compensation & Benefits | 23,325,777 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,027,728 |
| Non-operating Income & (Expense) | 8,479 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,439,218 |
| Cost of Funds | 11,956,805 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,468,879 |
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