Dec, 31, 2023 — DORT FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND BLANC, MI with 16 branch locations and about $2.34 billion in total assets. Opened 73 years ago in 1951, DORT FINANCIAL CREDIT UNION has about 113,143 members and employs 370 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DORT FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9048 HOLLY RD GRAND BLANC, MI 48439 |
| Phone: | (810) 767-8390 |
| Fax: | (810) 767-6633 |
| Website: | https://dortonline.org |
| Branches: | 16 branch locations |
| Members: | 113,143 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68708 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,343,198,789 |
| CEO/Manager: | BRIAN WALDRON |
| Chairperson: | WAYNE NATZKE |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 234,949,986 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 123,000 |
| Real Estate Loans | 948,744,445 |
| Unsecured Loans | 163,036,838 |
| Other Loans | 590,790,205 |
| TOTAL LOANS | 1,702,571,488 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,430,648 |
| Land And Building | 31,781,315 |
| Other Fixed Assets | 4,387,205 |
| NCUSIF Deposit | 16,864,049 |
| All Other Assets | 992,696 |
| TOTAL ASSETS | 2,343,198,789 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 505,086 |
| Notes & Interest Payable | 120,000,000 |
| Accounts Payable & Other Liabilities | 26,455,773 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 362,676,571 |
| Regular shares | 287,585,759 |
| All Other Shares & Deposits | 1,338,131,892 |
| TOTAL SHARES & DEPOSITS | 1,988,394,223 |
| TOTAL LIABILITIES | 2,135,355,082 |
| Regular Reserve | 0 |
| Other Reserves | -14,534,840 |
| Undivided Earnings | 222,378,547 |
| TOTAL EQUITY | 207,843,707 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,343,198,789 |
| INCOME & EXPENSE | |
| Loan Income | 76,047,000 |
| Investment Income | 6,892,887 |
| Other Income | 8,710,238 |
| Total Employee Compensation & Benefits | 25,002,167 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 33,671,991 |
| Non-operating Income & (Expense) | 1,243,241 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,680,068 |
| Cost of Funds | 26,944,387 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 11,332,281 |
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