Dec, 31, 2023 — AEROQUIP CREDIT UNION is a federally insured state chartered credit union headquartered in JACKSON, MI with 3 branch locations and about $50.98 million in total assets. Opened 75 years ago in 1949, AEROQUIP CREDIT UNION has about 3,899 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AEROQUIP CREDIT UNION |
|---|---|
| Address: (Main Office) | 901 Plymouth St JACKSON, MI 49201 |
| Phone: | (517) 789-2890 |
| Fax: | (517) 782-7607 |
| Website: | https://www.aeroquipcu.com |
| Branches: | 3 branch locations |
| Members: | 3,899 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61405 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Oct 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $50,976,032 |
| CEO/Manager: | Lisa K Robinson |
| Chairperson: | Linda K Way |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 495,021 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,426,759 |
| Unsecured Loans | 3,456,078 |
| Other Loans | 11,035,560 |
| TOTAL LOANS | 28,165,632 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -100,940 |
| Land And Building | 732,927 |
| Other Fixed Assets | 100,789 |
| NCUSIF Deposit | 433,739 |
| All Other Assets | 0 |
| TOTAL ASSETS | 50,976,032 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,750 |
| Notes & Interest Payable | 222,832 |
| Accounts Payable & Other Liabilities | 852,209 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,389,536 |
| Regular shares | 22,903,701 |
| All Other Shares & Deposits | 8,963,818 |
| TOTAL SHARES & DEPOSITS | 43,257,055 |
| TOTAL LIABILITIES | 44,335,846 |
| Regular Reserve | 0 |
| Other Reserves | 131,033 |
| Undivided Earnings | 6,509,153 |
| TOTAL EQUITY | 6,640,186 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 50,976,032 |
| INCOME & EXPENSE | |
| Loan Income | 1,303,108 |
| Investment Income | 368,540 |
| Other Income | 155,206 |
| Total Employee Compensation & Benefits | 883,726 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 998,500 |
| Non-operating Income & (Expense) | -10 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 83,214 |
| Cost of Funds | 52,497 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 198,359 |
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