ALLEGAN COMMUNITY FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.allegancu.com for more information.
Dec, 31, 2023 — ALLEGAN COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in ALLEGAN, MI with 3 branch locations and about $82.23 million in total assets. Opened 79 years ago in 1945, ALLEGAN COMMUNITY FEDERAL CREDIT UNION has about 8,769 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ALLEGAN COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | P. O. BOX 320 ALLEGAN, MI 49010 |
| Phone: | (269) 673-5465 |
| Fax: | (269) 673-4298 |
| Website: | https://www.allegancu.com |
| Branches: | 3 branch locations |
| Members: | 8,769 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5185 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1945 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $82,231,285 |
| CEO/Manager: | Kristopher Lewis |
| Chairperson: | Lori Drozd |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,200,177 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,146,775 |
| Unsecured Loans | 3,282,289 |
| Other Loans | 26,270,960 |
| TOTAL LOANS | 50,700,024 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -315,533 |
| Land And Building | 976,278 |
| Other Fixed Assets | 155,724 |
| NCUSIF Deposit | 648,844 |
| All Other Assets | 4,080 |
| TOTAL ASSETS | 82,231,285 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23,854 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,543,740 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,211,138 |
| Regular shares | 32,695,790 |
| All Other Shares & Deposits | 20,808,393 |
| TOTAL SHARES & DEPOSITS | 72,715,321 |
| TOTAL LIABILITIES | 74,282,915 |
| Regular Reserve | 0 |
| Other Reserves | -196,163 |
| Undivided Earnings | 8,144,533 |
| TOTAL EQUITY | 7,948,370 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 82,231,285 |
| INCOME & EXPENSE | |
| Loan Income | 641,251 |
| Investment Income | 50,618 |
| Other Income | 180,376 |
| Total Employee Compensation & Benefits | 438,351 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 511,381 |
| Non-operating Income & (Expense) | -6,204 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,978 |
| Cost of Funds | 25,665 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,028,057 |
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