Dec, 31, 2023 — BIRMINGHAM-BLOOMFIELD CREDIT UNION is a federally insured state chartered credit union headquartered in AUBURN HILLS, MI with 8 branch locations and about $367.76 million in total assets. Opened 93 years ago in 1931, BIRMINGHAM-BLOOMFIELD CREDIT UNION has about 24,611 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BIRMINGHAM-BLOOMFIELD CREDIT UNION |
|---|---|
| Address: (Main Office) | 3501 Hamlin Rd AUBURN HILLS, MI 48326 |
| Phone: | (248) 206-2763 |
| Fax: | |
| Website: | https://www.michiganunitedcu.org |
| Branches: | 8 branch locations |
| Members: | 24,611 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61698 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $367,759,705 |
| CEO/Manager: | Andrew Staley |
| Chairperson: | Richard Perry |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,156,366 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 55,371,262 |
| Unsecured Loans | 11,488,793 |
| Other Loans | 157,197,304 |
| TOTAL LOANS | 224,176,823 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -699,281 |
| Land And Building | 5,254,488 |
| Other Fixed Assets | 815,551 |
| NCUSIF Deposit | 3,207,997 |
| All Other Assets | 0 |
| TOTAL ASSETS | 367,759,705 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,276,919 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 61,914,638 |
| Regular shares | 123,231,881 |
| All Other Shares & Deposits | 145,780,002 |
| TOTAL SHARES & DEPOSITS | 330,926,524 |
| TOTAL LIABILITIES | 333,203,443 |
| Regular Reserve | 0 |
| Other Reserves | 23,707,549 |
| Undivided Earnings | 10,848,713 |
| TOTAL EQUITY | 34,556,262 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 367,759,705 |
| INCOME & EXPENSE | |
| Loan Income | 9,327,607 |
| Investment Income | 2,355,254 |
| Other Income | 990,326 |
| Total Employee Compensation & Benefits | 5,692,878 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,539,135 |
| Non-operating Income & (Expense) | -12,196 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 153,566 |
| Cost of Funds | 2,338,550 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,618,872 |
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