Dec, 31, 2023 — EXTRA CREDIT UNION is a federally insured state chartered credit union headquartered in WARREN, MI with 2 branch locations and about $311.72 million in total assets. Opened 70 years ago in 1954, EXTRA CREDIT UNION has about 18,908 members and employs 90 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | EXTRA CREDIT UNION |
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Address: (Main Office) | 6611 Chicago Rd WARREN, MI 48092-1685 |
Phone: | (586) 276-3000 |
Fax: | (586) 276-3001 |
Website: | https://www.extracreditunion.org |
Branches: | 2 branch locations |
Members: | 18,908 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60428 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $311,717,529 |
CEO/Manager: | Deidra M Williams |
Chairperson: | Anne Covert |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,952,029 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 78,013,707 |
Unsecured Loans | 42,791,113 |
Other Loans | 60,222,757 |
TOTAL LOANS | 181,058,563 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,760,415 |
Land And Building | 4,638,677 |
Other Fixed Assets | 1,912,766 |
NCUSIF Deposit | 2,745,040 |
All Other Assets | 49,071 |
TOTAL ASSETS | 311,717,529 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,758,483 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 62,265,858 |
Regular shares | 114,508,557 |
All Other Shares & Deposits | 94,535,350 |
TOTAL SHARES & DEPOSITS | 271,309,765 |
TOTAL LIABILITIES | 274,068,248 |
Regular Reserve | 0 |
Other Reserves | -7,576,216 |
Undivided Earnings | 45,225,497 |
TOTAL EQUITY | 37,649,281 |
TOTAL LIABILITIES, SHARES, & EQUITY | 311,717,529 |
INCOME & EXPENSE | |
Loan Income | 14,702,553 |
Investment Income | 2,218,587 |
Other Income | 3,853,676 |
Total Employee Compensation & Benefits | 8,184,544 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,854,495 |
Non-operating Income & (Expense) | -75,329 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,921,498 |
Cost of Funds | 1,176,920 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 5,005,626 |
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