Dec, 31, 2023 — FAMILY FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in NORTON SHORES, MI with 4 branch locations and about $152.91 million in total assets. Opened 65 years ago in 1959, FAMILY FINANCIAL CREDIT UNION has about 16,799 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FAMILY FINANCIAL CREDIT UNION |
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Address: (Main Office) | 3575 Henry St NORTON SHORES, MI 49441 |
Phone: | (231) 733-4600 |
Fax: | (231) 733-1631 |
Website: | https://www.ff-cu.org |
Branches: | 4 branch locations |
Members: | 16,799 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61633 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $152,909,305 |
CEO/Manager: | Deb Dietz |
Chairperson: | Kevin Huss |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,281,447 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 31,593,475 |
Unsecured Loans | 5,579,394 |
Other Loans | 62,855,866 |
TOTAL LOANS | 100,028,734 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -239,386 |
Land And Building | 3,701,498 |
Other Fixed Assets | 955,524 |
NCUSIF Deposit | 1,361,760 |
All Other Assets | 0 |
TOTAL ASSETS | 152,909,305 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 45,133 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,997,261 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 21,521,617 |
Regular shares | 57,453,658 |
All Other Shares & Deposits | 55,845,673 |
TOTAL SHARES & DEPOSITS | 134,820,947 |
TOTAL LIABILITIES | 136,863,341 |
Regular Reserve | 0 |
Other Reserves | -2,124,734 |
Undivided Earnings | 18,170,698 |
TOTAL EQUITY | 16,045,964 |
TOTAL LIABILITIES, SHARES, & EQUITY | 152,909,305 |
INCOME & EXPENSE | |
Loan Income | 4,777,150 |
Investment Income | 1,091,758 |
Other Income | 1,488,200 |
Total Employee Compensation & Benefits | 2,644,501 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,260,133 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 118,747 |
Cost of Funds | 870,872 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 833,578 |
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