Dec, 31, 2023 — H.P.C. CREDIT UNION is a federally insured state chartered credit union headquartered in ALPENA, MI with 4 branch locations and about $158.02 million in total assets. Opened 74 years ago in 1950, H.P.C. CREDIT UNION has about 7,310 members and employs 33 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | H.P.C. CREDIT UNION |
|---|---|
| Address: (Main Office) | 1234 W CHISHOLM ST ALPENA, MI 49707 |
| Phone: | (989) 354-4698 |
| Fax: | (989) 356-6912 |
| Website: | https://www.hpccu.com |
| Branches: | 4 branch locations |
| Members: | 7,310 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62219 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $158,020,212 |
| CEO/Manager: | DENNIS J WERNER |
| Chairperson: | JON BENSON |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,775,771 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 50,829,830 |
| Unsecured Loans | 3,380,500 |
| Other Loans | 23,729,683 |
| TOTAL LOANS | 78,019,152 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,147,359 |
| Land And Building | 1,898,269 |
| Other Fixed Assets | 331,817 |
| NCUSIF Deposit | 1,327,537 |
| All Other Assets | 0 |
| TOTAL ASSETS | 158,020,212 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 231,578 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,002,535 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 16,528,909 |
| Regular shares | 57,969,429 |
| All Other Shares & Deposits | 62,028,347 |
| TOTAL SHARES & DEPOSITS | 136,526,684 |
| TOTAL LIABILITIES | 137,760,797 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 20,259,415 |
| TOTAL EQUITY | 20,259,415 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 158,020,212 |
| INCOME & EXPENSE | |
| Loan Income | 3,338,577 |
| Investment Income | 1,598,393 |
| Other Income | 184,814 |
| Total Employee Compensation & Benefits | 2,081,212 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,000,636 |
| Non-operating Income & (Expense) | 825 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 226,718 |
| Cost of Funds | 1,010,556 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 110,506 |
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