Dec, 31, 2023 — I.M. DETROIT DISTRICT CREDIT UNION is a federally insured state chartered credit union headquartered in DETROIT, MI with 2 branch locations and about $1.62 million in total assets. Opened 67 years ago in 1957, I.M. DETROIT DISTRICT CREDIT UNION has about 32 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | I.M. DETROIT DISTRICT CREDIT UNION |
|---|---|
| Address: (Main Office) | 2101 Gratiot Ave DETROIT, MI 48207-2709 |
| Phone: | (313) 259-5817 |
| Fax: | (313) 259-7077 |
| Website: | n/a |
| Branches: | 2 branch locations |
| Members: | 32 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62167 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $1,623,320 |
| CEO/Manager: | Clorine D Parker |
| Chairperson: | Kenneth L Hollowell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 571,143 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 899 |
| Other Loans | 15,937 |
| TOTAL LOANS | 16,836 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -252 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 3,873 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,623,320 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,301 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,224,449 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 1,224,449 |
| TOTAL LIABILITIES | 1,227,750 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 395,570 |
| TOTAL EQUITY | 395,570 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,623,320 |
| INCOME & EXPENSE | |
| Loan Income | 1,067 |
| Investment Income | 37,180 |
| Other Income | 21,653 |
| Total Employee Compensation & Benefits | 0 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,419 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 631 |
| Cost of Funds | 2,891 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 46,520 |
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