Dec, 31, 2023 — LATVIAN HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND RAPIDS, MI with 2 branch locations and about $3.19 million in total assets. Opened 61 years ago in 1963, LATVIAN HERITAGE FEDERAL CREDIT UNION has about 390 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LATVIAN HERITAGE FEDERAL CREDIT UNION |
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Address: (Main Office) | PO Box 152125 GRAND RAPIDS, MI 49515-2125 |
Phone: | (616) 454-8012 |
Fax: | |
Website: | https://www.latvianheritage.org |
Branches: | 2 branch locations |
Members: | 390 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15779 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $3,189,160 |
CEO/Manager: | Ivars Petrovskis |
Chairperson: | Tracy Wood |
ASSETS: | $ Amount |
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Cash & Equivalents | 70,658 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,862,721 |
Unsecured Loans | 85,612 |
Other Loans | 55,083 |
TOTAL LOANS | 3,003,416 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,660 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 29,080 |
All Other Assets | 0 |
TOTAL ASSETS | 3,189,160 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,151 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 2,635,159 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 2,635,159 |
TOTAL LIABILITIES | 2,636,310 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 552,850 |
TOTAL EQUITY | 552,850 |
TOTAL LIABILITIES, SHARES, & EQUITY | 3,189,160 |
INCOME & EXPENSE | |
Loan Income | 126,651 |
Investment Income | 5,431 |
Other Income | 3,774 |
Total Employee Compensation & Benefits | 74,708 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 47,680 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 1,836 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 13,922 |
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