Dec, 31, 2023 — MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in LUDINGTON, MI with 1 branch location and about $6.62 million in total assets. Opened 62 years ago in 1962, MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION has about 556 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 809 E Tinkham Ave LUDINGTON, MI 49431 |
| Phone: | (231) 843-4066 |
| Fax: | (231) 843-4066 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 556 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61696 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Nov 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,621,896 |
| CEO/Manager: | Teresa Eriksen |
| Chairperson: | Dennis Genson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 620,651 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 334,524 |
| Other Loans | 2,311,623 |
| TOTAL LOANS | 2,646,147 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,168 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 59,963 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,621,896 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,150 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 5,223,334 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 5,223,334 |
| TOTAL LIABILITIES | 5,226,484 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,395,412 |
| TOTAL EQUITY | 1,395,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,621,896 |
| INCOME & EXPENSE | |
| Loan Income | 106,056 |
| Investment Income | 128,076 |
| Other Income | 0 |
| Total Employee Compensation & Benefits | 58,711 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 27,201 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 123,441 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 26,509 |
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