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BLOOM CREDIT UNION

Dec, 31, 2023 — BLOOM CREDIT UNION is a federally insured state chartered credit union headquartered in WYOMING, MI with 5 branch locations and about $190.59 million in total assets. Opened 73 years ago in 1951, BLOOM CREDIT UNION has about 13,439 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272486193
Name:BLOOM CREDIT UNION
Address:
(Main Office)
1414 Burton St SW
WYOMING, MI 49509
Phone:(616) 452-2161
Fax:
Website:https://bloomcu.org/
Branches:5 branch locations
Members:13,439
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62243
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1951
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$190,592,884
CEO/Manager:Joe Heintskill
Chairperson:Roxanne Speck

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,148,627
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 66,903,825
 Unsecured Loans 10,914,520
 Other Loans 47,552,916
 TOTAL LOANS 125,452,262
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -811,089
 Land And Building 3,573,414
 Other Fixed Assets 892,485
 NCUSIF Deposit 1,461,943
 All Other Assets 0
  TOTAL ASSETS 190,592,884
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,557,177
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 32,679,960
 Regular shares 87,996,810
 All Other Shares & Deposits 51,223,569
  TOTAL SHARES & DEPOSITS 171,900,339
  TOTAL LIABILITIES 173,457,516
 Regular Reserve 0
 Other Reserves -2,347,680
 Undivided Earnings 19,483,048
  TOTAL EQUITY 17,135,368
  TOTAL LIABILITIES, SHARES, & EQUITY 190,592,884
INCOME & EXPENSE  
 Loan Income 7,770,700
 Investment Income 1,812,442
 Other Income 2,641,872
 Total Employee Compensation & Benefits 3,633,409
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,846,582
 Non-operating Income & (Expense) 391,148
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 803,096
 Cost of Funds 1,186,822
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,197,385
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