Dec, 31, 2023 — AWAKON FEDERAL CREDIT UNION is a federal credit union headquartered in ONAWAY, MI with 5 branch locations and about $184.29 million in total assets. Opened 73 years ago in 1951, AWAKON FEDERAL CREDIT UNION has about 14,598 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | AWAKON FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 20855 Washington Ave ONAWAY, MI 49765 |
| Phone: | (989) 733-8557 |
| Fax: | (989) 733-6252 |
| Website: | https://www.awakonfcu.net |
| Branches: | 5 branch locations |
| Members: | 14,598 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7465 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $184,291,822 |
| CEO/Manager: | Scott M Pauly |
| Chairperson: | Robert Bischer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,099,939 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 57,266,991 |
| Unsecured Loans | 10,422,911 |
| Other Loans | 66,796,650 |
| TOTAL LOANS | 134,486,552 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -982,331 |
| Land And Building | 5,416,125 |
| Other Fixed Assets | 224,962 |
| NCUSIF Deposit | 1,482,030 |
| All Other Assets | 0 |
| TOTAL ASSETS | 184,291,822 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 164,288 |
| Notes & Interest Payable | 1,750,000 |
| Accounts Payable & Other Liabilities | 4,236,478 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 117,943,501 |
| Regular shares | 0 |
| All Other Shares & Deposits | 41,401,580 |
| TOTAL SHARES & DEPOSITS | 159,345,081 |
| TOTAL LIABILITIES | 165,500,608 |
| Regular Reserve | 0 |
| Other Reserves | -1,015,604 |
| Undivided Earnings | 19,806,818 |
| TOTAL EQUITY | 18,791,214 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 184,291,822 |
| INCOME & EXPENSE | |
| Loan Income | 7,715,896 |
| Investment Income | 566,056 |
| Other Income | 1,560,116 |
| Total Employee Compensation & Benefits | 3,322,405 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,077,572 |
| Non-operating Income & (Expense) | 77,666 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 898,534 |
| Cost of Funds | 1,020,631 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,938,033 |
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