Dec, 31, 2023 — PUBLIC SERVICE CREDIT UNION is a federally insured state chartered credit union headquartered in ROMULUS, MI with 11 branch locations and about $415.53 million in total assets. Opened 73 years ago in 1951, PUBLIC SERVICE CREDIT UNION has about 32,344 members and employs 126 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PUBLIC SERVICE CREDIT UNION |
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Address: (Main Office) | 7665 Merriman Rd ROMULUS, MI 48174-1920 |
Phone: | (734) 641-8400 |
Fax: | (734) 641-8470 |
Website: | https://www.pscunow.com |
Branches: | 11 branch locations |
Members: | 32,344 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60683 |
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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: | $415,528,255 |
CEO/Manager: | Dean J Trudeau |
Chairperson: | Fred Morgan |
ASSETS: | $ Amount |
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Cash & Equivalents | 25,025,021 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 97,748,582 |
Unsecured Loans | 17,995,727 |
Other Loans | 150,562,205 |
TOTAL LOANS | 267,041,788 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,239,572 |
Land And Building | 9,120,591 |
Other Fixed Assets | 1,235,143 |
NCUSIF Deposit | 3,347,282 |
All Other Assets | 0 |
TOTAL ASSETS | 415,528,255 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,177,869 |
Notes & Interest Payable | 15,000,000 |
Accounts Payable & Other Liabilities | 3,055,862 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 74,078,462 |
Regular shares | 118,283,726 |
All Other Shares & Deposits | 168,793,424 |
TOTAL SHARES & DEPOSITS | 361,155,612 |
TOTAL LIABILITIES | 381,389,343 |
Regular Reserve | 0 |
Other Reserves | -6,279,362 |
Undivided Earnings | 40,418,274 |
TOTAL EQUITY | 34,138,912 |
TOTAL LIABILITIES, SHARES, & EQUITY | 415,528,255 |
INCOME & EXPENSE | |
Loan Income | 13,551,377 |
Investment Income | 2,359,956 |
Other Income | 5,170,195 |
Total Employee Compensation & Benefits | 10,269,612 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,204,887 |
Non-operating Income & (Expense) | 4,002,272 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,355,306 |
Cost of Funds | 4,053,378 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,911,566 |
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