Dec, 31, 2023 — SAFE HARBOR CREDIT UNION is a federally insured state chartered credit union headquartered in LUDINGTON, MI with 1 branch location and about $144.96 million in total assets. Opened 72 years ago in 1952, SAFE HARBOR CREDIT UNION has about 8,025 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SAFE HARBOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 5511 W US Highway 10 LUDINGTON, MI 49431-2455 |
| Phone: | (231) 843-2323 |
| Fax: | (231) 845-7654 |
| Website: | https://www.safeharborcu.org |
| Branches: | 1 branch locations |
| Members: | 8,025 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61988 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $144,959,154 |
| CEO/Manager: | Adam Johnson |
| Chairperson: | David M Kasley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,895,678 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 83,360,103 |
| Unsecured Loans | 5,872,057 |
| Other Loans | 33,685,804 |
| TOTAL LOANS | 126,790,356 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -494,654 |
| Land And Building | 4,962,683 |
| Other Fixed Assets | 498,966 |
| NCUSIF Deposit | 1,055,447 |
| All Other Assets | 0 |
| TOTAL ASSETS | 144,959,154 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 94,535 |
| Notes & Interest Payable | 8,783,102 |
| Accounts Payable & Other Liabilities | 375,510 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,136,094 |
| Regular shares | 43,197,121 |
| All Other Shares & Deposits | 53,331,251 |
| TOTAL SHARES & DEPOSITS | 122,664,466 |
| TOTAL LIABILITIES | 131,917,613 |
| Regular Reserve | 0 |
| Other Reserves | -342,783 |
| Undivided Earnings | 13,384,324 |
| TOTAL EQUITY | 13,041,541 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 144,959,154 |
| INCOME & EXPENSE | |
| Loan Income | 7,067,965 |
| Investment Income | 196,885 |
| Other Income | 634,476 |
| Total Employee Compensation & Benefits | 2,152,769 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,351,953 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 336,958 |
| Cost of Funds | 1,930,881 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,712,136 |
| ↑ Back to Top | |