Dec, 31, 2023 — SHORE TO SHORE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in TRENTON, MI with 2 branch locations and about $79.34 million in total assets. Opened 71 years ago in 1953, SHORE TO SHORE COMMUNITY FEDERAL CREDIT UNION has about 5,637 members and employs 17 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SHORE TO SHORE COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4550 Division St TRENTON, MI 48183 |
| Phone: | (734) 675-3100 |
| Fax: | (734) 675-4204 |
| Website: | https://www.shore2shorecu.com |
| Branches: | 2 branch locations |
| Members: | 5,637 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8349 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $79,344,502 |
| CEO/Manager: | Jennifer C Guest |
| Chairperson: | Richard Savage |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,657,608 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,362,802 |
| Unsecured Loans | 3,978,798 |
| Other Loans | 15,970,797 |
| TOTAL LOANS | 29,312,397 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -270,467 |
| Land And Building | 1,340,015 |
| Other Fixed Assets | 43,043 |
| NCUSIF Deposit | 755,245 |
| All Other Assets | 0 |
| TOTAL ASSETS | 79,344,502 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15,614 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 486,519 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,281,976 |
| Regular shares | 44,146,444 |
| All Other Shares & Deposits | 12,193,587 |
| TOTAL SHARES & DEPOSITS | 71,622,007 |
| TOTAL LIABILITIES | 72,124,191 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,220,311 |
| TOTAL EQUITY | 7,220,311 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 79,344,502 |
| INCOME & EXPENSE | |
| Loan Income | 1,553,857 |
| Investment Income | 1,203,866 |
| Other Income | 464,033 |
| Total Employee Compensation & Benefits | 1,124,846 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,433,530 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 206,907 |
| Cost of Funds | 93,556 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 877,703 |
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