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TANDEM FEDERAL CREDIT UNION

Dec, 31, 2023 — TANDEM FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $23.19 million in total assets. Opened 83 years ago in 1941, TANDEM FEDERAL CREDIT UNION has about 2,248 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TANDEM FEDERAL CREDIT UNION
Address:
(Main Office)
21043 Mound Rd
WARREN, MI 48091-2903
Phone:(586) 759-5050
Fax:(586) 759-5053
Website:https://www.tandemfcu.com
Branches:1 branch locations
Members:2,248
Credit Union Type:Federal Credit Union
Charter Number:4787
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1941
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$23,186,661
CEO/Manager:Deirdre Taylor
Chairperson:Patricia Swann-Brown

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,405,308
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,419,875
 Unsecured Loans 1,449,016
 Other Loans 4,138,772
 TOTAL LOANS 8,007,664
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -78,570
 Land And Building 176,122
 Other Fixed Assets 94,815
 NCUSIF Deposit 197,067
 All Other Assets 0
  TOTAL ASSETS 23,186,661
LIABILITIES & CAPITAL:  
 Dividends Payable 3,715
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 177,074
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,788,445
 Regular shares 15,780,592
 All Other Shares & Deposits 1,698,532
  TOTAL SHARES & DEPOSITS 20,267,569
  TOTAL LIABILITIES 20,448,358
 Regular Reserve 0
 Other Reserves -1,250,848
 Undivided Earnings 3,989,151
  TOTAL EQUITY 2,738,303
  TOTAL LIABILITIES, SHARES, & EQUITY 23,186,661
INCOME & EXPENSE  
 Loan Income 497,963
 Investment Income 235,550
 Other Income 220,243
 Total Employee Compensation & Benefits 434,961
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 698,373
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 56,849
 Cost of Funds 34,710
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -155,118
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