Dec, 31, 2023 — U.P. STATE CREDIT UNION is a federally insured state chartered credit union headquartered in ESCANABA, MI with 7 branch locations and about $134.71 million in total assets. Opened 69 years ago in 1955, U.P. STATE CREDIT UNION has about 10,900 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | U.P. STATE CREDIT UNION |
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Address: (Main Office) | 123 S Lincoln Rd ESCANABA, MI 49829-1339 |
Phone: | (906) 786-1146 |
Fax: | (906) 786-0269 |
Website: | https://www.upscu.com |
Branches: | 7 branch locations |
Members: | 10,900 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62085 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $134,714,455 |
CEO/Manager: | Raymond J Theoret |
Chairperson: | Howard Haulotte |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,090,343 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 31,916,028 |
Unsecured Loans | 9,303,306 |
Other Loans | 39,228,657 |
TOTAL LOANS | 80,447,991 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -279,052 |
Land And Building | 3,593,987 |
Other Fixed Assets | 525,809 |
NCUSIF Deposit | 1,245,365 |
All Other Assets | 16,500 |
TOTAL ASSETS | 134,714,455 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,213 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,456,908 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 28,719,137 |
Regular shares | 74,680,497 |
All Other Shares & Deposits | 16,464,523 |
TOTAL SHARES & DEPOSITS | 119,864,157 |
TOTAL LIABILITIES | 121,323,278 |
Regular Reserve | 0 |
Other Reserves | 3,517,019 |
Undivided Earnings | 9,874,158 |
TOTAL EQUITY | 13,391,177 |
TOTAL LIABILITIES, SHARES, & EQUITY | 134,714,455 |
INCOME & EXPENSE | |
Loan Income | 4,162,124 |
Investment Income | 1,892,747 |
Other Income | 455,611 |
Total Employee Compensation & Benefits | 2,583,375 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,518,191 |
Non-operating Income & (Expense) | -43,903 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 103,964 |
Cost of Funds | 274,986 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,990,793 |
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