Dec, 31, 2023 — WARREN MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $20.99 million in total assets. Opened 72 years ago in 1952, WARREN MUNICIPAL FEDERAL CREDIT UNION has about 1,416 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | WARREN MUNICIPAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 31300 Hoover Rd WARREN, MI 48093-1774 |
Phone: | (586) 268-9690 |
Fax: | (586) 268-5898 |
Website: | https://warrenmunicipalfcu.com |
Branches: | 1 branch locations |
Members: | 1,416 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7633 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $20,993,283 |
CEO/Manager: | Karen L Mollison |
Chairperson: | Chester Kulesza |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,056,147 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,045,393 |
Unsecured Loans | 918,449 |
Other Loans | 5,173,751 |
TOTAL LOANS | 12,154,215 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -78,665 |
Land And Building | 40,591 |
Other Fixed Assets | 6,020 |
NCUSIF Deposit | 221,475 |
All Other Assets | 0 |
TOTAL ASSETS | 20,993,283 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 700 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 23,603 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,044,062 |
Regular shares | 13,786,950 |
All Other Shares & Deposits | 2,419,481 |
TOTAL SHARES & DEPOSITS | 19,250,493 |
TOTAL LIABILITIES | 19,274,796 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 1,718,487 |
TOTAL EQUITY | 1,718,487 |
TOTAL LIABILITIES, SHARES, & EQUITY | 20,993,283 |
INCOME & EXPENSE | |
Loan Income | 467,360 |
Investment Income | 293,483 |
Other Income | 65,350 |
Total Employee Compensation & Benefits | 298,641 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 290,860 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 33,000 |
Cost of Funds | 3,247 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 228,014 |
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