TORCH LAKE FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.torchlakefederal.com for more information.
Sep, 30, 2025 — TORCH LAKE FEDERAL CREDIT UNION is a federal credit union headquartered in LAURIUM, MI with 1 branch location and about $12.36 million in total assets. Opened 71 years ago in 1955, TORCH LAKE FEDERAL CREDIT UNION has about 1,785 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: | TORCH LAKE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 50 3RD ST LAURIUM, MI 49913 |
| Phone: | (906) 337-5565 |
| Fax: | (906) 337-0385 |
| Website: | https://www.torchlakefederal.com |
| Branches: | 1 branch locations |
| Members: | 1,785 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10099 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,362,473 |
| CEO/Manager: | Connie J Mikkola |
| Chairperson: | Alisha M Kocjan |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,229,248 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 48,042 |
| Unsecured Loans | 116,525 |
| Other Loans | 3,723,711 |
| TOTAL LOANS | 4,708,355 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -45,054 |
| Land And Building | 0 |
| Other Fixed Assets | 8,646 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 107,719 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,362,473 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 45,643 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,024,934 |
| Regular shares | 8,112,007 |
| All Other Shares & Deposits | 188,180 |
| TOTAL SHARES & DEPOSITS | 11,325,121 |
| TOTAL LIABILITIES | 10,415,511 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 991,709 |
| TOTAL EQUITY | 991,709 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 11,227,952 |
| INCOME & EXPENSE | |
| Loan Income | 147,685 |
| Investment Income | 87,707 |
| Other Income | 29,139 |
| Total Employee Compensation & Benefits | 109,421 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 165,741 |
| Non-operating Income & (Expense) | 19,981 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,324 |
| Cost of Funds | 3,196 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -350,010 |
| ↑ Back to Top | |