Sep, 30, 2025 — NORTHLAND AREA FEDERAL CREDIT UNION is a federal credit union headquartered in ALPENA, MI with 18 branch locations and about $700.98 million in total assets. Opened 69 years ago in 1957, NORTHLAND AREA FEDERAL CREDIT UNION has about 46,015 members and employs 156 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHLAND AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1161 N Bagley St ALPENA, MI 49707-8221 |
| Phone: | (989) 739-1401 |
| Fax: | |
| Website: | https://www.northlandcu.com |
| Branches: | 18 branch locations |
| Members: | 46,015 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11979 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $700,984,763 |
| CEO/Manager: | Pete Dzuris |
| Chairperson: | Mike Palumbo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 69,635,953 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 299,504,531 |
| Unsecured Loans | 11,341,120 |
| Other Loans | 135,608,661 |
| TOTAL LOANS | 448,172,714 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,847,822 |
| Land And Building | 20,006,778 |
| Other Fixed Assets | 1,389,574 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 5,601,756 |
| All Other Assets | 758,225 |
| TOTAL ASSETS | 700,984,763 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,142,732 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 9,839,176 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 134,455,804 |
| Regular shares | 176,916,603 |
| All Other Shares & Deposits | 310,690,794 |
| TOTAL SHARES & DEPOSITS | 622,063,201 |
| TOTAL LIABILITIES | 653,096,867 |
| Regular Reserve | 0 |
| Other Reserves | -17,847,805 |
| Undivided Earnings | 65,735,701 |
| TOTAL EQUITY | 47,887,896 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 700,984,763 |
| INCOME & EXPENSE | |
| Loan Income | 19,093,385 |
| Investment Income | 3,869,852 |
| Other Income | 4,426,237 |
| Total Employee Compensation & Benefits | 9,390,077 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 7,307,296 |
| Non-operating Income & (Expense) | 500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 495,694 |
| Cost of Funds | 7,679,353 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,219,846 |
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