Sep, 30, 2025 — BLUE WATER FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 1 branch location and about $18.84 million in total assets. Opened 67 years ago in 1959, BLUE WATER FEDERAL CREDIT UNION has about 1,146 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: | BLUE WATER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 526 WATER ST RM 113 PORT HURON, MI 48060-5463 |
| Phone: | (810) 985-6993 |
| Fax: | (810) 985-4039 |
| Website: | https://www.bluewaterfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,146 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12906 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,841,790 |
| CEO/Manager: | Theresa L Millsap |
| Chairperson: | A. Raymond Kerr |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,492,590 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,543,930 |
| Unsecured Loans | 741,006 |
| Other Loans | 2,416,117 |
| TOTAL LOANS | 8,701,052 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -31,945 |
| Land And Building | 0 |
| Other Fixed Assets | 88,087 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 142,742 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,841,790 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,901 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 229,130 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,961,736 |
| Regular shares | 3,067,262 |
| All Other Shares & Deposits | 10,700,169 |
| TOTAL SHARES & DEPOSITS | 15,729,167 |
| TOTAL LIABILITIES | 15,969,198 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,872,592 |
| TOTAL EQUITY | 2,872,592 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,841,790 |
| INCOME & EXPENSE | |
| Loan Income | 317,118 |
| Investment Income | 277,144 |
| Other Income | 9,924 |
| Total Employee Compensation & Benefits | 178,111 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 220,030 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 623 |
| Cost of Funds | 140,561 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 67,642 |
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