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BLUE WATER FEDERAL CREDIT UNION

Dec, 31, 2020 — BLUE WATER FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 0 branch location and about $17.48 million in total assets. Opened 62 years ago in 1959, BLUE WATER FEDERAL CREDIT UNION has about 1,279 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: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:http://bluewaterfcu.com
Branches:0 branch locations
Members:1,279
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$17,483,380
CEO/Manager:Kim L Steele
Chairperson:A. Raymond Kerr

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,285,334
TOTAL INVESTMENTS 5,218,900
Loans Held for Sale 0
 
 Real Estate Loans 6,157,824
 Unsecured Loans 716,504
 Other Loans 2,934,962
 TOTAL LOANS 9,809,290
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,000
 Land And Building 0
 Other Fixed Assets 1,171
 NCUSIF Deposit 123,205
 All Other Assets 70,480
  TOTAL ASSETS 17,483,380
LIABILITIES & CAPITAL:  
 Dividends Payable 5,468
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 113,861
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,886,434
 Regular shares 3,879,157
 All Other Shares & Deposits 8,896,150
  TOTAL SHARES & DEPOSITS 14,661,741
  TOTAL LIABILITIES 14,781,070
 Regular Reserve 238,500
 Other Reserves 0
 Undivided Earnings 2,463,810
  TOTAL EQUITY 2,702,310
  TOTAL LIABILITIES, SHARES, & EQUITY 17,483,380
INCOME & EXPENSE  
 Loan Income 399,322
 Investment Income 60,311
 Other Income 19,530
 Total Employee Compensation & Benefits 216,508
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 179,456
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 46,284
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 36,915
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