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BLUE WATER FEDERAL CREDIT UNION

Mar, 31, 2021 — BLUE WATER FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 0 branch location and about $18.20 million in total assets. Opened 62 years ago in 1959, BLUE WATER FEDERAL CREDIT UNION has about 1,269 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:1,269
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:$18,200,102
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 2,265,181
TOTAL INVESTMENTS 5,913,900
Loans Held for Sale 0
 
 Real Estate Loans 6,370,562
 Unsecured Loans 667,891
 Other Loans 2,813,624
 TOTAL LOANS 9,852,077
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,000
 Land And Building 0
 Other Fixed Assets 967
 NCUSIF Deposit 123,205
 All Other Assets 69,772
  TOTAL ASSETS 18,200,102
LIABILITIES & CAPITAL:  
 Dividends Payable 5,280
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 124,517
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,236,862
 Regular shares 4,001,071
 All Other Shares & Deposits 9,136,740
  TOTAL SHARES & DEPOSITS 15,374,673
  TOTAL LIABILITIES 15,504,470
 Regular Reserve 238,500
 Other Reserves 0
 Undivided Earnings 2,457,132
  TOTAL EQUITY 2,695,632
  TOTAL LIABILITIES, SHARES, & EQUITY 18,200,102
INCOME & EXPENSE  
 Loan Income 96,141
 Investment Income 5,095
 Other Income 3,099
 Total Employee Compensation & Benefits 52,260
 NCUSIF Premiums Expense 3,725
 Total Other Operating Expenses 40,265
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,487
 Cost of Funds 12,226
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -6,677
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