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GRACO FEDERAL CREDIT UNION

Mar, 31, 2021 — GRACO FEDERAL CREDIT UNION is a federal credit union headquartered in ALMA, MI with 1 branch location and about $28.46 million in total assets. Opened 59 years ago in 1962, GRACO FEDERAL CREDIT UNION has about 3,116 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272476381
Name:GRACO FEDERAL CREDIT UNION
Address:
(Main Office)
305 W DOWNIE ST
ALMA, MI 48801
Phone:(989) 463-1247
Fax:(989) 285-1583
Website:http://www.gracofcu.org
Branches:1 branch locations
Members:3,116
Credit Union Type:Federal Credit Union
Charter Number:15304
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1962
Last Audited:Apr 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$28,464,602
CEO/Manager:Stacy Grube
Chairperson:Carol Freed

Call Report

  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,354,272
TOTAL INVESTMENTS 4,441,905
Loans Held for Sale 0
 
 Real Estate Loans 845,635
 Unsecured Loans 1,055,314
 Other Loans 9,167,933
 TOTAL LOANS 11,068,882
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -62,347
 Land And Building 1,231,479
 Other Fixed Assets 88,001
 NCUSIF Deposit 179,844
 All Other Assets 162,566
  TOTAL ASSETS 28,464,602
LIABILITIES & CAPITAL:  
 Dividends Payable 31
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 99,859
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,446,314
 Regular shares 15,229,455
 All Other Shares & Deposits 4,601,431
  TOTAL SHARES & DEPOSITS 26,277,200
  TOTAL LIABILITIES 26,377,090
 Regular Reserve 84,133
 Other Reserves 0
 Undivided Earnings 2,003,379
  TOTAL EQUITY 2,087,512
  TOTAL LIABILITIES, SHARES, & EQUITY 28,464,602
INCOME & EXPENSE  
 Loan Income 179,680
 Investment Income 28,473
 Other Income 19,935
 Total Employee Compensation & Benefits 71,083
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 173,165
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 5,000
 Cost of Funds 2,741
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 40,219
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