LATVIAN HERITAGE FEDERAL CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.latvianheritage.org for more information.
Sep, 30, 2025 — LATVIAN HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND RAPIDS, MI with 2 branch locations and about $3.45 million in total assets. Opened 63 years ago in 1963, LATVIAN HERITAGE FEDERAL CREDIT UNION has about 408 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.
| Name: | LATVIAN HERITAGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 504 GRAND AVE NE, P.O. BOX 152125 GRAND RAPIDS, MI 49515 |
| Phone: | (616) 454-8012 |
| Fax: | |
| Website: | https://www.latvianheritage.org |
| Branches: | 2 branch locations |
| Members: | 408 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15779 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $3,450,743 |
| CEO/Manager: | Ivars Petrovskis |
| Chairperson: | Tracy Wood |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 75,400 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,718,110 |
| Unsecured Loans | 60,881 |
| Other Loans | 94,547 |
| TOTAL LOANS | 2,873,538 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -32,769 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 33,390 |
| All Other Assets | 13,986 |
| TOTAL ASSETS | 3,450,743 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,768 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -393 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 2,909,459 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 2,909,459 |
| TOTAL LIABILITIES | 2,911,834 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 538,909 |
| TOTAL EQUITY | 538,909 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,450,743 |
| INCOME & EXPENSE | |
| Loan Income | 90,671 |
| Investment Income | 2,915 |
| Other Income | 6,759 |
| Total Employee Compensation & Benefits | 61,173 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 42,512 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -3,276 |
| Cost of Funds | 3,000 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,722 |
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