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MANISTIQUE FEDERAL CREDIT UNION

Mar, 31, 2021 — MANISTIQUE FEDERAL CREDIT UNION is a federal credit union headquartered in MANISTIQUE, MI with 1 branch location and about $34.55 million in total assets. Opened 54 years ago in 1967, MANISTIQUE FEDERAL CREDIT UNION has about 3,177 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MANISTIQUE FEDERAL CREDIT UNION
Address:
(Main Office)
121 EAST ELK STREET
MANISTIQUE, MI 49854
Phone:(906) 341-6914
Fax:(906) 341-2810
Website:http://manistiquefederal.com
Branches:1 branch locations
Members:3,177
Credit Union Type:Federal Credit Union
Charter Number:18067
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1967
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$34,552,141
CEO/Manager:Tammy Rochefort
Chairperson:Gary Watchorn

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,846,804
TOTAL INVESTMENTS 5,052,500
Loans Held for Sale 0
 
 Real Estate Loans 5,026,392
 Unsecured Loans 1,060,684
 Other Loans 8,948,347
 TOTAL LOANS 15,035,423
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -29,190
 Land And Building 190,484
 Other Fixed Assets 53,443
 NCUSIF Deposit 277,309
 All Other Assets 125,368
  TOTAL ASSETS 34,552,141
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 126,814
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,531,570
 Regular shares 16,694,561
 All Other Shares & Deposits 5,699,017
  TOTAL SHARES & DEPOSITS 30,925,148
  TOTAL LIABILITIES 31,051,962
 Regular Reserve 691,887
 Other Reserves 0
 Undivided Earnings 2,808,292
  TOTAL EQUITY 3,500,179
  TOTAL LIABILITIES, SHARES, & EQUITY 34,552,141
INCOME & EXPENSE  
 Loan Income 180,532
 Investment Income 10,375
 Other Income 3,278
 Total Employee Compensation & Benefits 74,699
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 72,350
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 13,063
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 57,880
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