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MANISTIQUE FEDERAL CREDIT UNION

Dec, 31, 2023 — MANISTIQUE FEDERAL CREDIT UNION is a federal credit union headquartered in MANISTIQUE, MI with 1 branch location and about $39.42 million in total assets. Opened 57 years ago in 1967, MANISTIQUE FEDERAL CREDIT UNION has about 3,126 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:MANISTIQUE FEDERAL CREDIT UNION
Address:
(Main Office)
121 E Elk St
MANISTIQUE, MI 49854-1207
Phone:(906) 341-6914
Fax:(906) 341-2810
Website:https://manistiquefederal.com
Branches:1 branch locations
Members:3,126
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, 2023
FHLB Member:No
Low Income Designation:No
Assets:$39,416,214
CEO/Manager:Tammy Rochefort
Chairperson:Gary Watchorn

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,504,563
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,736,253
 Unsecured Loans 1,917,847
 Other Loans 11,149,172
 TOTAL LOANS 18,803,272
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -54,294
 Land And Building 173,943
 Other Fixed Assets 54,003
 NCUSIF Deposit 351,191
 All Other Assets 0
  TOTAL ASSETS 39,416,214
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 196,865
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,030,596
 Regular shares 18,818,284
 All Other Shares & Deposits 7,616,890
  TOTAL SHARES & DEPOSITS 34,465,770
  TOTAL LIABILITIES 34,662,635
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 4,753,579
  TOTAL EQUITY 4,753,579
  TOTAL LIABILITIES, SHARES, & EQUITY 39,416,214
INCOME & EXPENSE  
 Loan Income 970,261
 Investment Income 682,911
 Other Income 9,294
 Total Employee Compensation & Benefits 367,749
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 385,721
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 46,900
 Cost of Funds 146,000
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 795,453
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