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HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2020 — HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in HARBOR BEACH, MI with 1 branch location and about $4.48 million in total assets. Opened 52 years ago in 1969, HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION has about 643 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:HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 7
HARBOR BEACH, MI 48441
Phone:(989) 479-3357
Fax:(989) 479-9860
Website:n/a
Branches:1 branch locations
Members:643
Credit Union Type:Federal Credit Union
Charter Number:19274
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1969
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$4,478,632
CEO/Manager:Lori K Lovejoy
Chairperson:Chanda Booms

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 429,182
TOTAL INVESTMENTS 2,732,000
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 287,184
 Other Loans 970,351
 TOTAL LOANS 1,257,535
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -26,681
 Land And Building 49,941
 Other Fixed Assets 1,260
 NCUSIF Deposit 32,445
 All Other Assets 2,950
  TOTAL ASSETS 4,478,632
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 13,721
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,494,366
 All Other Shares & Deposits 520,079
  TOTAL SHARES & DEPOSITS 4,014,445
  TOTAL LIABILITIES 4,028,166
 Regular Reserve 86,088
 Other Reserves 0
 Undivided Earnings 364,378
  TOTAL EQUITY 450,466
  TOTAL LIABILITIES, SHARES, & EQUITY 4,478,632
INCOME & EXPENSE  
 Loan Income 63,113
 Investment Income 37,180
 Other Income 507
 Total Employee Compensation & Benefits 50,471
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 49,402
 Non-operating Income & (Expense) 3,300
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 7,586
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -3,359
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