Sep, 30, 2025 — DOWAGIAC AREA FEDERAL CREDIT UNION is a federal credit union headquartered in DOWAGIAC, MI with 1 branch location and about $25.37 million in total assets. Opened 54 years ago in 1972, DOWAGIAC AREA FEDERAL CREDIT UNION has about 1,833 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DOWAGIAC AREA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 473 E Division St DOWAGIAC, MI 49047-1541 |
| Phone: | (269) 782-2410 |
| Fax: | (269) 782-9870 |
| Website: | https://www.dafcu.net |
| Branches: | 1 branch locations |
| Members: | 1,833 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21070 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1972 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $25,367,105 |
| CEO/Manager: | Erik Tapia |
| Chairperson: | Tim Dowsett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,762,645 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,047,168 |
| Unsecured Loans | 1,452,010 |
| Other Loans | 7,508,151 |
| TOTAL LOANS | 12,046,711 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -133,782 |
| Land And Building | 529,419 |
| Other Fixed Assets | 27,448 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 202,289 |
| All Other Assets | 0 |
| TOTAL ASSETS | 25,367,105 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 74,554 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,875,429 |
| Regular shares | 9,730,641 |
| All Other Shares & Deposits | 9,051,518 |
| TOTAL SHARES & DEPOSITS | 22,657,588 |
| TOTAL LIABILITIES | 22,732,142 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,634,963 |
| TOTAL EQUITY | 2,634,963 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 25,367,105 |
| INCOME & EXPENSE | |
| Loan Income | 485,795 |
| Investment Income | 400,214 |
| Other Income | 59,723 |
| Total Employee Compensation & Benefits | 191,944 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 404,485 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 58,577 |
| Cost of Funds | 88,068 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 263,196 |
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