Dec, 31, 2023 — PARDA FEDERAL CREDIT UNION is a federal credit union headquartered in AUBURN HILLS, MI with 8 branch locations and about $213.69 million in total assets. Opened 50 years ago in 1974, PARDA FEDERAL CREDIT UNION has about 15,004 members and employs 55 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PARDA FEDERAL CREDIT UNION |
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Address: (Main Office) | 2601 Cambridge Ct Ste 210 AUBURN HILLS, MI 48326-2580 |
Phone: | (248) 340-7000 |
Fax: | (248) 475-2550 |
Website: | https://www.parda.com |
Branches: | 8 branch locations |
Members: | 15,004 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 21686 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1974 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $213,691,865 |
CEO/Manager: | Kimberly A Jones |
Chairperson: | David J Sweet |
ASSETS: | $ Amount |
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Cash & Equivalents | 14,758,039 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 56,675,397 |
Unsecured Loans | 7,618,897 |
Other Loans | 45,963,184 |
TOTAL LOANS | 110,257,478 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -986,665 |
Land And Building | 4,319,722 |
Other Fixed Assets | 363,783 |
NCUSIF Deposit | 1,836,348 |
All Other Assets | 0 |
TOTAL ASSETS | 213,691,865 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,029 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,188,945 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 44,555,551 |
Regular shares | 71,282,598 |
All Other Shares & Deposits | 73,476,889 |
TOTAL SHARES & DEPOSITS | 189,315,038 |
TOTAL LIABILITIES | 191,507,012 |
Regular Reserve | 0 |
Other Reserves | -2,160,384 |
Undivided Earnings | 24,345,237 |
TOTAL EQUITY | 22,184,853 |
TOTAL LIABILITIES, SHARES, & EQUITY | 213,691,865 |
INCOME & EXPENSE | |
Loan Income | 5,581,464 |
Investment Income | 2,804,730 |
Other Income | 1,308,964 |
Total Employee Compensation & Benefits | 4,414,668 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,067,572 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 377,222 |
Cost of Funds | 579,831 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 932,795 |
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» See also Statement of Financial Condition