Sep, 30, 2025 — SETTLERS FEDERAL CREDIT UNION is a federal credit union headquartered in BRUCE CROSSING, MI with 2 branch locations and about $36.70 million in total assets. Opened 94 years ago in 1932, SETTLERS FEDERAL CREDIT UNION has about 3,929 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SETTLERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14623 State Highway M28 E BRUCE CROSSING, MI 49912-9296 |
| Phone: | (906) 827-3240 |
| Fax: | (906) 827-3260 |
| Website: | https://www.settlersfcu.com |
| Branches: | 2 branch locations |
| Members: | 3,929 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24793 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1932 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $36,700,218 |
| CEO/Manager: | Lisa J Lindberg |
| Chairperson: | Pamela Malnar |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,197,609 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,516,473 |
| Unsecured Loans | 5,368,304 |
| Other Loans | 11,596,479 |
| TOTAL LOANS | 18,481,256 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -139,404 |
| Land And Building | 511,406 |
| Other Fixed Assets | 41,131 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 281,343 |
| All Other Assets | 0 |
| TOTAL ASSETS | 36,700,218 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 183,459 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,963,909 |
| Regular shares | 15,377,824 |
| All Other Shares & Deposits | 6,332,782 |
| TOTAL SHARES & DEPOSITS | 29,674,516 |
| TOTAL LIABILITIES | 29,857,975 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,842,243 |
| TOTAL EQUITY | 6,842,243 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 36,700,218 |
| INCOME & EXPENSE | |
| Loan Income | 929,762 |
| Investment Income | 527,028 |
| Other Income | 97,592 |
| Total Employee Compensation & Benefits | 381,120 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 549,681 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -2,835 |
| Cost of Funds | 117,053 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 622,076 |
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