Dec, 31, 2023 — GREAT LAKES FEDERAL CREDIT UNION is a federal credit union headquartered in BAY CITY, MI with 3 branch locations and about $60.43 million in total assets. Opened 61 years ago in 1963, GREAT LAKES FEDERAL CREDIT UNION has about 4,600 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GREAT LAKES FEDERAL CREDIT UNION |
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Address: (Main Office) | 415 Washington Ave BAY CITY, MI 48708-5712 |
Phone: | (989) 893-2831 |
Fax: | (989) 893-0412 |
Website: | https://greatlakesfcu.com |
Branches: | 3 branch locations |
Members: | 4,600 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24874 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $60,428,613 |
CEO/Manager: | Justin D Ebel |
Chairperson: | Randall L Frank |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,365,514 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 15,248,994 |
Unsecured Loans | 1,043,636 |
Other Loans | 10,831,088 |
TOTAL LOANS | 27,123,718 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -135,957 |
Land And Building | 1,904,626 |
Other Fixed Assets | 75,802 |
NCUSIF Deposit | 535,030 |
All Other Assets | 0 |
TOTAL ASSETS | 60,428,613 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 8,623 |
Notes & Interest Payable | 5,000,000 |
Accounts Payable & Other Liabilities | 236,467 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,898,046 |
Regular shares | 32,839,609 |
All Other Shares & Deposits | 7,089,717 |
TOTAL SHARES & DEPOSITS | 51,827,372 |
TOTAL LIABILITIES | 57,072,462 |
Regular Reserve | 0 |
Other Reserves | -1,767,886 |
Undivided Earnings | 5,124,037 |
TOTAL EQUITY | 3,356,151 |
TOTAL LIABILITIES, SHARES, & EQUITY | 60,428,613 |
INCOME & EXPENSE | |
Loan Income | 1,344,500 |
Investment Income | 518,798 |
Other Income | 448,934 |
Total Employee Compensation & Benefits | 700,670 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,000,187 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 43,008 |
Cost of Funds | 215,086 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 386,264 |
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