Dec, 31, 2023 — PENINSULA FEDERAL CREDIT UNION is a federal credit union headquartered in ESCANABA, MI with 3 branch locations and about $303.18 million in total assets. Opened 83 years ago in 1941, PENINSULA FEDERAL CREDIT UNION has about 15,003 members and employs 74 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PENINSULA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2929 3rd Ave N ESCANABA, MI 49829-4203 |
| Phone: | (906) 789-6400 |
| Fax: | (906) 789-6410 |
| Website: | https://peninsulafcu.com |
| Branches: | 3 branch locations |
| Members: | 15,003 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4291 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $303,179,641 |
| CEO/Manager: | James D Veneskey |
| Chairperson: | Betty J Trudell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,935,917 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 141,402,200 |
| Unsecured Loans | 25,120,686 |
| Other Loans | 78,407,362 |
| TOTAL LOANS | 244,930,248 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,665,934 |
| Land And Building | 11,717,616 |
| Other Fixed Assets | 1,328,051 |
| NCUSIF Deposit | 2,514,934 |
| All Other Assets | 317,751 |
| TOTAL ASSETS | 303,179,641 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 596,465 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,115,375 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,751,205 |
| Regular shares | 86,908,594 |
| All Other Shares & Deposits | 158,150,190 |
| TOTAL SHARES & DEPOSITS | 273,809,989 |
| TOTAL LIABILITIES | 275,521,829 |
| Regular Reserve | 0 |
| Other Reserves | 60,227 |
| Undivided Earnings | 27,597,585 |
| TOTAL EQUITY | 27,657,812 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 303,179,641 |
| INCOME & EXPENSE | |
| Loan Income | 13,247,754 |
| Investment Income | 1,429,487 |
| Other Income | 481,137 |
| Total Employee Compensation & Benefits | 4,964,091 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,623,043 |
| Non-operating Income & (Expense) | 60,627 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,052,615 |
| Cost of Funds | 5,039,288 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 953,630 |
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