Jun, 30, 2024 — PARKWAY FEDERAL CREDIT UNION is a federal credit union headquartered in REDFORD, MI with 1 branch location and about $26.47 million in total assets. Opened 77 years ago in 1947, PARKWAY FEDERAL CREDIT UNION has about 2,177 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PARKWAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 23400 Plymouth Rd REDFORD, MI 48239-1486 |
| Phone: | (313) 532-6451 |
| Fax: | (313) 532-8903 |
| Website: | https://www.parkwayfederal.com |
| Branches: | 1 branch locations |
| Members: | 2,177 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5420 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,468,483 |
| CEO/Manager: | Barbara A Thompson |
| Chairperson: | George M Riley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,029,542 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,049,636 |
| Unsecured Loans | 189,297 |
| Other Loans | 1,316,318 |
| TOTAL LOANS | 4,555,251 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -183,542 |
| Land And Building | 74,760 |
| Other Fixed Assets | 16,868 |
| NCUSIF Deposit | 245,456 |
| All Other Assets | 0 |
| TOTAL ASSETS | 26,468,483 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 466 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 621,902 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,304,018 |
| Regular shares | 17,804,287 |
| All Other Shares & Deposits | 815,307 |
| TOTAL SHARES & DEPOSITS | 23,923,612 |
| TOTAL LIABILITIES | 24,545,980 |
| Regular Reserve | 0 |
| Other Reserves | 1,351,029 |
| Undivided Earnings | 571,474 |
| TOTAL EQUITY | 1,922,503 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,468,483 |
| INCOME & EXPENSE | |
| Loan Income | 187,583 |
| Investment Income | 132,277 |
| Other Income | 166,073 |
| Total Employee Compensation & Benefits | 410,235 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 450,904 |
| Non-operating Income & (Expense) | 14,823 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -7,071 |
| Cost of Funds | 2,880 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -296,344 |
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