Jun, 30, 2024 — MICHIGAN COLUMBUS FEDERAL CREDIT UNION is a federal credit union headquartered in LIVONIA, MI with 1 branch location and about $62.95 million in total assets. Opened 77 years ago in 1947, MICHIGAN COLUMBUS FEDERAL CREDIT UNION has about 4,315 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MICHIGAN COLUMBUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 30419 6 Mile Rd LIVONIA, MI 48152-3460 |
| Phone: | (734) 425-5080 |
| Fax: | (734) 425-1181 |
| Website: | https://www.mcfcu.net |
| Branches: | 1 branch locations |
| Members: | 4,315 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5554 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $62,947,029 |
| CEO/Manager: | Barbara Trevino |
| Chairperson: | Erik M Mayernik |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,223,604 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,021,557 |
| Unsecured Loans | 1,696,582 |
| Other Loans | 5,452,085 |
| TOTAL LOANS | 24,170,224 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -79,814 |
| Land And Building | 707,469 |
| Other Fixed Assets | 203 |
| NCUSIF Deposit | 531,896 |
| All Other Assets | 0 |
| TOTAL ASSETS | 62,947,029 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 431,815 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,286,548 |
| Regular shares | 20,979,191 |
| All Other Shares & Deposits | 22,868,550 |
| TOTAL SHARES & DEPOSITS | 56,134,289 |
| TOTAL LIABILITIES | 56,566,104 |
| Regular Reserve | 0 |
| Other Reserves | 1,788,877 |
| Undivided Earnings | 4,592,048 |
| TOTAL EQUITY | 6,380,925 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 62,947,029 |
| INCOME & EXPENSE | |
| Loan Income | 693,538 |
| Investment Income | 372,126 |
| Other Income | 81,279 |
| Total Employee Compensation & Benefits | 369,878 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 637,133 |
| Non-operating Income & (Expense) | -500 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,630 |
| Cost of Funds | 57,717 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 241,260 |
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