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FREESTAR FINANCIAL CREDIT UNION

Jun, 30, 2021 — FREESTAR FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in MOUNT CLEMENS, MI with 6 branch locations and about $278.74 million in total assets. Opened 64 years ago in 1957, FREESTAR FINANCIAL CREDIT UNION has about 20,064 members and employs 69 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272484917
Name:FREESTAR FINANCIAL CREDIT UNION
Address:
(Main Office)
PO BOX 2800
MOUNT CLEMENS, MI 48046
Phone:(586) 466-7800
Fax:(586) 468-6881
Website:http://www.freestarfinancial.com
Branches:6 branch locations
Members:20,064
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60406
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1957
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$278,738,481
CEO/Manager:Drema D Isaac
Chairperson:Raymond W White Jr.

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,105,239
TOTAL INVESTMENTS 71,674,698
Loans Held for Sale 0
 
 Real Estate Loans 87,637,146
 Unsecured Loans 18,196,148
 Other Loans 66,314,871
 TOTAL LOANS 172,183,084
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,584,348
 Land And Building 10,879,173
 Other Fixed Assets 1,404,572
 NCUSIF Deposit 2,098,224
 All Other Assets 4,977,839
  TOTAL ASSETS 278,738,481
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 7,000,000
 Accounts Payable & Other Liabilities 3,504,900
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 38,955,714
 Regular shares 83,584,735
 All Other Shares & Deposits 119,766,658
  TOTAL SHARES & DEPOSITS 242,307,107
  TOTAL LIABILITIES 252,812,007
 Regular Reserve 2,992,291
 Other Reserves 3,347,353
 Undivided Earnings 19,586,830
  TOTAL EQUITY 25,926,474
  TOTAL LIABILITIES, SHARES, & EQUITY 278,738,481
INCOME & EXPENSE  
 Loan Income 4,144,819
 Investment Income 348,483
 Other Income 1,096,600
 Total Employee Compensation & Benefits 2,532,963
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,260,853
 Non-operating Income & (Expense) 155,055
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -119,000
 Cost of Funds 754,540
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,036,265
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