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TAHQUAMENON AREA CREDIT UNION

Jun, 30, 2021 — TAHQUAMENON AREA CREDIT UNION is a federally insured state chartered credit union headquartered in NEWBERRY, MI with 3 branch locations and about $73.64 million in total assets. Opened 66 years ago in 1955, TAHQUAMENON AREA CREDIT UNION has about 5,617 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TAHQUAMENON AREA CREDIT UNION
Address:
(Main Office)
PO BOX 485
NEWBERRY, MI 49868
Phone:(906) 293-5117
Fax:
Website:http://www.tacumi.com
Branches:3 branch locations
Members:5,617
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60423
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1955
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$73,640,536
CEO/Manager:Ruben C Ison
Chairperson:Michael Walker

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,060,464
TOTAL INVESTMENTS 44,882,046
Loans Held for Sale 0
 
 Real Estate Loans 6,470,256
 Unsecured Loans 3,322,178
 Other Loans 10,108,887
 TOTAL LOANS 19,901,321
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -85,530
 Land And Building 1,319,977
 Other Fixed Assets 181,476
 NCUSIF Deposit 605,767
 All Other Assets 775,015
  TOTAL ASSETS 73,640,536
LIABILITIES & CAPITAL:  
 Dividends Payable 837
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 922,710
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,307,094
 Regular shares 38,683,219
 All Other Shares & Deposits 9,117,511
  TOTAL SHARES & DEPOSITS 65,107,824
  TOTAL LIABILITIES 66,031,371
 Regular Reserve 4,258,755
 Other Reserves 218,794
 Undivided Earnings 3,131,616
  TOTAL EQUITY 7,609,165
  TOTAL LIABILITIES, SHARES, & EQUITY 73,640,536
INCOME & EXPENSE  
 Loan Income 504,393
 Investment Income 324,761
 Other Income 202,990
 Total Employee Compensation & Benefits 569,468
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 546,706
 Non-operating Income & (Expense) 37,842
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 10,871
 Cost of Funds 17,970
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 86,865
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