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ASTERA CREDIT UNION

Dec, 31, 2023 — ASTERA CREDIT UNION is a federally insured state chartered credit union headquartered in LANSING, MI with 4 branch locations and about $200.07 million in total assets. Opened 75 years ago in 1949, ASTERA CREDIT UNION has about 14,877 members and employs 65 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ASTERA CREDIT UNION
Address:
(Main Office)
111 S Waverly Rd
LANSING, MI 48917
Phone:(517) 323-3644
Fax:(517) 323-4414
Website:https://www.asteracu.com
Branches:4 branch locations
Members:14,877
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60920
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1949
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$200,066,339
CEO/Manager:Martin R Carter
Chairperson:Kevin Goff

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,567,294
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 63,385,678
 Unsecured Loans 7,586,310
 Other Loans 48,817,746
 TOTAL LOANS 119,807,288
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,458,159
 Land And Building 6,300,029
 Other Fixed Assets 186,263
 NCUSIF Deposit 1,722,598
 All Other Assets 143,772
  TOTAL ASSETS 200,066,339
LIABILITIES & CAPITAL:  
 Dividends Payable 48,273
 Notes & Interest Payable 10,012,264
 Accounts Payable & Other Liabilities 1,047,773
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 31,608,337
 Regular shares 55,783,693
 All Other Shares & Deposits 91,058,806
  TOTAL SHARES & DEPOSITS 178,450,836
  TOTAL LIABILITIES 189,559,146
 Regular Reserve 0
 Other Reserves -6,988,467
 Undivided Earnings 17,495,660
  TOTAL EQUITY 10,507,193
  TOTAL LIABILITIES, SHARES, & EQUITY 200,066,339
INCOME & EXPENSE  
 Loan Income 6,660,183
 Investment Income 1,614,340
 Other Income 1,038,394
 Total Employee Compensation & Benefits 4,452,739
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,098,822
 Non-operating Income & (Expense) 9,608
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 488,824
 Cost of Funds 2,550,753
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 28,569
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