Dec, 31, 2023 — DIRECTIONS CREDIT UNION is a federally insured state chartered credit union headquartered in TOLEDO, OH with 21 branch locations and about $1.21 billion in total assets. Opened 71 years ago in 1953, DIRECTIONS CREDIT UNION has about 95,334 members and employs 299 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DIRECTIONS CREDIT UNION |
|---|---|
| Address: (Main Office) | 200 N Saint Clair St Ste 1600 TOLEDO, OH 43604-1549 |
| Phone: | (419) 841-9838 |
| Fax: | |
| Website: | https://www.directionscu.org |
| Branches: | 21 branch locations |
| Members: | 95,334 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60978 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,208,727,342 |
| CEO/Manager: | Barry Shaner |
| Chairperson: | Jay Malcolm |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 67,846,869 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 481,773,912 |
| Unsecured Loans | 78,396,171 |
| Other Loans | 442,425,348 |
| TOTAL LOANS | 1,003,838,964 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,081,217 |
| Land And Building | 7,811,231 |
| Other Fixed Assets | 13,442,611 |
| NCUSIF Deposit | 10,184,056 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,208,727,342 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 43,974,482 |
| Accounts Payable & Other Liabilities | 33,766,303 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 239,643,974 |
| Regular shares | 363,686,014 |
| All Other Shares & Deposits | 417,562,942 |
| TOTAL SHARES & DEPOSITS | 1,020,892,930 |
| TOTAL LIABILITIES | 1,098,633,715 |
| Regular Reserve | 0 |
| Other Reserves | 17,784,895 |
| Undivided Earnings | 92,308,732 |
| TOTAL EQUITY | 110,093,627 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,208,727,342 |
| INCOME & EXPENSE | |
| Loan Income | 46,726,788 |
| Investment Income | 2,753,119 |
| Other Income | 5,046,649 |
| Total Employee Compensation & Benefits | 21,685,536 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 23,974,718 |
| Non-operating Income & (Expense) | -18,594 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,615,000 |
| Cost of Funds | 7,184,620 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,569,820 |
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