Sep, 30, 2025 — GREAT LAKES FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in ESCANABA, MI with 2 branch locations and about $99.83 million in total assets. Opened 77 years ago in 1949, GREAT LAKES FIRST FEDERAL CREDIT UNION has about 7,455 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREAT LAKES FIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2110 3rd Ave N ESCANABA, MI 49829-2333 |
| Phone: | (906) 786-4623 |
| Fax: | (906) 786-6724 |
| Website: | https://www.glffcu.com |
| Branches: | 2 branch locations |
| Members: | 7,455 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6102 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $99,832,148 |
| CEO/Manager: | Sarah J Slagstad |
| Chairperson: | Hugo D Mattonen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,863,362 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 142,500 |
| Real Estate Loans | 15,618,933 |
| Unsecured Loans | 3,588,906 |
| Other Loans | 21,581,757 |
| TOTAL LOANS | 40,789,596 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -268,142 |
| Land And Building | 1,869,120 |
| Other Fixed Assets | 536,368 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 860,251 |
| All Other Assets | 0 |
| TOTAL ASSETS | 99,832,148 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 577,555 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,459,698 |
| Regular shares | 54,787,806 |
| All Other Shares & Deposits | 18,988,085 |
| TOTAL SHARES & DEPOSITS | 91,235,589 |
| TOTAL LIABILITIES | 91,813,144 |
| Regular Reserve | 0 |
| Other Reserves | -2,152,922 |
| Undivided Earnings | 10,171,926 |
| TOTAL EQUITY | 8,019,004 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 99,832,148 |
| INCOME & EXPENSE | |
| Loan Income | 2,241,166 |
| Investment Income | 890,694 |
| Other Income | 305,418 |
| Total Employee Compensation & Benefits | 1,170,474 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,575,378 |
| Non-operating Income & (Expense) | 28 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,932 |
| Cost of Funds | 584,656 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 540,017 |
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