Dec, 31, 2023 — PEOPLE DRIVEN CREDIT UNION is a federally insured state chartered credit union headquartered in SOUTHFIELD, MI with 5 branch locations and about $456.89 million in total assets. Opened 96 years ago in 1928, PEOPLE DRIVEN CREDIT UNION has about 26,734 members and employs 111 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PEOPLE DRIVEN CREDIT UNION |
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Address: (Main Office) | 24333 Lahser Rd SOUTHFIELD, MI 48033-6041 |
Phone: | (248) 263-4100 |
Fax: | (248) 263-4107 |
Website: | https://www.peopledrivencu.org |
Branches: | 5 branch locations |
Members: | 26,734 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61068 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1928 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $456,890,223 |
CEO/Manager: | Renee DeMarco |
Chairperson: | Karen Sanborn |
ASSETS: | $ Amount |
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Cash & Equivalents | 37,535,483 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 128,929,109 |
Unsecured Loans | 42,238,762 |
Other Loans | 123,951,943 |
TOTAL LOANS | 295,712,058 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,050,863 |
Land And Building | 12,699,831 |
Other Fixed Assets | 971,153 |
NCUSIF Deposit | 3,881,088 |
All Other Assets | 0 |
TOTAL ASSETS | 456,890,223 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 30,000,000 |
Accounts Payable & Other Liabilities | 4,130,314 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 87,189,737 |
Regular shares | 202,390,902 |
All Other Shares & Deposits | 103,593,528 |
TOTAL SHARES & DEPOSITS | 393,174,166 |
TOTAL LIABILITIES | 427,304,480 |
Regular Reserve | 0 |
Other Reserves | -1,954,786 |
Undivided Earnings | 31,540,529 |
TOTAL EQUITY | 29,585,743 |
TOTAL LIABILITIES, SHARES, & EQUITY | 456,890,223 |
INCOME & EXPENSE | |
Loan Income | 17,948,476 |
Investment Income | 2,862,307 |
Other Income | 3,583,394 |
Total Employee Compensation & Benefits | 9,549,644 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,995,553 |
Non-operating Income & (Expense) | 1,907,214 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,103,125 |
Cost of Funds | 2,445,520 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,299,464 |
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