Dec, 31, 2023 — 4FRONT CREDIT UNION is a federally insured state chartered credit union headquartered in TRAVERSE CITY, MI with 21 branch locations and about $1.09 billion in total assets. Opened 70 years ago in 1954, 4FRONT CREDIT UNION has about 105,332 members and employs 289 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | 4FRONT CREDIT UNION |
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Address: (Main Office) | 101 N Park St TRAVERSE CITY, MI 49684 |
Phone: | (231) 929-2000 |
Fax: | (231) 929-7002 |
Website: | https://www.4frontcu.com |
Branches: | 21 branch locations |
Members: | 105,332 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61365 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,086,820,765 |
CEO/Manager: | Andrew Kempf |
Chairperson: | Todd Rohrback |
ASSETS: | $ Amount |
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Cash & Equivalents | 36,969,461 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 337,408,325 |
Unsecured Loans | 55,124,444 |
Other Loans | 388,753,798 |
TOTAL LOANS | 781,683,075 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,639,628 |
Land And Building | 42,887,796 |
Other Fixed Assets | 7,271,649 |
NCUSIF Deposit | 9,872,056 |
All Other Assets | 0 |
TOTAL ASSETS | 1,086,820,765 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 651,047 |
Notes & Interest Payable | 3,000,000 |
Accounts Payable & Other Liabilities | 4,118,136 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 297,202,902 |
Regular shares | 260,749,816 |
All Other Shares & Deposits | 438,559,829 |
TOTAL SHARES & DEPOSITS | 996,512,548 |
TOTAL LIABILITIES | 1,004,289,458 |
Regular Reserve | 0 |
Other Reserves | 11,582,248 |
Undivided Earnings | 70,949,059 |
TOTAL EQUITY | 82,531,307 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,086,820,765 |
INCOME & EXPENSE | |
Loan Income | 49,087,908 |
Investment Income | 3,502,302 |
Other Income | 7,272,923 |
Total Employee Compensation & Benefits | 19,914,743 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 27,576,039 |
Non-operating Income & (Expense) | 1,261,030 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,268,100 |
Cost of Funds | 13,462,221 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,682,966 |
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