Jun, 30, 2024 — MEMBERFOCUS COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in FARMINGTON, MI with 4 branch locations and about $456.55 million in total assets. Opened 89 years ago in 1935, MEMBERFOCUS COMMUNITY CREDIT UNION has about 29,259 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERFOCUS COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 22981 Farmington Rd FARMINGTON, MI 48336-3915 |
| Phone: | (248) 474-2502 |
| Fax: | |
| Website: | https://loccreditunion.com |
| Branches: | 4 branch locations |
| Members: | 29,259 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61404 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $456,549,373 |
| CEO/Manager: | Stephen Grech |
| Chairperson: | Michael Lasley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,147,868 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 76,157,659 |
| Unsecured Loans | 9,180,045 |
| Other Loans | 104,016,136 |
| TOTAL LOANS | 226,223,001 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -163,487 |
| Land And Building | 5,662,912 |
| Other Fixed Assets | 969,564 |
| NCUSIF Deposit | 4,112,234 |
| All Other Assets | 0 |
| TOTAL ASSETS | 456,549,373 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 468 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,897,409 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 101,057,292 |
| Regular shares | 204,685,859 |
| All Other Shares & Deposits | 123,402,154 |
| TOTAL SHARES & DEPOSITS | 429,145,305 |
| TOTAL LIABILITIES | 434,043,182 |
| Regular Reserve | 0 |
| Other Reserves | -5,861,846 |
| Undivided Earnings | 28,368,037 |
| TOTAL EQUITY | 22,506,191 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 456,549,373 |
| INCOME & EXPENSE | |
| Loan Income | 2,952,451 |
| Investment Income | 1,926,634 |
| Other Income | 734,794 |
| Total Employee Compensation & Benefits | 2,504,427 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,550,993 |
| Non-operating Income & (Expense) | 1,744,710 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,594 |
| Cost of Funds | 146,724 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,670,272 |
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