Dec, 31, 2023 — ONE DETROIT CREDIT UNION is a federally insured state chartered credit union headquartered in DETROIT, MI with 3 branch locations and about $59.82 million in total assets. Opened 89 years ago in 1935, ONE DETROIT CREDIT UNION has about 11,609 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ONE DETROIT CREDIT UNION |
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Address: (Main Office) | 630 Howard St DETROIT, MI 48226 |
Phone: | (313) 965-8640 |
Fax: | (313) 965-0455 |
Website: | https://www.onedetroitcu.org |
Branches: | 3 branch locations |
Members: | 11,609 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61495 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $59,821,765 |
CEO/Manager: | Hank Hubbard |
Chairperson: | Anne Zobel |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,990,727 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 11,697,694 |
Unsecured Loans | 9,730,140 |
Other Loans | 13,240,729 |
TOTAL LOANS | 34,668,563 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,465,868 |
Land And Building | 370,855 |
Other Fixed Assets | 295,567 |
NCUSIF Deposit | 427,723 |
All Other Assets | 0 |
TOTAL ASSETS | 59,821,765 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 67 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,158,416 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 922,000 |
Share Drafts | 8,974,950 |
Regular shares | 19,887,179 |
All Other Shares & Deposits | 15,312,818 |
TOTAL SHARES & DEPOSITS | 44,174,946 |
TOTAL LIABILITIES | 46,255,429 |
Regular Reserve | 0 |
Other Reserves | -1,315,776 |
Undivided Earnings | 14,882,112 |
TOTAL EQUITY | 13,566,336 |
TOTAL LIABILITIES, SHARES, & EQUITY | 59,821,765 |
INCOME & EXPENSE | |
Loan Income | 3,081,736 |
Investment Income | 709,016 |
Other Income | 3,041,984 |
Total Employee Compensation & Benefits | 3,753,037 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,135,627 |
Non-operating Income & (Expense) | 8,341,211 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,169,789 |
Cost of Funds | 145,729 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,756,454 |
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