Dec, 31, 2023 — FINANCIALEDGE COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in BAY CITY, MI with 2 branch locations and about $122.19 million in total assets. Opened 74 years ago in 1950, FINANCIALEDGE COMMUNITY CREDIT UNION has about 8,943 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FINANCIALEDGE COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1199 S Euclid Ave BAY CITY, MI 48706 |
| Phone: | (989) 892-6088 |
| Fax: | (989) 460-3194 |
| Website: | https://www.financialedgeccu.org |
| Branches: | 2 branch locations |
| Members: | 8,943 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61619 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $122,192,163 |
| CEO/Manager: | Jeremy L Coberley |
| Chairperson: | Norma Felker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,419,721 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 44,309,456 |
| Unsecured Loans | 7,260,167 |
| Other Loans | 26,146,984 |
| TOTAL LOANS | 77,868,349 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -509,194 |
| Land And Building | 2,549,956 |
| Other Fixed Assets | 210,030 |
| NCUSIF Deposit | 1,071,930 |
| All Other Assets | 5,700 |
| TOTAL ASSETS | 122,192,163 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 17,529 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 774,251 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,150,483 |
| Regular shares | 49,215,638 |
| All Other Shares & Deposits | 39,935,074 |
| TOTAL SHARES & DEPOSITS | 107,301,195 |
| TOTAL LIABILITIES | 108,092,975 |
| Regular Reserve | 0 |
| Other Reserves | -597,105 |
| Undivided Earnings | 14,696,293 |
| TOTAL EQUITY | 14,099,188 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 122,192,163 |
| INCOME & EXPENSE | |
| Loan Income | 4,024,351 |
| Investment Income | 1,333,559 |
| Other Income | 874,590 |
| Total Employee Compensation & Benefits | 2,472,371 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,653,956 |
| Non-operating Income & (Expense) | 56 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 80,300 |
| Cost of Funds | 613,875 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,479,933 |
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