Sep, 30, 2025 — MICHIGAN COASTAL CREDIT UNION is a federally insured state chartered credit union headquartered in MUSKEGON, MI with 2 branch locations and about $26.29 million in total assets. Opened 68 years ago in 1958, MICHIGAN COASTAL CREDIT UNION has about 2,502 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MICHIGAN COASTAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1086 Creston St MUSKEGON, MI 49442 |
| Phone: | (231) 777-3620 |
| Fax: | (231) 777-3727 |
| Website: | https://www.michigancoastal.com |
| Branches: | 2 branch locations |
| Members: | 2,502 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61631 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Jan 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $26,289,930 |
| CEO/Manager: | Rob Viland |
| Chairperson: | Wayne Ferrier |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,934,341 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,279,852 |
| Unsecured Loans | 2,574,413 |
| Other Loans | 4,437,066 |
| TOTAL LOANS | 23,291,330 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -426,506 |
| Land And Building | 302,298 |
| Other Fixed Assets | 99,831 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 234,848 |
| All Other Assets | 123,257 |
| TOTAL ASSETS | 26,289,930 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 23,326 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 151,606 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,597,490 |
| Regular shares | 6,273,638 |
| All Other Shares & Deposits | 15,130,185 |
| TOTAL SHARES & DEPOSITS | 24,001,312 |
| TOTAL LIABILITIES | 24,176,244 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,113,686 |
| TOTAL EQUITY | 2,113,686 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 26,289,930 |
| INCOME & EXPENSE | |
| Loan Income | 1,229,261 |
| Investment Income | 58,172 |
| Other Income | 174,316 |
| Total Employee Compensation & Benefits | 382,053 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 683,113 |
| Non-operating Income & (Expense) | -20,872 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 203,605 |
| Cost of Funds | 431,573 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -48,931 |
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