Dec, 31, 2023 — MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in LUDINGTON, MI with 1 branch location and about $6.62 million in total assets. Opened 62 years ago in 1962, MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION has about 556 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MASON COUNTY SCHOOL EMPLOYEES CREDIT UNION |
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Address: (Main Office) | 809 E Tinkham Ave LUDINGTON, MI 49431 |
Phone: | (231) 843-4066 |
Fax: | (231) 843-4066 |
Website: | n/a |
Branches: | 1 branch locations |
Members: | 556 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61696 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Nov 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $6,621,896 |
CEO/Manager: | Teresa Eriksen |
Chairperson: | Dennis Genson |
ASSETS: | $ Amount |
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Cash & Equivalents | 620,651 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 334,524 |
Other Loans | 2,311,623 |
TOTAL LOANS | 2,646,147 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -37,168 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 59,963 |
All Other Assets | 0 |
TOTAL ASSETS | 6,621,896 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,150 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 5,223,334 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 5,223,334 |
TOTAL LIABILITIES | 5,226,484 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 1,395,412 |
TOTAL EQUITY | 1,395,412 |
TOTAL LIABILITIES, SHARES, & EQUITY | 6,621,896 |
INCOME & EXPENSE | |
Loan Income | 106,056 |
Investment Income | 128,076 |
Other Income | 0 |
Total Employee Compensation & Benefits | 58,711 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 27,201 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 123,441 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 26,509 |
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