Jun, 30, 2024 — BIRMINGHAM-BLOOMFIELD CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, MI with 8 branch locations and about $353.82 million in total assets. Opened 93 years ago in 1931, BIRMINGHAM-BLOOMFIELD CREDIT UNION has about 23,809 members and employs 73 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BIRMINGHAM-BLOOMFIELD CREDIT UNION |
|---|---|
| Address: (Main Office) | 576 E Lincoln St BIRMINGHAM, MI 48009-1757 |
| Phone: | (248) 647-5958 |
| Fax: | (248) 647-9072 |
| Website: | https://www.michiganunitedcu.org |
| Branches: | 8 branch locations |
| Members: | 23,809 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61698 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1931 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $353,815,852 |
| CEO/Manager: | Andrew Staley |
| Chairperson: | Richard Perry |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,233,831 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 48,655,503 |
| Unsecured Loans | 11,504,307 |
| Other Loans | 113,594,042 |
| TOTAL LOANS | 173,842,018 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -334,165 |
| Land And Building | 5,717,880 |
| Other Fixed Assets | 826,130 |
| NCUSIF Deposit | 3,099,868 |
| All Other Assets | 0 |
| TOTAL ASSETS | 353,815,852 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 720 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,071,806 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 66,362,967 |
| Regular shares | 144,452,307 |
| All Other Shares & Deposits | 107,770,935 |
| TOTAL SHARES & DEPOSITS | 318,586,209 |
| TOTAL LIABILITIES | 321,658,735 |
| Regular Reserve | 0 |
| Other Reserves | 23,560,505 |
| Undivided Earnings | 8,596,612 |
| TOTAL EQUITY | 32,157,117 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 353,815,852 |
| INCOME & EXPENSE | |
| Loan Income | 4,333,530 |
| Investment Income | 1,159,596 |
| Other Income | 685,733 |
| Total Employee Compensation & Benefits | 3,855,822 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,155,327 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 202,885 |
| Cost of Funds | 156,361 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 866,794 |
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