Dec, 31, 2023 — ARBOR FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in KALAMAZOO, MI with 13 branch locations and about $969.39 million in total assets. Opened 89 years ago in 1935, ARBOR FINANCIAL CREDIT UNION has about 46,662 members and employs 207 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ARBOR FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1551 S 9TH ST KALAMAZOO, MI 49009-9404 |
| Phone: | (269) 375-6702 |
| Fax: | (269) 544-3488 |
| Website: | https://www.arborfcu.org |
| Branches: | 13 branch locations |
| Members: | 46,662 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61708 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $969,394,714 |
| CEO/Manager: | Julie A Blitchok |
| Chairperson: | David Aubry |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 78,849,979 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,171,245 |
| Real Estate Loans | 579,969,735 |
| Unsecured Loans | 51,180,238 |
| Other Loans | 114,904,520 |
| TOTAL LOANS | 751,772,337 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,718,613 |
| Land And Building | 20,224,602 |
| Other Fixed Assets | 2,878,027 |
| NCUSIF Deposit | 6,651,320 |
| All Other Assets | 0 |
| TOTAL ASSETS | 969,394,714 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 73,528 |
| Notes & Interest Payable | 156,000,000 |
| Accounts Payable & Other Liabilities | 10,236,050 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 169,802,009 |
| Regular shares | 238,217,039 |
| All Other Shares & Deposits | 337,076,319 |
| TOTAL SHARES & DEPOSITS | 745,095,370 |
| TOTAL LIABILITIES | 911,404,948 |
| Regular Reserve | 0 |
| Other Reserves | -20,195,150 |
| Undivided Earnings | 78,184,916 |
| TOTAL EQUITY | 57,989,766 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 969,394,714 |
| INCOME & EXPENSE | |
| Loan Income | 33,473,675 |
| Investment Income | 3,330,265 |
| Other Income | 6,348,844 |
| Total Employee Compensation & Benefits | 15,710,312 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 15,518,541 |
| Non-operating Income & (Expense) | 574,254 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,413,109 |
| Cost of Funds | 12,564,480 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,987,008 |
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