Sep, 30, 2025 — FIRST AREA CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 2 branch locations and about $37.32 million in total assets. Opened 65 years ago in 1961, FIRST AREA CREDIT UNION has about 2,896 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST AREA CREDIT UNION |
|---|---|
| Address: (Main Office) | 193 Campbell Ln SAGINAW, MI 48609 |
| Phone: | (989) 781-1430 |
| Fax: | (989) 781-5202 |
| Website: | https://www.firstareacu.com |
| Branches: | 2 branch locations |
| Members: | 2,896 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61756 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $37,317,870 |
| CEO/Manager: | Lynn Mccoy |
| Chairperson: | James Theisen JR |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,614,603 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,034,063 |
| Unsecured Loans | 414,153 |
| Other Loans | 8,272,236 |
| TOTAL LOANS | 17,720,452 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -56,810 |
| Land And Building | 689,736 |
| Other Fixed Assets | 203,907 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 363,933 |
| All Other Assets | 0 |
| TOTAL ASSETS | 37,317,870 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 24,318 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,770,764 |
| Regular shares | 18,556,716 |
| All Other Shares & Deposits | 9,919,433 |
| TOTAL SHARES & DEPOSITS | 34,246,913 |
| TOTAL LIABILITIES | 34,271,231 |
| Regular Reserve | 0 |
| Other Reserves | -925,589 |
| Undivided Earnings | 3,972,228 |
| TOTAL EQUITY | 3,046,639 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 37,317,870 |
| INCOME & EXPENSE | |
| Loan Income | 772,071 |
| Investment Income | 352,019 |
| Other Income | 219,233 |
| Total Employee Compensation & Benefits | 367,082 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 643,200 |
| Non-operating Income & (Expense) | -1,685 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -6,294 |
| Cost of Funds | 229,011 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 123,065 |
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