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National Credit Union Service Organization

FIRST AREA CREDIT UNION

Mar, 31, 2021 — FIRST AREA CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 2 branch locations and about $39.58 million in total assets. Opened 60 years ago in 1961, FIRST AREA CREDIT UNION has about 3,733 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272484535
Name:FIRST AREA CREDIT UNION
Address:
(Main Office)
193 CAMPBELL LN
SAGINAW, MI 48609
Phone:(989) 781-1430
Fax:(989) 781-5202
Website:http://www.firstareacu.com
Branches:2 branch locations
Members:3,733
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$39,576,816
CEO/Manager:Lynn Mccoy
Chairperson:Cari Shanks

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,658,667
TOTAL INVESTMENTS 14,530,360
Loans Held for Sale 0
 
 Real Estate Loans 4,173,100
 Unsecured Loans 383,915
 Other Loans 11,586,560
 TOTAL LOANS 16,143,575
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -140,984
 Land And Building 971,575
 Other Fixed Assets 38,568
 NCUSIF Deposit 267,340
 All Other Assets 107,715
  TOTAL ASSETS 39,576,816
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 26,588
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,726,620
 Regular shares 21,045,537
 All Other Shares & Deposits 9,148,675
  TOTAL SHARES & DEPOSITS 35,920,832
  TOTAL LIABILITIES 35,947,420
 Regular Reserve 401,676
 Other Reserves -97,175
 Undivided Earnings 3,324,895
  TOTAL EQUITY 3,629,396
  TOTAL LIABILITIES, SHARES, & EQUITY 39,576,816
INCOME & EXPENSE  
 Loan Income 209,319
 Investment Income 51,018
 Other Income 76,766
 Total Employee Compensation & Benefits 119,734
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 188,372
 Non-operating Income & (Expense) -423
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 22,253
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 12,443
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