Sep, 30, 2025 — ELGA CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND BLANC, MI with 17 branch locations and about $1.76 billion in total assets. Opened 58 years ago in 1968, ELGA CREDIT UNION has about 109,101 members and employs 354 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ELGA CREDIT UNION |
|---|---|
| Address: (Main Office) | 6065 Grand Pointe Blvd GRAND BLANC, MI 48439 |
| Phone: | (810) 715-3542 |
| Fax: | |
| Website: | https://www.elgacu.com |
| Branches: | 17 branch locations |
| Members: | 109,101 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61797 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1968 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,762,415,556 |
| CEO/Manager: | Terry J Katzur |
| Chairperson: | Harold Mott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 213,423,985 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 427,183,844 |
| Unsecured Loans | 114,020,879 |
| Other Loans | 658,380,952 |
| TOTAL LOANS | 1,199,585,675 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -22,092,183 |
| Land And Building | 31,775,483 |
| Other Fixed Assets | 2,560,597 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 10,858,562 |
| All Other Assets | 1,778,128 |
| TOTAL ASSETS | 1,762,415,556 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 13,273,119 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 173,000,000 |
| Share Drafts | 347,163,721 |
| Regular shares | 263,503,151 |
| All Other Shares & Deposits | 706,330,193 |
| TOTAL SHARES & DEPOSITS | 1,316,997,066 |
| TOTAL LIABILITIES | 1,513,270,185 |
| Regular Reserve | 0 |
| Other Reserves | -4,121,985 |
| Undivided Earnings | 253,267,356 |
| TOTAL EQUITY | 249,145,371 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,762,415,556 |
| INCOME & EXPENSE | |
| Loan Income | 61,554,995 |
| Investment Income | 9,681,732 |
| Other Income | 12,165,145 |
| Total Employee Compensation & Benefits | 24,889,405 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 25,217,636 |
| Non-operating Income & (Expense) | 2,365,316 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,392,298 |
| Cost of Funds | 19,825,044 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 21,359,351 |
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