Dec, 31, 2023 — PARKSIDE CREDIT UNION is a federally insured state chartered credit union headquartered in WESTLAND, MI with 3 branch locations and about $170.21 million in total assets. Opened 71 years ago in 1953, PARKSIDE CREDIT UNION has about 13,414 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | PARKSIDE CREDIT UNION |
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Address: (Main Office) | 1747 S NEWBURGH RD WESTLAND, MI 48186 |
Phone: | (734) 525-0700 |
Fax: | (734) 728-4749 |
Website: | https://www.parksidecu.org |
Branches: | 3 branch locations |
Members: | 13,414 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61985 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $170,210,658 |
CEO/Manager: | JANET B THOMPSON |
Chairperson: | WILLIAM SACKETT |
ASSETS: | $ Amount |
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Cash & Equivalents | 12,038,862 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 54,489,975 |
Unsecured Loans | 21,718,299 |
Other Loans | 21,793,568 |
TOTAL LOANS | 98,001,842 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,717,760 |
Land And Building | 4,395,712 |
Other Fixed Assets | 1,196,971 |
NCUSIF Deposit | 1,529,625 |
All Other Assets | 12,670 |
TOTAL ASSETS | 170,210,658 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 5,794 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 3,419,897 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 31,413,362 |
Regular shares | 66,119,364 |
All Other Shares & Deposits | 52,915,166 |
TOTAL SHARES & DEPOSITS | 150,447,892 |
TOTAL LIABILITIES | 153,873,583 |
Regular Reserve | 0 |
Other Reserves | -3,681,460 |
Undivided Earnings | 20,018,535 |
TOTAL EQUITY | 16,337,075 |
TOTAL LIABILITIES, SHARES, & EQUITY | 170,210,658 |
INCOME & EXPENSE | |
Loan Income | 6,414,576 |
Investment Income | 1,349,338 |
Other Income | 2,716,221 |
Total Employee Compensation & Benefits | 4,310,111 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 6,916,174 |
Non-operating Income & (Expense) | -3,077 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 960,381 |
Cost of Funds | 968,399 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -262,495 |
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