Dec, 31, 2023 — GRATIOT COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in ALMA, MI with 3 branch locations and about $54.94 million in total assets. Opened 69 years ago in 1955, GRATIOT COMMUNITY CREDIT UNION has about 6,691 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GRATIOT COMMUNITY CREDIT UNION |
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Address: (Main Office) | 211 W Center St ALMA, MI 48801-2206 |
Phone: | (989) 463-8321 |
Fax: | (989) 463-8324 |
Website: | https://www.gratiotcu.org |
Branches: | 3 branch locations |
Members: | 6,691 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61986 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $54,939,818 |
CEO/Manager: | Katina Struble |
Chairperson: | Sonia Gibson |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,763,031 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,058,990 |
Unsecured Loans | 3,355,101 |
Other Loans | 30,350,465 |
TOTAL LOANS | 43,764,556 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -282,203 |
Land And Building | 2,545,106 |
Other Fixed Assets | 176,250 |
NCUSIF Deposit | 495,228 |
All Other Assets | 0 |
TOTAL ASSETS | 54,939,818 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 13,786 |
Notes & Interest Payable | 822,239 |
Accounts Payable & Other Liabilities | 921,236 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 10,758,787 |
Regular shares | 19,636,249 |
All Other Shares & Deposits | 18,759,109 |
TOTAL SHARES & DEPOSITS | 49,154,144 |
TOTAL LIABILITIES | 50,911,405 |
Regular Reserve | 0 |
Other Reserves | -144,713 |
Undivided Earnings | 4,173,126 |
TOTAL EQUITY | 4,028,413 |
TOTAL LIABILITIES, SHARES, & EQUITY | 54,939,818 |
INCOME & EXPENSE | |
Loan Income | 2,288,930 |
Investment Income | 179,497 |
Other Income | 519,953 |
Total Employee Compensation & Benefits | 1,128,254 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,224,677 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 407,672 |
Cost of Funds | 343,905 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 176,811 |
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» See also Statement of Financial Condition