Sep, 30, 2025 — SAFE HARBOR CREDIT UNION is a federally insured state chartered credit union headquartered in LUDINGTON, MI with 1 branch location and about $184.83 million in total assets. Opened 74 years ago in 1952, SAFE HARBOR CREDIT UNION has about 9,034 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SAFE HARBOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 5511 W US Highway 10 LUDINGTON, MI 49431-2455 |
| Phone: | (231) 843-2323 |
| Fax: | (231) 845-7654 |
| Website: | https://www.safeharborcu.org |
| Branches: | 1 branch locations |
| Members: | 9,034 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61988 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $184,827,807 |
| CEO/Manager: | Adam Johnson |
| Chairperson: | David M Kasley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,239,527 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 106,866,638 |
| Unsecured Loans | 5,700,333 |
| Other Loans | 35,374,813 |
| TOTAL LOANS | 151,164,765 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,004,635 |
| Land And Building | 4,791,137 |
| Other Fixed Assets | 533,336 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,341,101 |
| All Other Assets | 7,950 |
| TOTAL ASSETS | 184,827,807 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 195,599 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 405,932 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 30,677,958 |
| Regular shares | 48,498,710 |
| All Other Shares & Deposits | 88,143,729 |
| TOTAL SHARES & DEPOSITS | 167,320,397 |
| TOTAL LIABILITIES | 167,921,928 |
| Regular Reserve | 0 |
| Other Reserves | 677,751 |
| Undivided Earnings | 16,228,128 |
| TOTAL EQUITY | 16,905,879 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 184,827,807 |
| INCOME & EXPENSE | |
| Loan Income | 7,450,997 |
| Investment Income | 703,259 |
| Other Income | 504,432 |
| Total Employee Compensation & Benefits | 2,192,787 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,177,857 |
| Non-operating Income & (Expense) | -38,302 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 302,341 |
| Cost of Funds | 2,966,410 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,460,121 |
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