Sep, 30, 2025 — BEST FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in MUSKEGON, MI with 2 branch locations and about $141.76 million in total assets. Opened 71 years ago in 1955, BEST FINANCIAL CREDIT UNION has about 13,754 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEST FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1888 E Sherman Blvd MUSKEGON, MI 49444-1822 |
| Phone: | (231) 733-1329 |
| Fax: | (231) 737-1425 |
| Website: | https://www.bestfinancialcu.org |
| Branches: | 2 branch locations |
| Members: | 13,754 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62027 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $141,760,783 |
| CEO/Manager: | Morgan Rescorla |
| Chairperson: | Shontaye Witcher |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,315,964 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 42,560,725 |
| Unsecured Loans | 8,130,554 |
| Other Loans | 53,409,716 |
| TOTAL LOANS | 104,148,440 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -982,086 |
| Land And Building | 2,081,407 |
| Other Fixed Assets | 390,489 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,117,105 |
| All Other Assets | 91,097 |
| TOTAL ASSETS | 141,760,783 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 295 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 980,346 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,797,757 |
| Regular shares | 55,586,167 |
| All Other Shares & Deposits | 43,318,413 |
| TOTAL SHARES & DEPOSITS | 117,702,337 |
| TOTAL LIABILITIES | 118,682,978 |
| Regular Reserve | 0 |
| Other Reserves | 86,635 |
| Undivided Earnings | 22,991,170 |
| TOTAL EQUITY | 23,077,805 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 141,760,783 |
| INCOME & EXPENSE | |
| Loan Income | 4,581,424 |
| Investment Income | 612,388 |
| Other Income | 1,006,071 |
| Total Employee Compensation & Benefits | 2,517,405 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,866,665 |
| Non-operating Income & (Expense) | 2,946 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 445,739 |
| Cost of Funds | 1,468,321 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 223,803 |
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