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National Credit Union Service Organization

OUR CREDIT UNION

Dec, 31, 2023 — OUR CREDIT UNION is a federally insured state chartered credit union headquartered in ROYAL OAK, MI with 5 branch locations and about $364.50 million in total assets. Opened 65 years ago in 1959, OUR CREDIT UNION has about 23,930 members and employs 86 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272484373
Name:OUR CREDIT UNION
Address:
(Main Office)
3070 Normandy Rd
ROYAL OAK, MI 48073
Phone:(248) 549-3838
Fax:(248) 549-0203
Website:https://www.ourcuonline.org
Branches:5 branch locations
Members:23,930
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62028
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1959
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$364,503,538
CEO/Manager:Darren Cameron
Chairperson:Tom Cardelli

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 33,590,340
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 87,987,645
 Unsecured Loans 25,805,181
 Other Loans 106,698,976
 TOTAL LOANS 220,491,802
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,564,396
 Land And Building 5,356,019
 Other Fixed Assets 1,090,520
 NCUSIF Deposit 3,371,925
 All Other Assets 305,667
  TOTAL ASSETS 364,503,538
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 5,000,000
 Accounts Payable & Other Liabilities 3,047,006
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 75,780,772
 Regular shares 159,428,812
 All Other Shares & Deposits 104,314,863
  TOTAL SHARES & DEPOSITS 339,524,447
  TOTAL LIABILITIES 347,571,453
 Regular Reserve 0
 Other Reserves -12,349,286
 Undivided Earnings 29,281,371
  TOTAL EQUITY 16,932,085
  TOTAL LIABILITIES, SHARES, & EQUITY 364,503,538
INCOME & EXPENSE  
 Loan Income 11,763,193
 Investment Income 3,136,982
 Other Income 2,197,966
 Total Employee Compensation & Benefits 6,113,011
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,989,722
 Non-operating Income & (Expense) -350
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,691,281
 Cost of Funds 2,611,192
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,572,448
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