Sep, 30, 2025 — COMPASS CREDIT UNION is a federally insured state chartered credit union headquartered in SPARTA, MI with 2 branch locations and about $96.83 million in total assets. Opened 70 years ago in 1956, COMPASS CREDIT UNION has about 7,538 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMPASS CREDIT UNION |
|---|---|
| Address: (Main Office) | 485 S State St SPARTA, MI 49345-1549 |
| Phone: | (616) 887-8262 |
| Fax: | (616) 887-9080 |
| Website: | https://www.compasscu.com/www.compas |
| Branches: | 2 branch locations |
| Members: | 7,538 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62040 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $96,832,343 |
| CEO/Manager: | Erika k Garrison |
| Chairperson: | William s Montgomery |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,103,941 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 18,046,311 |
| Unsecured Loans | 4,401,818 |
| Other Loans | 26,165,422 |
| TOTAL LOANS | 48,941,670 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -752,640 |
| Land And Building | 2,377,659 |
| Other Fixed Assets | 403,023 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 868,408 |
| All Other Assets | 0 |
| TOTAL ASSETS | 96,832,343 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,580 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 88,854 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,583,297 |
| Regular shares | 35,876,588 |
| All Other Shares & Deposits | 25,353,812 |
| TOTAL SHARES & DEPOSITS | 87,813,696 |
| TOTAL LIABILITIES | 87,912,130 |
| Regular Reserve | 0 |
| Other Reserves | -35,867 |
| Undivided Earnings | 8,956,080 |
| TOTAL EQUITY | 8,920,213 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 96,832,343 |
| INCOME & EXPENSE | |
| Loan Income | 2,316,120 |
| Investment Income | 1,215,167 |
| Other Income | 535,373 |
| Total Employee Compensation & Benefits | 1,302,766 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,892,678 |
| Non-operating Income & (Expense) | 13,807 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -84,434 |
| Cost of Funds | 875,934 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 730,377 |
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