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National Credit Union Service Organization

MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION

Mar, 31, 2022 — MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION is a federally insured state chartered credit union headquartered in CLINTON TOWNSHIP, MI with 20 branch locations and about $3.15 billion in total assets. Opened 68 years ago in 1954, MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION has about 137,204 members and employs 383 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: 272480173
Name:MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION
Address:
(Main Office)
40400 Garfield Rd
CLINTON TOWNSHIP, MI 48038-4004
Phone:(586) 263-8800
Fax:(586) 286-2638
Website:http://www.msgcu.org
Branches:20 branch locations
Members:137,204
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62049
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$3,149,423,711
CEO/Manager:Peter D Gates
Chairperson:William F Cayen

Call Report

  • First Time Homebuyer Program
  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 236,700,325
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,367,813,281
 Unsecured Loans 120,666,766
 Other Loans 970,733,013
 TOTAL LOANS 2,459,345,168
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -18,963,622
 Land And Building 52,593,609
 Other Fixed Assets 8,344,380
 NCUSIF Deposit 23,284,641
 All Other Assets 445,386
  TOTAL ASSETS 3,149,423,711
LIABILITIES & CAPITAL:  
 Dividends Payable 625
 Notes & Interest Payable 60,059,122
 Accounts Payable & Other Liabilities 12,918,598
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 298,309,679
 Regular shares 374,574,163
 All Other Shares & Deposits 2,032,364,834
  TOTAL SHARES & DEPOSITS 2,705,248,676
  TOTAL LIABILITIES 2,778,227,021
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 371,196,690
  TOTAL EQUITY 371,196,690
  TOTAL LIABILITIES, SHARES, & EQUITY 3,149,423,711
INCOME & EXPENSE  
 Loan Income 22,816,336
 Investment Income 1,342,089
 Other Income 1,608,592
 Total Employee Compensation & Benefits 9,277,519
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,092,348
 Non-operating Income & (Expense) 6,481
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 2,907,346
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,538,896
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