Sep, 30, 2025 — MEMBERS FIRST CREDIT UNION is a federally insured state chartered credit union headquartered in MIDLAND, MI with 11 branch locations and about $878.44 million in total assets. Opened 90 years ago in 1936, MEMBERS FIRST CREDIT UNION has about 67,375 members and employs 242 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS FIRST CREDIT UNION |
|---|---|
| Address: (Main Office) | 600 W Wackerly St MIDLAND, MI 48640-4702 |
| Phone: | (855) 835-6328 |
| Fax: | (989) 835-5202 |
| Website: | https://www.mfcu.net |
| Branches: | 11 branch locations |
| Members: | 67,375 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62076 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Jun 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $878,441,517 |
| CEO/Manager: | Carrie Iafrate |
| Chairperson: | Kevin Brott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 53,334,720 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 196,077,911 |
| Unsecured Loans | 104,528,062 |
| Other Loans | 343,596,821 |
| TOTAL LOANS | 649,025,445 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,694,564 |
| Land And Building | 14,737,964 |
| Other Fixed Assets | 2,799,186 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 6,787,279 |
| All Other Assets | 449,205 |
| TOTAL ASSETS | 878,441,517 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 9,146,611 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 146,482,645 |
| Regular shares | 144,160,179 |
| All Other Shares & Deposits | 466,889,264 |
| TOTAL SHARES & DEPOSITS | 757,532,088 |
| TOTAL LIABILITIES | 806,678,699 |
| Regular Reserve | 0 |
| Other Reserves | 10,410,650 |
| Undivided Earnings | 61,352,168 |
| TOTAL EQUITY | 71,762,818 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 878,441,517 |
| INCOME & EXPENSE | |
| Loan Income | 33,780,078 |
| Investment Income | 3,639,129 |
| Other Income | 4,687,759 |
| Total Employee Compensation & Benefits | 16,081,313 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 14,355,436 |
| Non-operating Income & (Expense) | 86,515 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,131,165 |
| Cost of Funds | 10,816,683 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,387,512 |
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