Sep, 30, 2025 — U.P. STATE CREDIT UNION is a federally insured state chartered credit union headquartered in ESCANABA, MI with 6 branch locations and about $202.36 million in total assets. Opened 71 years ago in 1955, U.P. STATE CREDIT UNION has about 15,409 members and employs 60 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | U.P. STATE CREDIT UNION |
|---|---|
| Address: (Main Office) | 123 S Lincoln Rd ESCANABA, MI 49829-1339 |
| Phone: | (906) 786-1146 |
| Fax: | (906) 786-0269 |
| Website: | https://www.upscu.com |
| Branches: | 6 branch locations |
| Members: | 15,409 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62085 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $202,362,788 |
| CEO/Manager: | Raymond J Theoret |
| Chairperson: | Howard Haulotte |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 21,198,498 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 41,146,866 |
| Unsecured Loans | 10,033,266 |
| Other Loans | 67,942,345 |
| TOTAL LOANS | 119,462,774 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -298,998 |
| Land And Building | 4,530,183 |
| Other Fixed Assets | 666,706 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,709,700 |
| All Other Assets | 0 |
| TOTAL ASSETS | 202,362,788 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,612 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,240,255 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 39,302,041 |
| Regular shares | 101,793,178 |
| All Other Shares & Deposits | 35,087,122 |
| TOTAL SHARES & DEPOSITS | 176,182,341 |
| TOTAL LIABILITIES | 177,473,208 |
| Regular Reserve | 0 |
| Other Reserves | 9,807,407 |
| Undivided Earnings | 15,082,173 |
| TOTAL EQUITY | 24,889,580 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 202,362,788 |
| INCOME & EXPENSE | |
| Loan Income | 5,753,995 |
| Investment Income | 1,941,257 |
| Other Income | 641,169 |
| Total Employee Compensation & Benefits | 2,938,401 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 3,882,738 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 84,094 |
| Cost of Funds | 708,241 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,703,653 |
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