Dec, 31, 2023 — FEDERAL EMPLOYEES OF CHIPPEWA CNTY CREDIT UNION is a federally insured state chartered credit union headquartered in SAULT SAINTE MARIE, MI with 1 branch location and about $16.86 million in total assets. Opened 67 years ago in 1957, FEDERAL EMPLOYEES OF CHIPPEWA CNTY CREDIT UNION has about 1,326 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FEDERAL EMPLOYEES OF CHIPPEWA CNTY CREDIT UNION |
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Address: (Main Office) | 119 E Water St SAULT SAINTE MARIE, MI 49783-2074 |
Phone: | (906) 632-4210 |
Fax: | (906) 632-4360 |
Website: | https://www.fecccu.com |
Branches: | 1 branch locations |
Members: | 1,326 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62105 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1957 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $16,858,458 |
CEO/Manager: | Sabrina M Oshelski |
Chairperson: | Kali Perron |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,047,302 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 46,808 |
Unsecured Loans | 612,931 |
Other Loans | 10,465,708 |
TOTAL LOANS | 11,125,447 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -66,616 |
Land And Building | 0 |
Other Fixed Assets | 7,471 |
NCUSIF Deposit | 150,045 |
All Other Assets | 0 |
TOTAL ASSETS | 16,858,458 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 457 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 311,885 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,843,267 |
Regular shares | 7,946,894 |
All Other Shares & Deposits | 4,989,316 |
TOTAL SHARES & DEPOSITS | 14,779,477 |
TOTAL LIABILITIES | 15,091,819 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 1,766,639 |
TOTAL EQUITY | 1,766,639 |
TOTAL LIABILITIES, SHARES, & EQUITY | 16,858,458 |
INCOME & EXPENSE | |
Loan Income | 474,797 |
Investment Income | 235,024 |
Other Income | 48,901 |
Total Employee Compensation & Benefits | 211,410 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 178,346 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,530 |
Cost of Funds | 41,241 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 336,275 |
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