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National Credit Union Service Organization

FEDERAL EMPLOYEES OF CHIPPEWA CNTY CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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