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THORNAPPLE CREDIT UNION

Dec, 31, 2023 — THORNAPPLE CREDIT UNION is a federally insured state chartered credit union headquartered in HASTINGS, MI with 3 branch locations and about $66.38 million in total assets. Opened 60 years ago in 1964, THORNAPPLE CREDIT UNION has about 7,942 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:THORNAPPLE CREDIT UNION
Address:
(Main Office)
202 E Woodlawn Ave
HASTINGS, MI 49058
Phone:(269) 948-8369
Fax:(269) 948-9431
Website:https://www.thornapplecu.com
Branches:3 branch locations
Members:7,942
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62196
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1964
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$66,384,520
CEO/Manager:Amy L Byers
Chairperson:Jeffrey Keessen

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,361,910
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 18,599,087
 Unsecured Loans 5,074,680
 Other Loans 31,285,928
 TOTAL LOANS 54,959,695
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -423,474
 Land And Building 1,100,806
 Other Fixed Assets 280,968
 NCUSIF Deposit 567,326
 All Other Assets 0
  TOTAL ASSETS 66,384,520
LIABILITIES & CAPITAL:  
 Dividends Payable 12,003
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,219,792
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 12,934,273
 Regular shares 27,606,088
 All Other Shares & Deposits 19,140,653
  TOTAL SHARES & DEPOSITS 59,681,014
  TOTAL LIABILITIES 60,912,809
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 5,471,711
  TOTAL EQUITY 5,471,711
  TOTAL LIABILITIES, SHARES, & EQUITY 66,384,520
INCOME & EXPENSE  
 Loan Income 2,836,634
 Investment Income 166,491
 Other Income 856,449
 Total Employee Compensation & Benefits 1,403,168
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,899,367
 Non-operating Income & (Expense) -883
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 80,574
 Cost of Funds 256,953
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 846,780
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