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 |
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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 |
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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 |
ASSETS: | $ Amount |
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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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