Sep, 30, 2025 — WOLVERINE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in ALPENA, MI with 5 branch locations and about $162.96 million in total assets. Opened 60 years ago in 1966, WOLVERINE STATE CREDIT UNION has about 9,681 members and employs 47 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WOLVERINE STATE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1381 N Bagley St ALPENA, MI 49707-8101 |
| Phone: | (989) 356-1880 |
| Fax: | (989) 354-7826 |
| Website: | https://www.wolverinescu.com |
| Branches: | 5 branch locations |
| Members: | 9,681 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62203 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1966 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $162,959,624 |
| CEO/Manager: | Nicholas L Montie |
| Chairperson: | Randall T Boboltz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,306,680 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 55,838,219 |
| Unsecured Loans | 8,568,082 |
| Other Loans | 40,560,303 |
| TOTAL LOANS | 104,966,604 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -709,814 |
| Land And Building | 1,041,309 |
| Other Fixed Assets | 278,713 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,355,888 |
| All Other Assets | 5,756 |
| TOTAL ASSETS | 162,959,624 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,780 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,511,109 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,164,381 |
| Regular shares | 59,372,053 |
| All Other Shares & Deposits | 64,615,879 |
| TOTAL SHARES & DEPOSITS | 145,152,312 |
| TOTAL LIABILITIES | 146,665,201 |
| Regular Reserve | 0 |
| Other Reserves | 2,201,709 |
| Undivided Earnings | 14,092,714 |
| TOTAL EQUITY | 16,294,423 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 162,959,624 |
| INCOME & EXPENSE | |
| Loan Income | 4,508,305 |
| Investment Income | 1,396,014 |
| Other Income | 615,323 |
| Total Employee Compensation & Benefits | 2,325,892 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,141,147 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 42,099 |
| Cost of Funds | 1,508,709 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,158,524 |
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