Dec, 31, 2023 — KENT COUNTY CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND RAPIDS, MI with 2 branch locations and about $72.22 million in total assets. Opened 68 years ago in 1956, KENT COUNTY CREDIT UNION has about 5,088 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KENT COUNTY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1619 Plainfield AVE NE GRAND RAPIDS, MI 49505-4703 |
| Phone: | (616) 336-3490 |
| Fax: | (616) 363-3666 |
| Website: | https://www.intandemcu.com |
| Branches: | 2 branch locations |
| Members: | 5,088 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62249 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $72,219,761 |
| CEO/Manager: | Kristen Plichta |
| Chairperson: | Jon Denhof |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,181,877 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 24,105,383 |
| Unsecured Loans | 3,265,783 |
| Other Loans | 15,388,080 |
| TOTAL LOANS | 42,759,246 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -191,017 |
| Land And Building | 3,737,819 |
| Other Fixed Assets | 354,061 |
| NCUSIF Deposit | 627,240 |
| All Other Assets | 103,109 |
| TOTAL ASSETS | 72,219,761 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 18,815 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 439,039 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,612,347 |
| Regular shares | 22,161,981 |
| All Other Shares & Deposits | 32,321,829 |
| TOTAL SHARES & DEPOSITS | 64,096,157 |
| TOTAL LIABILITIES | 64,554,011 |
| Regular Reserve | 0 |
| Other Reserves | 838,655 |
| Undivided Earnings | 6,827,095 |
| TOTAL EQUITY | 7,665,750 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 72,219,761 |
| INCOME & EXPENSE | |
| Loan Income | 2,253,210 |
| Investment Income | 530,001 |
| Other Income | 555,509 |
| Total Employee Compensation & Benefits | 1,505,317 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,367,815 |
| Non-operating Income & (Expense) | -7 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 91,254 |
| Cost of Funds | 372,365 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 490,539 |
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