Dec, 31, 2023 — FARM BUREAU FAMILY CREDIT UNION is a federally insured state chartered credit union headquartered in LANSING, MI with 1 branch location and about $22.61 million in total assets. Opened 90 years ago in 1934, FARM BUREAU FAMILY CREDIT UNION has about 1,785 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FARM BUREAU FAMILY CREDIT UNION |
|---|---|
| Address: (Main Office) | 7373 W Saginaw Hwy LANSING, MI 48917-1124 |
| Phone: | (517) 679-5274 |
| Fax: | |
| Website: | https://www.farmbureaufamilycu.org |
| Branches: | 1 branch locations |
| Members: | 1,785 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62330 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $22,609,675 |
| CEO/Manager: | Brandon L Bussa |
| Chairperson: | Nicholas W Ottney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 861,927 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 110,070 |
| Unsecured Loans | 2,021,195 |
| Other Loans | 13,309,032 |
| TOTAL LOANS | 15,440,297 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -96,907 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 206,475 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,609,675 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,798 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,205,251 |
| Regular shares | 5,197,144 |
| All Other Shares & Deposits | 11,852,195 |
| TOTAL SHARES & DEPOSITS | 20,254,590 |
| TOTAL LIABILITIES | 20,257,388 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,352,287 |
| TOTAL EQUITY | 2,352,287 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,609,675 |
| INCOME & EXPENSE | |
| Loan Income | 798,686 |
| Investment Income | 208,010 |
| Other Income | 61,761 |
| Total Employee Compensation & Benefits | 416,329 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 378,650 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 28,000 |
| Cost of Funds | 134,805 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 173,080 |
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