Jun, 30, 2024 — ZEAL CREDIT UNION is a federally insured state chartered credit union headquartered in LIVONIA, MI with 14 branch locations and about $841.43 million in total assets. Opened 70 years ago in 1954, ZEAL CREDIT UNION has about 67,041 members and employs 142 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ZEAL CREDIT UNION |
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Address: (Main Office) | 17250 Newburgh Rd LIVONIA, MI 48152-2618 |
Phone: | (734) 522-3700 |
Fax: | (734) 466-6151 |
Website: | https://www.zealcu.org |
Branches: | 14 branch locations |
Members: | 67,041 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62426 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2021 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $841,432,888 |
CEO/Manager: | Julie Kreinbring |
Chairperson: | Michael A O'Hehir |
ASSETS: | $ Amount |
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Cash & Equivalents | 154,283,837 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 265,624,741 |
Unsecured Loans | 87,217,233 |
Other Loans | 146,959,304 |
TOTAL LOANS | 499,801,278 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,452,768 |
Land And Building | 16,975,745 |
Other Fixed Assets | 1,367,850 |
NCUSIF Deposit | 6,977,935 |
All Other Assets | 344,764 |
TOTAL ASSETS | 841,432,888 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 4,049 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 7,341,664 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 5,000,000 |
Share Drafts | 150,147,597 |
Regular shares | 356,658,585 |
All Other Shares & Deposits | 218,141,855 |
TOTAL SHARES & DEPOSITS | 724,948,037 |
TOTAL LIABILITIES | 737,293,750 |
Regular Reserve | 0 |
Other Reserves | -6,696,453 |
Undivided Earnings | 110,835,591 |
TOTAL EQUITY | 104,139,138 |
TOTAL LIABILITIES, SHARES, & EQUITY | 841,432,888 |
INCOME & EXPENSE | |
Loan Income | 16,140,182 |
Investment Income | 3,448,706 |
Other Income | 5,943,384 |
Total Employee Compensation & Benefits | 8,226,349 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 10,299,436 |
Non-operating Income & (Expense) | 29,249 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,365,000 |
Cost of Funds | 722,092 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 8,516,868 |
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