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ZEAL CREDIT UNION

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.


ABA Routing Number: 272477694
Name:ZEAL CREDIT UNION
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
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

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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