Dec, 31, 2023 — TRI-CITIES CREDIT UNION is a federally insured state chartered credit union headquartered in GRAND HAVEN, MI with 2 branch locations and about $48.04 million in total assets. Opened 69 years ago in 1955, TRI-CITIES CREDIT UNION has about 3,770 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRI-CITIES CREDIT UNION |
|---|---|
| Address: (Main Office) | 905 Pennoyer Ave GRAND HAVEN, MI 49417 |
| Phone: | (616) 842-6320 |
| Fax: | (616) 842-9064 |
| Website: | https://www.tricu.org |
| Branches: | 2 branch locations |
| Members: | 3,770 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62508 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $48,043,786 |
| CEO/Manager: | Kimberly A Hall |
| Chairperson: | Matt Pugh |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,828,125 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,613,339 |
| Unsecured Loans | 1,430,465 |
| Other Loans | 13,188,046 |
| TOTAL LOANS | 30,231,850 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -169,111 |
| Land And Building | 966,236 |
| Other Fixed Assets | 42,140 |
| NCUSIF Deposit | 404,796 |
| All Other Assets | 0 |
| TOTAL ASSETS | 48,043,786 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 9,819 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 337,575 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,902,587 |
| Regular shares | 9,290,790 |
| All Other Shares & Deposits | 24,588,809 |
| TOTAL SHARES & DEPOSITS | 41,782,186 |
| TOTAL LIABILITIES | 42,129,580 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 5,914,206 |
| TOTAL EQUITY | 5,914,206 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 48,043,786 |
| INCOME & EXPENSE | |
| Loan Income | 1,325,002 |
| Investment Income | 353,129 |
| Other Income | 273,036 |
| Total Employee Compensation & Benefits | 697,056 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 746,099 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 63,257 |
| Cost of Funds | 239,570 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 458,327 |
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