Sep, 30, 2025 — BAY CREDIT UNION is a federally insured state chartered credit union headquartered in PANAMA CITY, FL with 5 branch locations and about $158.61 million in total assets. Opened 74 years ago in 1952, BAY CREDIT UNION has about 11,126 members and employs 40 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAY CREDIT UNION |
|---|---|
| Address: (Main Office) | 601 N Highway 231 PANAMA CITY, FL 32405-4705 |
| Phone: | (850) 785-6103 |
| Fax: | (850) 785-1452 |
| Website: | https://www.hellocu.com |
| Branches: | 5 branch locations |
| Members: | 11,126 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63262 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $158,610,321 |
| CEO/Manager: | Michael Akers |
| Chairperson: | Gary d Bliss |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,611,116 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 7,628,065 |
| Unsecured Loans | 7,765,570 |
| Other Loans | 89,045,761 |
| TOTAL LOANS | 104,439,395 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,304,560 |
| Land And Building | 5,113,872 |
| Other Fixed Assets | 356,052 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,337,264 |
| All Other Assets | 7,475 |
| TOTAL ASSETS | 158,610,321 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,458,041 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,155,766 |
| Regular shares | 64,859,401 |
| All Other Shares & Deposits | 34,140,876 |
| TOTAL SHARES & DEPOSITS | 133,156,044 |
| TOTAL LIABILITIES | 136,614,085 |
| Regular Reserve | 0 |
| Other Reserves | 1,732,442 |
| Undivided Earnings | 20,263,794 |
| TOTAL EQUITY | 21,996,236 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 158,610,321 |
| INCOME & EXPENSE | |
| Loan Income | 4,748,672 |
| Investment Income | 676,020 |
| Other Income | 894,413 |
| Total Employee Compensation & Benefits | 2,235,430 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,746,435 |
| Non-operating Income & (Expense) | 691,502 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,047,200 |
| Cost of Funds | 744,884 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 715,574 |
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