Sep, 30, 2025 — TRUNORTH FEDERAL CREDIT UNION is a federal credit union headquartered in ISHPEMING, MI with 3 branch locations and about $193.18 million in total assets. Opened 77 years ago in 1949, TRUNORTH FEDERAL CREDIT UNION has about 15,464 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRUNORTH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1419 N 2nd St ISHPEMING, MI 49849-1149 |
| Phone: | (906) 485-1210 |
| Fax: | (906) 485-4077 |
| Website: | https://www.trunorthcu.org |
| Branches: | 3 branch locations |
| Members: | 15,464 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6332 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $193,176,905 |
| CEO/Manager: | Stephen M Smith |
| Chairperson: | Michael Bath |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,549,594 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 66,577,540 |
| Unsecured Loans | 5,984,336 |
| Other Loans | 35,405,496 |
| TOTAL LOANS | 107,967,372 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -334,857 |
| Land And Building | 6,637,116 |
| Other Fixed Assets | 672,795 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,675,816 |
| All Other Assets | 4,405 |
| TOTAL ASSETS | 193,176,905 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,080,790 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 32,564,413 |
| Regular shares | 91,442,344 |
| All Other Shares & Deposits | 51,066,872 |
| TOTAL SHARES & DEPOSITS | 175,073,629 |
| TOTAL LIABILITIES | 176,154,419 |
| Regular Reserve | 0 |
| Other Reserves | -1,881,200 |
| Undivided Earnings | 18,903,686 |
| TOTAL EQUITY | 17,022,486 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 193,176,905 |
| INCOME & EXPENSE | |
| Loan Income | 4,342,158 |
| Investment Income | 888,539 |
| Other Income | 437,229 |
| Total Employee Compensation & Benefits | 2,280,571 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,550,626 |
| Non-operating Income & (Expense) | 945,433 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 165,000 |
| Cost of Funds | 877,910 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 689,996 |
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