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WALLED LAKE SCHOOLS FEDERAL CREDIT UNION

Mar, 31, 2022 — WALLED LAKE SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in WOLVERINE LAKE, MI with 1 branch location and about $145.16 million in total assets. Opened 72 years ago in 1950, WALLED LAKE SCHOOLS FEDERAL CREDIT UNION has about 5,414 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WALLED LAKE SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
3095 S Commerce Rd
WOLVERINE LAKE, MI 48390-1418
Phone:(248) 624-5222
Fax:(248) 624-0614
Website:http://www.wlsefcu.com
Branches:1 branch locations
Members:5,414
Credit Union Type:Federal Credit Union
Charter Number:6613
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1950
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$145,157,086
CEO/Manager:Catherine I Hawes
Chairperson:Neal Howald

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,716,809
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 13,520,932
 Unsecured Loans 3,998,284
 Other Loans 9,775,412
 TOTAL LOANS 27,294,628
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -21,324
 Land And Building 1,258,053
 Other Fixed Assets 1,040,711
 NCUSIF Deposit 1,219,730
 All Other Assets 0
  TOTAL ASSETS 145,157,086
LIABILITIES & CAPITAL:  
 Dividends Payable 16,209
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,066,613
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 24,892,940
 Regular shares 95,687,479
 All Other Shares & Deposits 11,486,362
  TOTAL SHARES & DEPOSITS 132,066,781
  TOTAL LIABILITIES 133,149,603
 Regular Reserve 0
 Other Reserves -2,921,302
 Undivided Earnings 14,928,785
  TOTAL EQUITY 12,007,483
  TOTAL LIABILITIES, SHARES, & EQUITY 145,157,086
INCOME & EXPENSE  
 Loan Income 304,639
 Investment Income 332,039
 Other Income 23,185
 Total Employee Compensation & Benefits 270,433
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 392,092
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -629
 Cost of Funds 22,388
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 83,260
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