Dec, 31, 2023 — WALLED LAKE SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in WOLVERINE LAKE, MI with 1 branch location and about $133.14 million in total assets. Opened 74 years ago in 1950, WALLED LAKE SCHOOLS FEDERAL CREDIT UNION has about 5,282 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: | https://www.wlsfcu.com |
| Branches: | 1 branch locations |
| Members: | 5,282 |
| 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, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $133,139,913 |
| CEO/Manager: | Catherine I Hawes |
| Chairperson: | Neal Howald |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,342,677 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,503,168 |
| Unsecured Loans | 6,924,330 |
| Other Loans | 12,073,690 |
| TOTAL LOANS | 32,501,188 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -81,468 |
| Land And Building | 1,201,388 |
| Other Fixed Assets | 971,310 |
| NCUSIF Deposit | 1,202,030 |
| All Other Assets | 0 |
| TOTAL ASSETS | 133,139,913 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 39,808 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,440,260 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,748,139 |
| Regular shares | 80,990,130 |
| All Other Shares & Deposits | 15,151,357 |
| TOTAL SHARES & DEPOSITS | 119,889,625 |
| TOTAL LIABILITIES | 121,369,693 |
| Regular Reserve | 0 |
| Other Reserves | -4,538,302 |
| Undivided Earnings | 16,308,522 |
| TOTAL EQUITY | 11,770,220 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 133,139,913 |
| INCOME & EXPENSE | |
| Loan Income | 1,579,396 |
| Investment Income | 2,023,155 |
| Other Income | 99,915 |
| Total Employee Compensation & Benefits | 1,285,184 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,669,060 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 25,224 |
| Cost of Funds | 210,130 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 934,357 |
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