Dec, 31, 2023 — GR CONSUMERS CREDIT UNION is a federally insured state chartered credit union headquartered in WYOMING, MI with 2 branch locations and about $47.09 million in total assets. Opened 83 years ago in 1941, GR CONSUMERS CREDIT UNION has about 2,936 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GR CONSUMERS CREDIT UNION |
|---|---|
| Address: (Main Office) | 3975 Clay Ave SW WYOMING, MI 49548 |
| Phone: | (616) 538-2810 |
| Fax: | (616) 538-2448 |
| Website: | https://www.grccu.com |
| Branches: | 2 branch locations |
| Members: | 2,936 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68332 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1941 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $47,093,914 |
| CEO/Manager: | Timothy R Kindred |
| Chairperson: | Rex Welbon |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,636,249 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,359,423 |
| Unsecured Loans | 2,087,199 |
| Other Loans | 11,824,361 |
| TOTAL LOANS | 23,270,983 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -119,182 |
| Land And Building | 198,802 |
| Other Fixed Assets | 99,860 |
| NCUSIF Deposit | 400,921 |
| All Other Assets | 0 |
| TOTAL ASSETS | 47,093,914 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 19,431 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 45,486 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,383,000 |
| Regular shares | 16,496,663 |
| All Other Shares & Deposits | 15,919,023 |
| TOTAL SHARES & DEPOSITS | 38,798,686 |
| TOTAL LIABILITIES | 38,863,603 |
| Regular Reserve | 0 |
| Other Reserves | 21,555 |
| Undivided Earnings | 8,208,756 |
| TOTAL EQUITY | 8,230,311 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 47,093,914 |
| INCOME & EXPENSE | |
| Loan Income | 1,193,072 |
| Investment Income | 480,355 |
| Other Income | 307,316 |
| Total Employee Compensation & Benefits | 834,543 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 963,199 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 95,160 |
| Cost of Funds | 157,694 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 278,383 |
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