FIRST UNITED CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.firstunitedcu.org for more information.
Dec, 31, 2023 — FIRST UNITED CREDIT UNION is a federally insured state chartered credit union headquartered in Grandville, MI with 1 branch location and about $61.01 million in total assets. Opened 87 years ago in 1937, FIRST UNITED CREDIT UNION has about 4,844 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST UNITED CREDIT UNION |
|---|---|
| Address: (Main Office) | 3140 Ivanrest Ave SW Grandville, MI 49418 |
| Phone: | (616) 532-9067 |
| Fax: | (616) 532-9196 |
| Website: | https://www.firstunitedcu.org |
| Branches: | 1 branch locations |
| Members: | 4,844 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68640 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Apr 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $61,005,428 |
| CEO/Manager: | Mark A Richter |
| Chairperson: | RANDALL M BAKER |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,837,321 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,879,827 |
| Unsecured Loans | 2,661,522 |
| Other Loans | 30,413,137 |
| TOTAL LOANS | 48,954,486 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -495,745 |
| Land And Building | 666,929 |
| Other Fixed Assets | 76,159 |
| NCUSIF Deposit | 423,924 |
| All Other Assets | 0 |
| TOTAL ASSETS | 61,005,428 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 39,874 |
| Notes & Interest Payable | 2,500,000 |
| Accounts Payable & Other Liabilities | 998,385 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,085,846 |
| Regular shares | 10,524,669 |
| All Other Shares & Deposits | 33,148,541 |
| TOTAL SHARES & DEPOSITS | 50,759,056 |
| TOTAL LIABILITIES | 54,297,315 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,708,113 |
| TOTAL EQUITY | 6,708,113 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 61,005,428 |
| INCOME & EXPENSE | |
| Loan Income | 1,918,556 |
| Investment Income | 105,632 |
| Other Income | 512,025 |
| Total Employee Compensation & Benefits | 911,340 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 992,998 |
| Non-operating Income & (Expense) | 26,121 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,188 |
| Cost of Funds | 345,762 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 744,851 |
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