Sep, 30, 2025 — JOLT CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 5 branch locations and about $471.06 million in total assets. Opened 70 years ago in 1956, JOLT CREDIT UNION has about 27,635 members and employs 114 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | JOLT CREDIT UNION |
|---|---|
| Address: (Main Office) | 6180 State St SAGINAW, MI 48603 |
| Phone: | (989) 799-8744 |
| Fax: | (989) 791-5117 |
| Website: | https://www.joltcu.com |
| Branches: | 5 branch locations |
| Members: | 27,635 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68703 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $471,059,599 |
| CEO/Manager: | Alan P Watson |
| Chairperson: | Robert J Looby |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 48,601,890 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 242,000 |
| Real Estate Loans | 133,072,907 |
| Unsecured Loans | 26,132,791 |
| Other Loans | 87,666,357 |
| TOTAL LOANS | 247,056,770 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,665,045 |
| Land And Building | 16,051,872 |
| Other Fixed Assets | 7,134,811 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 3,867,673 |
| All Other Assets | 625,735 |
| TOTAL ASSETS | 471,059,599 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 375,039 |
| Notes & Interest Payable | 18,000,000 |
| Accounts Payable & Other Liabilities | 11,742,306 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 67,747,792 |
| Regular shares | 160,967,482 |
| All Other Shares & Deposits | 165,844,137 |
| TOTAL SHARES & DEPOSITS | 394,559,412 |
| TOTAL LIABILITIES | 424,676,757 |
| Regular Reserve | 0 |
| Other Reserves | 4,567,853 |
| Undivided Earnings | 41,814,989 |
| TOTAL EQUITY | 46,382,842 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 471,059,599 |
| INCOME & EXPENSE | |
| Loan Income | 10,651,525 |
| Investment Income | 5,760,615 |
| Other Income | 1,786,594 |
| Total Employee Compensation & Benefits | 5,940,076 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 8,081,487 |
| Non-operating Income & (Expense) | 1,086,830 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 722,258 |
| Cost of Funds | 3,784,565 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,318,296 |
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