Dec, 31, 2023 — JOLT CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 5 branch locations and about $452.08 million in total assets. Opened 68 years ago in 1956, JOLT CREDIT UNION has about 27,856 members and employs 119 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 |
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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: | 27,856 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68703 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $452,075,042 |
CEO/Manager: | Alan P Watson |
Chairperson: | Robert J Looby |
ASSETS: | $ Amount |
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Cash & Equivalents | 24,653,619 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 131,527,667 |
Unsecured Loans | 29,398,846 |
Other Loans | 104,858,838 |
TOTAL LOANS | 265,994,583 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,756,760 |
Land And Building | 17,910,055 |
Other Fixed Assets | 3,617,410 |
NCUSIF Deposit | 3,789,209 |
All Other Assets | 123,178 |
TOTAL ASSETS | 452,075,042 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 422,470 |
Notes & Interest Payable | 18,000,000 |
Accounts Payable & Other Liabilities | 4,531,821 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 64,732,886 |
Regular shares | 150,992,677 |
All Other Shares & Deposits | 176,233,535 |
TOTAL SHARES & DEPOSITS | 391,959,098 |
TOTAL LIABILITIES | 414,913,389 |
Regular Reserve | 0 |
Other Reserves | -892,806 |
Undivided Earnings | 38,054,459 |
TOTAL EQUITY | 37,161,653 |
TOTAL LIABILITIES, SHARES, & EQUITY | 452,075,042 |
INCOME & EXPENSE | |
Loan Income | 12,678,946 |
Investment Income | 2,369,971 |
Other Income | 1,900,322 |
Total Employee Compensation & Benefits | 7,786,205 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,380,228 |
Non-operating Income & (Expense) | 50 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,037,532 |
Cost of Funds | 3,521,537 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -2,464,531 |
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