Dec, 31, 2023 — MUSKEGON FEDERAL CREDIT UNION is a federal credit union headquartered in MUSKEGON, MI with 2 branch locations and about $69.13 million in total assets. Opened 73 years ago in 1951, MUSKEGON FEDERAL CREDIT UNION has about 5,029 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MUSKEGON FEDERAL CREDIT UNION |
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Address: (Main Office) | 65 W LAKETON AVE MUSKEGON, MI 49441 |
Phone: | (231) 722-7285 |
Fax: | |
Website: | https://www.muskfedcu.com |
Branches: | 2 branch locations |
Members: | 5,029 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7509 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $69,134,740 |
CEO/Manager: | TONI WINSKAS |
Chairperson: | JAMES TAYLOR |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,305,131 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 14,572,162 |
Unsecured Loans | 4,637,549 |
Other Loans | 9,225,598 |
TOTAL LOANS | 28,435,309 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -231,566 |
Land And Building | 922,933 |
Other Fixed Assets | 222,004 |
NCUSIF Deposit | 594,274 |
All Other Assets | 0 |
TOTAL ASSETS | 69,134,740 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 61,119 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 336,000 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,447,457 |
Regular shares | 14,821,413 |
All Other Shares & Deposits | 37,888,759 |
TOTAL SHARES & DEPOSITS | 61,157,629 |
TOTAL LIABILITIES | 61,554,748 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 7,579,992 |
TOTAL EQUITY | 7,579,992 |
TOTAL LIABILITIES, SHARES, & EQUITY | 69,134,740 |
INCOME & EXPENSE | |
Loan Income | 1,413,172 |
Investment Income | 775,155 |
Other Income | 934,772 |
Total Employee Compensation & Benefits | 751,892 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,117,394 |
Non-operating Income & (Expense) | -9 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 241,333 |
Cost of Funds | 636,668 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 258,262 |
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