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MUSKEGON FEDERAL CREDIT UNION

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.


ABA Routing Number: 272483196
Name:MUSKEGON FEDERAL CREDIT UNION
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
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

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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