Dec, 31, 2023 — WARREN MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $20.99 million in total assets. Opened 72 years ago in 1952, WARREN MUNICIPAL FEDERAL CREDIT UNION has about 1,416 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WARREN MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 31300 Hoover Rd WARREN, MI 48093-1774 |
| Phone: | (586) 268-9690 |
| Fax: | (586) 268-5898 |
| Website: | https://warrenmunicipalfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,416 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7633 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,993,283 |
| CEO/Manager: | Karen L Mollison |
| Chairperson: | Chester Kulesza |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,056,147 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,045,393 |
| Unsecured Loans | 918,449 |
| Other Loans | 5,173,751 |
| TOTAL LOANS | 12,154,215 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -78,665 |
| Land And Building | 40,591 |
| Other Fixed Assets | 6,020 |
| NCUSIF Deposit | 221,475 |
| All Other Assets | 0 |
| TOTAL ASSETS | 20,993,283 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 700 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 23,603 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,044,062 |
| Regular shares | 13,786,950 |
| All Other Shares & Deposits | 2,419,481 |
| TOTAL SHARES & DEPOSITS | 19,250,493 |
| TOTAL LIABILITIES | 19,274,796 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,718,487 |
| TOTAL EQUITY | 1,718,487 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,993,283 |
| INCOME & EXPENSE | |
| Loan Income | 467,360 |
| Investment Income | 293,483 |
| Other Income | 65,350 |
| Total Employee Compensation & Benefits | 298,641 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 290,860 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 33,000 |
| Cost of Funds | 3,247 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 228,014 |
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