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WARREN MUNICIPAL FEDERAL CREDIT UNION

Mar, 31, 2021 — WARREN MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $22.01 million in total assets. Opened 69 years ago in 1952, WARREN MUNICIPAL FEDERAL CREDIT UNION has about 1,483 members and employs 4 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
WARREN, MI 48093
Phone:(586) 268-9690
Fax:(586) 268-5898
Website:http://warrenmunicipalfcu.com
Branches:1 branch locations
Members:1,483
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$22,006,831
CEO/Manager:Karen L Mollison
Chairperson:Chester Kulesza

Call Report

  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,373,547
TOTAL INVESTMENTS 8,582,509
Loans Held for Sale 0
 
 Real Estate Loans 2,394,705
 Unsecured Loans 877,175
 Other Loans 2,508,515
 TOTAL LOANS 5,808,505
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -35,456
 Land And Building 46,151
 Other Fixed Assets 6,523
 NCUSIF Deposit 159,236
 All Other Assets 65,816
  TOTAL ASSETS 22,006,831
LIABILITIES & CAPITAL:  
 Dividends Payable 648
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 35,740
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,253,154
 Regular shares 13,668,929
 All Other Shares & Deposits 3,672,947
  TOTAL SHARES & DEPOSITS 20,595,030
  TOTAL LIABILITIES 20,631,418
 Regular Reserve 263,220
 Other Reserves 58,109
 Undivided Earnings 1,054,084
  TOTAL EQUITY 1,375,413
  TOTAL LIABILITIES, SHARES, & EQUITY 22,006,831
INCOME & EXPENSE  
 Loan Income 64,614
 Investment Income 33,747
 Other Income 16,974
 Total Employee Compensation & Benefits 57,158
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 69,660
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 735
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -11,502
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