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WARREN MUNICIPAL FEDERAL CREDIT UNION

Jun, 30, 2021 — WARREN MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in WARREN, MI with 1 branch location and about $22.21 million in total assets. Opened 69 years ago in 1952, WARREN MUNICIPAL FEDERAL CREDIT UNION has about 1,473 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:1,473
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:$22,206,655
CEO/Manager:Karen L Mollison
Chairperson:Chester Kulesza

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,473,740
TOTAL INVESTMENTS 8,145,752
Loans Held for Sale 0
 
 Real Estate Loans 3,822,574
 Unsecured Loans 899,784
 Other Loans 2,568,090
 TOTAL LOANS 7,317,289
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -37,274
 Land And Building 44,692
 Other Fixed Assets 5,955
 NCUSIF Deposit 191,842
 All Other Assets 64,659
  TOTAL ASSETS 22,206,655
LIABILITIES & CAPITAL:  
 Dividends Payable 690
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 201,569
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,966,811
 Regular shares 14,045,419
 All Other Shares & Deposits 3,629,897
  TOTAL SHARES & DEPOSITS 20,642,127
  TOTAL LIABILITIES 20,844,386
 Regular Reserve 284,212
 Other Reserves 46,352
 Undivided Earnings 1,031,705
  TOTAL EQUITY 1,362,269
  TOTAL LIABILITIES, SHARES, & EQUITY 22,206,655
INCOME & EXPENSE  
 Loan Income 136,968
 Investment Income 61,149
 Other Income 33,548
 Total Employee Compensation & Benefits 117,074
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 127,693
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 1,516
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -12,889
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