Dec, 31, 2023 — MARQUETTE COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in MARQUETTE, MI with 2 branch locations and about $113.10 million in total assets. Opened 72 years ago in 1952, MARQUETTE COMMUNITY FEDERAL CREDIT UNION has about 8,397 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MARQUETTE COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1230 W Washington St MARQUETTE, MI 49855 |
| Phone: | (906) 228-9850 |
| Fax: | (906) 228-7662 |
| Website: | https://www.marquettecomm.org |
| Branches: | 2 branch locations |
| Members: | 8,397 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7873 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $113,104,018 |
| CEO/Manager: | Jim Lori |
| Chairperson: | Tom Meravi |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,291,278 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,549,384 |
| Unsecured Loans | 3,922,519 |
| Other Loans | 41,684,541 |
| TOTAL LOANS | 50,156,444 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -223,593 |
| Land And Building | 854,419 |
| Other Fixed Assets | 33,178 |
| NCUSIF Deposit | 1,026,256 |
| All Other Assets | 0 |
| TOTAL ASSETS | 113,104,018 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,313 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,499,334 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,125,962 |
| Regular shares | 69,338,480 |
| All Other Shares & Deposits | 7,397,412 |
| TOTAL SHARES & DEPOSITS | 99,861,855 |
| TOTAL LIABILITIES | 101,362,502 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 11,741,516 |
| TOTAL EQUITY | 11,741,516 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 113,104,018 |
| INCOME & EXPENSE | |
| Loan Income | 2,101,322 |
| Investment Income | 1,844,102 |
| Other Income | 415,995 |
| Total Employee Compensation & Benefits | 1,351,350 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,490,651 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 143,458 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,966,803 |
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