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National Credit Union Service Organization

WEST MICHIGAN POSTAL SERVICE FEDERAL CREDIT UNION

Dec, 31, 2023 — WEST MICHIGAN POSTAL SERVICE FEDERAL CREDIT UNION is a federal credit union headquartered in MUSKEGON, MI with 1 branch location and about $6.85 million in total assets. Opened 72 years ago in 1952, WEST MICHIGAN POSTAL SERVICE FEDERAL CREDIT UNION has about 822 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272483109
Name:WEST MICHIGAN POSTAL SERVICE FEDERAL CREDIT UNION
Address:
(Main Office)
800 1st St
MUSKEGON, MI 49440
Phone:(231) 722-3921
Fax:(231) 728-0246
Website:https://www.wmpsfcu.com
Branches:1 branch locations
Members:822
Credit Union Type:Federal Credit Union
Charter Number:7910
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1952
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$6,847,390
CEO/Manager:Margaret A Upson
Chairperson:Alan T Leonard

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 643,195
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,851,424
 Unsecured Loans 490,540
 Other Loans 2,230,110
 TOTAL LOANS 4,572,074
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,416
 Land And Building 0
 Other Fixed Assets 3,860
 NCUSIF Deposit 54,659
 All Other Assets 0
  TOTAL ASSETS 6,847,390
LIABILITIES & CAPITAL:  
 Dividends Payable 5,105
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 63,691
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 423,578
 Regular shares 3,287,632
 All Other Shares & Deposits 2,262,013
  TOTAL SHARES & DEPOSITS 5,973,223
  TOTAL LIABILITIES 6,042,019
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 805,371
  TOTAL EQUITY 805,371
  TOTAL LIABILITIES, SHARES, & EQUITY 6,847,390
INCOME & EXPENSE  
 Loan Income 277,063
 Investment Income 81,461
 Other Income 38,479
 Total Employee Compensation & Benefits 135,723
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 157,382
 Non-operating Income & (Expense) 1,670
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 34,116
 Cost of Funds 72,373
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 39,586
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