Jun, 30, 2021 — UKRAINIAN SELFRELIANCE MICHIGAN FEDERAL CREDIT UNION is a federal credit union headquartered in Warren, MI with 2 branch locations and about $131.30 million in total assets. Opened 69 years ago in 1952, UKRAINIAN SELFRELIANCE MICHIGAN FEDERAL CREDIT UNION has about 3,910 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UKRAINIAN SELFRELIANCE MICHIGAN FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 26791 Ryan Rd Warren, MI 48091-4073 |
| Phone: | (586) 756-3300 |
| Fax: | (586) 756-4316 |
| Website: | https://www.usmfcu.org |
| Branches: | 2 branch locations |
| Members: | 3,910 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8000 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $131,304,646 |
| CEO/Manager: | Andre Vygnanski |
| Chairperson: | Oleh Karanec |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,038,993 |
| TOTAL INVESTMENTS | 79,263,920 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 27,304,821 |
| Unsecured Loans | 1,321,378 |
| Other Loans | 3,080,105 |
| TOTAL LOANS | 31,706,304 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -180,928 |
| Land And Building | 654,338 |
| Other Fixed Assets | 71,676 |
| NCUSIF Deposit | 1,033,285 |
| All Other Assets | 717,058 |
| TOTAL ASSETS | 131,304,646 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 77,944 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,292,270 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,879,155 |
| Regular shares | 70,003,510 |
| All Other Shares & Deposits | 33,105,096 |
| TOTAL SHARES & DEPOSITS | 115,987,761 |
| TOTAL LIABILITIES | 117,357,975 |
| Regular Reserve | 4,600,000 |
| Other Reserves | -1,239,344 |
| Undivided Earnings | 10,586,015 |
| TOTAL EQUITY | 13,946,671 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 131,304,646 |
| INCOME & EXPENSE | |
| Loan Income | 520,935 |
| Investment Income | 532,482 |
| Other Income | 47,476 |
| Total Employee Compensation & Benefits | 477,852 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 536,505 |
| Non-operating Income & (Expense) | -524 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -14,304 |
| Cost of Funds | 228,217 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -51,868 |
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