Dec, 31, 2023 — NORTHWEST CONSUMERS FEDERAL CREDIT UNION is a federal credit union headquartered in TRAVERSE CITY, MI with 1 branch location and about $28.34 million in total assets. Opened 72 years ago in 1952, NORTHWEST CONSUMERS FEDERAL CREDIT UNION has about 2,752 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORTHWEST CONSUMERS FEDERAL CREDIT UNION |
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Address: (Main Office) | 2948 Garfield Rd N TRAVERSE CITY, MI 49686-5008 |
Phone: | (231) 947-7600 |
Fax: | (231) 947-0732 |
Website: | https://www.nwconsumers.org |
Branches: | 1 branch locations |
Members: | 2,752 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8077 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Oct 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $28,339,256 |
CEO/Manager: | Tina M Steed |
Chairperson: | Frances Butler |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,219,401 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,247,985 |
Unsecured Loans | 1,327,541 |
Other Loans | 9,349,125 |
TOTAL LOANS | 14,046,146 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -143,855 |
Land And Building | 49,321 |
Other Fixed Assets | 27,491 |
NCUSIF Deposit | 261,647 |
All Other Assets | 0 |
TOTAL ASSETS | 28,339,256 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 727 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,963,052 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,295,124 |
Regular shares | 10,167,072 |
All Other Shares & Deposits | 8,063,062 |
TOTAL SHARES & DEPOSITS | 22,525,258 |
TOTAL LIABILITIES | 24,489,037 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,850,219 |
TOTAL EQUITY | 3,850,219 |
TOTAL LIABILITIES, SHARES, & EQUITY | 28,339,256 |
INCOME & EXPENSE | |
Loan Income | 754,614 |
Investment Income | 400,008 |
Other Income | 341,120 |
Total Employee Compensation & Benefits | 436,706 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 603,419 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 58,683 |
Cost of Funds | 45,636 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 340,179 |
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