Dec, 31, 2023 — BLUE WATER FEDERAL CREDIT UNION is a federal credit union headquartered in PORT HURON, MI with 0 branch location and about $17.67 million in total assets. Opened 65 years ago in 1959, BLUE WATER FEDERAL CREDIT UNION has about 1,179 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BLUE WATER FEDERAL CREDIT UNION |
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Address: (Main Office) | 526 WATER ST RM 113 PORT HURON, MI 48060-5463 |
Phone: | (810) 985-6993 |
Fax: | (810) 985-4039 |
Website: | https://bluewaterfcu.com |
Branches: | 0 branch locations |
Members: | 1,179 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12906 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $17,667,524 |
CEO/Manager: | Theresa L Millsap |
Chairperson: | A. Raymond Kerr |
ASSETS: | $ Amount |
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Cash & Equivalents | 836,167 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 6,499,383 |
Unsecured Loans | 802,287 |
Other Loans | 2,670,141 |
TOTAL LOANS | 9,971,811 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -40,012 |
Land And Building | 0 |
Other Fixed Assets | 22,029 |
NCUSIF Deposit | 151,536 |
All Other Assets | 0 |
TOTAL ASSETS | 17,667,524 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 4,825 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 187,026 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,317,420 |
Regular shares | 3,868,138 |
All Other Shares & Deposits | 8,567,183 |
TOTAL SHARES & DEPOSITS | 14,752,740 |
TOTAL LIABILITIES | 14,944,591 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,722,933 |
TOTAL EQUITY | 2,722,933 |
TOTAL LIABILITIES, SHARES, & EQUITY | 17,667,524 |
INCOME & EXPENSE | |
Loan Income | 387,060 |
Investment Income | 222,568 |
Other Income | 16,049 |
Total Employee Compensation & Benefits | 222,506 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 260,946 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 76,866 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 69,793 |
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