Dec, 31, 2023 — NORTHERN LIGHTS COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in CHATHAM, MI with 3 branch locations and about $11.37 million in total assets. Opened 79 years ago in 1945, NORTHERN LIGHTS COMMUNITY FEDERAL CREDIT UNION has about 1,244 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NORTHERN LIGHTS COMMUNITY FEDERAL CREDIT UNION |
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Address: (Main Office) | PO Box 126 CHATHAM, MI 49816 |
Phone: | (906) 439-5100 |
Fax: | (906) 439-5822 |
Website: | https://www.nlightsfcu.com |
Branches: | 3 branch locations |
Members: | 1,244 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5272 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1945 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $11,372,244 |
CEO/Manager: | Nicole Maki |
Chairperson: | Patrick Donahue |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,676,674 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 472,540 |
Other Loans | 4,069,122 |
TOTAL LOANS | 4,541,662 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -23,350 |
Land And Building | 126,766 |
Other Fixed Assets | 17,867 |
NCUSIF Deposit | 108,583 |
All Other Assets | 0 |
TOTAL ASSETS | 11,372,244 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 45 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 78,360 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,658,448 |
Regular shares | 6,674,374 |
All Other Shares & Deposits | 1,114,906 |
TOTAL SHARES & DEPOSITS | 10,447,729 |
TOTAL LIABILITIES | 10,526,134 |
Regular Reserve | 0 |
Other Reserves | 136,878 |
Undivided Earnings | 709,232 |
TOTAL EQUITY | 846,110 |
TOTAL LIABILITIES, SHARES, & EQUITY | 11,372,244 |
INCOME & EXPENSE | |
Loan Income | 261,267 |
Investment Income | 169,375 |
Other Income | 60,815 |
Total Employee Compensation & Benefits | 210,911 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 326,315 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,350 |
Cost of Funds | 10,377 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -4,834 |
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