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DOWAGIAC AREA FEDERAL CREDIT UNION

Dec, 31, 2023 — DOWAGIAC AREA FEDERAL CREDIT UNION is a federal credit union headquartered in DOWAGIAC, MI with 1 branch location and about $23.56 million in total assets. Opened 52 years ago in 1972, DOWAGIAC AREA FEDERAL CREDIT UNION has about 1,797 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272479582
Name:DOWAGIAC AREA FEDERAL CREDIT UNION
Address:
(Main Office)
473 E Division St
DOWAGIAC, MI 49047-1541
Phone:(269) 782-2410
Fax:(269) 782-9870
Website:https://www.dafcu.net
Branches:1 branch locations
Members:1,797
Credit Union Type:Federal Credit Union
Charter Number:21070
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1972
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$23,557,415
CEO/Manager:Erik Tapia
Chairperson:Tim Dowsett

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,069,977
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,624,898
 Unsecured Loans 1,833,631
 Other Loans 6,910,176
 TOTAL LOANS 10,413,428
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -51,503
 Land And Building 584,112
 Other Fixed Assets 17,628
 NCUSIF Deposit 219,911
 All Other Assets 0
  TOTAL ASSETS 23,557,415
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 41,888
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 3,795,657
 Regular shares 10,304,996
 All Other Shares & Deposits 7,392,545
  TOTAL SHARES & DEPOSITS 21,493,197
  TOTAL LIABILITIES 21,535,085
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,022,330
  TOTAL EQUITY 2,022,330
  TOTAL LIABILITIES, SHARES, & EQUITY 23,557,415
INCOME & EXPENSE  
 Loan Income 358,351
 Investment Income 480,858
 Other Income 83,314
 Total Employee Compensation & Benefits 213,337
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 406,960
 Non-operating Income & (Expense) 83,795
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 51,503
 Cost of Funds 15,460
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 398,257
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