Dec, 31, 2023 — TRAVERSE CATHOLIC FEDERAL CREDIT UNION is a federal credit union headquartered in TRAVERSE CITY, MI with 3 branch locations and about $88.06 million in total assets. Opened 74 years ago in 1950, TRAVERSE CATHOLIC FEDERAL CREDIT UNION has about 7,287 members and employs 19 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRAVERSE CATHOLIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3797 Veterans Dr TRAVERSE CITY, MI 49684-4516 |
| Phone: | (231) 946-6655 |
| Fax: | (231) 946-1346 |
| Website: | https://www.tcfedcu.org |
| Branches: | 3 branch locations |
| Members: | 7,287 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6844 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $88,063,474 |
| CEO/Manager: | Patty M McManus |
| Chairperson: | Jody A Bergman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,658,045 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,948,084 |
| Unsecured Loans | 6,575,904 |
| Other Loans | 26,769,381 |
| TOTAL LOANS | 50,200,391 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -255,082 |
| Land And Building | 58,357 |
| Other Fixed Assets | 237,214 |
| NCUSIF Deposit | 802,884 |
| All Other Assets | 0 |
| TOTAL ASSETS | 88,063,474 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 33,034 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 127,985 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 17,469,313 |
| Regular shares | 33,189,957 |
| All Other Shares & Deposits | 32,318,227 |
| TOTAL SHARES & DEPOSITS | 82,977,500 |
| TOTAL LIABILITIES | 83,138,519 |
| Regular Reserve | 0 |
| Other Reserves | -2,581,594 |
| Undivided Earnings | 7,506,549 |
| TOTAL EQUITY | 4,924,955 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 88,063,474 |
| INCOME & EXPENSE | |
| Loan Income | 2,681,798 |
| Investment Income | 346,070 |
| Other Income | 304,522 |
| Total Employee Compensation & Benefits | 1,248,212 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,322,014 |
| Non-operating Income & (Expense) | 21,764 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 170,578 |
| Cost of Funds | 484,295 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 649,981 |
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