Dec, 31, 2023 — ARBOR FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in KALAMAZOO, MI with 13 branch locations and about $969.39 million in total assets. Opened 89 years ago in 1935, ARBOR FINANCIAL CREDIT UNION has about 46,662 members and employs 207 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ARBOR FINANCIAL CREDIT UNION |
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Address: (Main Office) | 1551 S 9TH ST KALAMAZOO, MI 49009-9404 |
Phone: | (269) 375-6702 |
Fax: | (269) 544-3488 |
Website: | https://www.arborfcu.org |
Branches: | 13 branch locations |
Members: | 46,662 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 61708 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $969,394,714 |
CEO/Manager: | Julie A Blitchok |
Chairperson: | David Aubry |
ASSETS: | $ Amount |
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Cash & Equivalents | 78,849,979 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 1,171,245 |
Real Estate Loans | 579,969,735 |
Unsecured Loans | 51,180,238 |
Other Loans | 114,904,520 |
TOTAL LOANS | 751,772,337 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,718,613 |
Land And Building | 20,224,602 |
Other Fixed Assets | 2,878,027 |
NCUSIF Deposit | 6,651,320 |
All Other Assets | 0 |
TOTAL ASSETS | 969,394,714 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 73,528 |
Notes & Interest Payable | 156,000,000 |
Accounts Payable & Other Liabilities | 10,236,050 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 169,802,009 |
Regular shares | 238,217,039 |
All Other Shares & Deposits | 337,076,319 |
TOTAL SHARES & DEPOSITS | 745,095,370 |
TOTAL LIABILITIES | 911,404,948 |
Regular Reserve | 0 |
Other Reserves | -20,195,150 |
Undivided Earnings | 78,184,916 |
TOTAL EQUITY | 57,989,766 |
TOTAL LIABILITIES, SHARES, & EQUITY | 969,394,714 |
INCOME & EXPENSE | |
Loan Income | 33,473,675 |
Investment Income | 3,330,265 |
Other Income | 6,348,844 |
Total Employee Compensation & Benefits | 15,710,312 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 15,518,541 |
Non-operating Income & (Expense) | 574,254 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,413,109 |
Cost of Funds | 12,564,480 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,987,008 |
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