Dec, 31, 2023 — ELECTRICAL WORKERS LOCAL 58 CREDIT UNION is a federally insured state chartered credit union headquartered in DETROIT, MI with 1 branch location and about $19.80 million in total assets. Opened 69 years ago in 1955, ELECTRICAL WORKERS LOCAL 58 CREDIT UNION has about 2,242 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ELECTRICAL WORKERS LOCAL 58 CREDIT UNION |
|---|---|
| Address: (Main Office) | 1366 porter ST DETROIT, MI 48226 |
| Phone: | (313) 963-6060 |
| Fax: | (313) 962-6973 |
| Website: | https://www.ewcu.net |
| Branches: | 1 branch locations |
| Members: | 2,242 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64267 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $19,797,590 |
| CEO/Manager: | JESSICA FOX |
| Chairperson: | THOMAS WEERTZ |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 638,084 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 414,503 |
| Other Loans | 5,286,283 |
| TOTAL LOANS | 5,700,786 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -27,967 |
| Land And Building | 18,017 |
| Other Fixed Assets | 37,738 |
| NCUSIF Deposit | 175,635 |
| All Other Assets | 0 |
| TOTAL ASSETS | 19,797,590 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 19,229 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,886,128 |
| Regular shares | 13,825,604 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 17,711,732 |
| TOTAL LIABILITIES | 17,730,961 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,066,629 |
| TOTAL EQUITY | 2,066,629 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 19,797,590 |
| INCOME & EXPENSE | |
| Loan Income | 290,857 |
| Investment Income | 263,569 |
| Other Income | 40,108 |
| Total Employee Compensation & Benefits | 184,178 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 261,217 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,939 |
| Cost of Funds | 35,280 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 108,881 |
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