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National Credit Union Service Organization

EXTRA CREDIT UNION

Dec, 31, 2023 — EXTRA CREDIT UNION is a federally insured state chartered credit union headquartered in WARREN, MI with 2 branch locations and about $311.72 million in total assets. Opened 70 years ago in 1954, EXTRA CREDIT UNION has about 18,908 members and employs 90 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: 272477432
Name:EXTRA CREDIT UNION
Address:
(Main Office)
6611 Chicago Rd
WARREN, MI 48092-1685
Phone:(586) 276-3000
Fax:(586) 276-3001
Website:https://www.extracreditunion.org
Branches:2 branch locations
Members:18,908
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:60428
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$311,717,529
CEO/Manager:Deidra M Williams
Chairperson:Anne Covert

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,952,029
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 78,013,707
 Unsecured Loans 42,791,113
 Other Loans 60,222,757
 TOTAL LOANS 181,058,563
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -5,760,415
 Land And Building 4,638,677
 Other Fixed Assets 1,912,766
 NCUSIF Deposit 2,745,040
 All Other Assets 49,071
  TOTAL ASSETS 311,717,529
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,758,483
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 62,265,858
 Regular shares 114,508,557
 All Other Shares & Deposits 94,535,350
  TOTAL SHARES & DEPOSITS 271,309,765
  TOTAL LIABILITIES 274,068,248
 Regular Reserve 0
 Other Reserves -7,576,216
 Undivided Earnings 45,225,497
  TOTAL EQUITY 37,649,281
  TOTAL LIABILITIES, SHARES, & EQUITY 311,717,529
INCOME & EXPENSE  
 Loan Income 14,702,553
 Investment Income 2,218,587
 Other Income 3,853,676
 Total Employee Compensation & Benefits 8,184,544
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,854,495
 Non-operating Income & (Expense) -75,329
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,921,498
 Cost of Funds 1,176,920
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5,005,626
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