Dec, 31, 2023 — GR CONSUMERS CREDIT UNION is a federally insured state chartered credit union headquartered in WYOMING, MI with 2 branch locations and about $47.09 million in total assets. Opened 83 years ago in 1941, GR CONSUMERS CREDIT UNION has about 2,936 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | GR CONSUMERS CREDIT UNION |
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Address: (Main Office) | 3975 Clay Ave SW WYOMING, MI 49548 |
Phone: | (616) 538-2810 |
Fax: | (616) 538-2448 |
Website: | https://www.grccu.com |
Branches: | 2 branch locations |
Members: | 2,936 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68332 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $47,093,914 |
CEO/Manager: | Timothy R Kindred |
Chairperson: | Rex Welbon |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,636,249 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 9,359,423 |
Unsecured Loans | 2,087,199 |
Other Loans | 11,824,361 |
TOTAL LOANS | 23,270,983 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -119,182 |
Land And Building | 198,802 |
Other Fixed Assets | 99,860 |
NCUSIF Deposit | 400,921 |
All Other Assets | 0 |
TOTAL ASSETS | 47,093,914 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 19,431 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 45,486 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,383,000 |
Regular shares | 16,496,663 |
All Other Shares & Deposits | 15,919,023 |
TOTAL SHARES & DEPOSITS | 38,798,686 |
TOTAL LIABILITIES | 38,863,603 |
Regular Reserve | 0 |
Other Reserves | 21,555 |
Undivided Earnings | 8,208,756 |
TOTAL EQUITY | 8,230,311 |
TOTAL LIABILITIES, SHARES, & EQUITY | 47,093,914 |
INCOME & EXPENSE | |
Loan Income | 1,193,072 |
Investment Income | 480,355 |
Other Income | 307,316 |
Total Employee Compensation & Benefits | 834,543 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 963,199 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 95,160 |
Cost of Funds | 157,694 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 278,383 |
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