Dec, 31, 2023 — GRACO FEDERAL CREDIT UNION is a federal credit union headquartered in ALMA, MI with 1 branch location and about $29.68 million in total assets. Opened 62 years ago in 1962, GRACO FEDERAL CREDIT UNION has about 3,383 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: | GRACO FEDERAL CREDIT UNION |
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Address: (Main Office) | 835 W Warwick Dr ALMA, MI 48801-1147 |
Phone: | (989) 463-1247 |
Fax: | (989) 285-1583 |
Website: | https://www.gracofcu.org |
Branches: | 1 branch locations |
Members: | 3,383 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15304 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $29,683,922 |
CEO/Manager: | Stacy Grube |
Chairperson: | Duane Barclay |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,869,993 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,411,647 |
Unsecured Loans | 1,258,376 |
Other Loans | 15,957,047 |
TOTAL LOANS | 18,627,070 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -155,808 |
Land And Building | 1,466,416 |
Other Fixed Assets | 130,715 |
NCUSIF Deposit | 279,503 |
All Other Assets | 0 |
TOTAL ASSETS | 29,683,922 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,216 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 246,550 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,003,870 |
Regular shares | 16,429,397 |
All Other Shares & Deposits | 4,174,669 |
TOTAL SHARES & DEPOSITS | 26,607,936 |
TOTAL LIABILITIES | 26,856,702 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 2,827,220 |
TOTAL EQUITY | 2,827,220 |
TOTAL LIABILITIES, SHARES, & EQUITY | 29,683,922 |
INCOME & EXPENSE | |
Loan Income | 1,097,911 |
Investment Income | 330,918 |
Other Income | 123,548 |
Total Employee Compensation & Benefits | 426,122 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 850,871 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 169,800 |
Cost of Funds | 38,831 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 359,884 |
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