Dec, 31, 2023 — GRATIOT COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in ALMA, MI with 3 branch locations and about $54.94 million in total assets. Opened 69 years ago in 1955, GRATIOT COMMUNITY CREDIT UNION has about 6,691 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GRATIOT COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 211 W Center St ALMA, MI 48801-2206 |
| Phone: | (989) 463-8321 |
| Fax: | (989) 463-8324 |
| Website: | https://www.gratiotcu.org |
| Branches: | 3 branch locations |
| Members: | 6,691 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61986 |
|---|---|
| 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: | $54,939,818 |
| CEO/Manager: | Katina Struble |
| Chairperson: | Sonia Gibson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,763,031 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,058,990 |
| Unsecured Loans | 3,355,101 |
| Other Loans | 30,350,465 |
| TOTAL LOANS | 43,764,556 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -282,203 |
| Land And Building | 2,545,106 |
| Other Fixed Assets | 176,250 |
| NCUSIF Deposit | 495,228 |
| All Other Assets | 0 |
| TOTAL ASSETS | 54,939,818 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 13,786 |
| Notes & Interest Payable | 822,239 |
| Accounts Payable & Other Liabilities | 921,236 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,758,787 |
| Regular shares | 19,636,249 |
| All Other Shares & Deposits | 18,759,109 |
| TOTAL SHARES & DEPOSITS | 49,154,144 |
| TOTAL LIABILITIES | 50,911,405 |
| Regular Reserve | 0 |
| Other Reserves | -144,713 |
| Undivided Earnings | 4,173,126 |
| TOTAL EQUITY | 4,028,413 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 54,939,818 |
| INCOME & EXPENSE | |
| Loan Income | 2,288,930 |
| Investment Income | 179,497 |
| Other Income | 519,953 |
| Total Employee Compensation & Benefits | 1,128,254 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,224,677 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 407,672 |
| Cost of Funds | 343,905 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 176,811 |
| ↑ Back to Top | |