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HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in HARBOR BEACH, MI with 1 branch location and about $4.55 million in total assets. Opened 55 years ago in 1969, HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION has about 623 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HARBOR BEACH COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 7
HARBOR BEACH, MI 48441
Phone:(989) 479-3357
Fax:(989) 479-9860
Website:n/a
Branches:1 branch locations
Members:623
Credit Union Type:Federal Credit Union
Charter Number:19274
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1969
Last Audited:Apr 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$4,548,909
CEO/Manager:Lori K Lovejoy
Chairperson:Chanda Booms

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 407,985
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 277,389
 Other Loans 948,304
 TOTAL LOANS 1,225,693
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -30,599
 Land And Building 46,140
 Other Fixed Assets 910
 NCUSIF Deposit 40,144
 All Other Assets 0
  TOTAL ASSETS 4,548,909
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 19,040
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 3,662,152
 All Other Shares & Deposits 446,118
  TOTAL SHARES & DEPOSITS 4,108,270
  TOTAL LIABILITIES 4,127,310
 Regular Reserve 0
 Other Reserves 86,238
 Undivided Earnings 335,361
  TOTAL EQUITY 421,599
  TOTAL LIABILITIES, SHARES, & EQUITY 4,548,909
INCOME & EXPENSE  
 Loan Income 14,950
 Investment Income 4,303
 Other Income 140
 Total Employee Compensation & Benefits 13,417
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,859
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 593
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,476
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