Dec, 31, 2023 — IRON MOUNTAIN KINGSFORD COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in KINGSFORD, MI with 1 branch location and about $135.39 million in total assets. Opened 76 years ago in 1948, IRON MOUNTAIN KINGSFORD COMMUNITY FEDERAL CREDIT UNION has about 10,462 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | IRON MOUNTAIN KINGSFORD COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 400 S Carpenter Ave KINGSFORD, MI 49802-4527 |
| Phone: | (906) 774-6020 |
| Fax: | (906) 774-8816 |
| Website: | https://www.pcbranch.com |
| Branches: | 1 branch locations |
| Members: | 10,462 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5660 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $135,385,250 |
| CEO/Manager: | Scott L Dickman |
| Chairperson: | Kathy Barnes |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 52,682,248 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,327,765 |
| Unsecured Loans | 2,882,813 |
| Other Loans | 17,152,205 |
| TOTAL LOANS | 35,362,783 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -237,172 |
| Land And Building | 1,437,330 |
| Other Fixed Assets | 122,378 |
| NCUSIF Deposit | 1,151,757 |
| All Other Assets | 0 |
| TOTAL ASSETS | 135,385,250 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,090,970 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,619,941 |
| Regular shares | 80,202,221 |
| All Other Shares & Deposits | 12,978,526 |
| TOTAL SHARES & DEPOSITS | 114,800,688 |
| TOTAL LIABILITIES | 115,891,658 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 19,493,592 |
| TOTAL EQUITY | 19,493,592 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 135,385,250 |
| INCOME & EXPENSE | |
| Loan Income | 1,726,399 |
| Investment Income | 4,489,508 |
| Other Income | 229,191 |
| Total Employee Compensation & Benefits | 1,829,720 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,522,554 |
| Non-operating Income & (Expense) | 959 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 37,000 |
| Cost of Funds | 219,116 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,412,862 |
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