Dec, 31, 2023 — LIMESTONE FEDERAL CREDIT UNION is a federal credit union headquartered in MANISTIQUE, MI with 3 branch locations and about $65.40 million in total assets. Opened 70 years ago in 1954, LIMESTONE FEDERAL CREDIT UNION has about 4,403 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: | LIMESTONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 131 RIVER ST MANISTIQUE, MI 49854 |
| Phone: | (906) 341-5866 |
| Fax: | (906) 341-6070 |
| Website: | https://www.limestonefederal.com |
| Branches: | 3 branch locations |
| Members: | 4,403 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10083 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $65,403,227 |
| CEO/Manager: | Jennifer C Watson |
| Chairperson: | James G Blanchard |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,333,241 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 26,080,401 |
| Unsecured Loans | 5,284,270 |
| Other Loans | 23,788,005 |
| TOTAL LOANS | 55,152,676 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -199,041 |
| Land And Building | 1,201,607 |
| Other Fixed Assets | 383,495 |
| NCUSIF Deposit | 500,291 |
| All Other Assets | 0 |
| TOTAL ASSETS | 65,403,227 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 119 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 590,725 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,458,453 |
| Regular shares | 23,161,313 |
| All Other Shares & Deposits | 24,489,881 |
| TOTAL SHARES & DEPOSITS | 57,109,647 |
| TOTAL LIABILITIES | 57,700,491 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,702,736 |
| TOTAL EQUITY | 7,702,736 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,403,227 |
| INCOME & EXPENSE | |
| Loan Income | 2,828,744 |
| Investment Income | 196,266 |
| Other Income | 349,549 |
| Total Employee Compensation & Benefits | 1,381,240 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,438,712 |
| Non-operating Income & (Expense) | 323,544 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 118,281 |
| Cost of Funds | 602,948 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 603,020 |
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