Dec, 31, 2023 — MANISTIQUE FEDERAL CREDIT UNION is a federal credit union headquartered in MANISTIQUE, MI with 1 branch location and about $39.42 million in total assets. Opened 57 years ago in 1967, MANISTIQUE FEDERAL CREDIT UNION has about 3,126 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MANISTIQUE FEDERAL CREDIT UNION |
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Address: (Main Office) | 121 E Elk St MANISTIQUE, MI 49854-1207 |
Phone: | (906) 341-6914 |
Fax: | (906) 341-2810 |
Website: | https://manistiquefederal.com |
Branches: | 1 branch locations |
Members: | 3,126 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 18067 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $39,416,214 |
CEO/Manager: | Tammy Rochefort |
Chairperson: | Gary Watchorn |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,504,563 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,736,253 |
Unsecured Loans | 1,917,847 |
Other Loans | 11,149,172 |
TOTAL LOANS | 18,803,272 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -54,294 |
Land And Building | 173,943 |
Other Fixed Assets | 54,003 |
NCUSIF Deposit | 351,191 |
All Other Assets | 0 |
TOTAL ASSETS | 39,416,214 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 196,865 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,030,596 |
Regular shares | 18,818,284 |
All Other Shares & Deposits | 7,616,890 |
TOTAL SHARES & DEPOSITS | 34,465,770 |
TOTAL LIABILITIES | 34,662,635 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 4,753,579 |
TOTAL EQUITY | 4,753,579 |
TOTAL LIABILITIES, SHARES, & EQUITY | 39,416,214 |
INCOME & EXPENSE | |
Loan Income | 970,261 |
Investment Income | 682,911 |
Other Income | 9,294 |
Total Employee Compensation & Benefits | 367,749 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 385,721 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 46,900 |
Cost of Funds | 146,000 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 795,453 |
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