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National Credit Union Service Organization

MEMBERFOCUS COMMUNITY CREDIT UNION

Dec, 31, 2023 — MEMBERFOCUS COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in FARMINGTON, MI with 6 branch locations and about $434.94 million in total assets. Opened 89 years ago in 1935, MEMBERFOCUS COMMUNITY CREDIT UNION has about 27,987 members and employs 87 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272477746
Name:MEMBERFOCUS COMMUNITY CREDIT UNION
Address:
(Main Office)
22981 Farmington Rd
FARMINGTON, MI 48336-3915
Phone:(248) 474-2502
Fax:
Website:https://loccreditunion.com
Branches:6 branch locations
Members:27,987
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61404
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1935
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$434,942,078
CEO/Manager:Stephen Grech
Chairperson:Michael Lasley

Call Report

  • Credit Builder
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 14,486,054
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 134,419,221
 Unsecured Loans 8,175,152
 Other Loans 107,072,400
 TOTAL LOANS 249,666,773
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,044,438
 Land And Building 7,374,622
 Other Fixed Assets 1,095,288
 NCUSIF Deposit 4,037,740
 All Other Assets 0
  TOTAL ASSETS 434,942,078
LIABILITIES & CAPITAL:  
 Dividends Payable 52,632
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,338,342
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 94,448,904
 Regular shares 181,225,092
 All Other Shares & Deposits 123,122,759
  TOTAL SHARES & DEPOSITS 398,796,756
  TOTAL LIABILITIES 404,187,730
 Regular Reserve 0
 Other Reserves -4,095,537
 Undivided Earnings 34,849,885
  TOTAL EQUITY 30,754,348
  TOTAL LIABILITIES, SHARES, & EQUITY 434,942,078
INCOME & EXPENSE  
 Loan Income 11,073,232
 Investment Income 4,350,746
 Other Income 869,014
 Total Employee Compensation & Benefits 6,997,436
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,716,249
 Non-operating Income & (Expense) 13,794
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 546,540
 Cost of Funds 1,357,833
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,158,503
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