Dec, 31, 2023 — MICHIGAN COLUMBUS FEDERAL CREDIT UNION is a federal credit union headquartered in LIVONIA, MI with 4 branch locations and about $79.16 million in total assets. Opened 77 years ago in 1947, MICHIGAN COLUMBUS FEDERAL CREDIT UNION has about 5,620 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MICHIGAN COLUMBUS FEDERAL CREDIT UNION |
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Address: (Main Office) | 30419 6 Mile Rd LIVONIA, MI 48152-3460 |
Phone: | (734) 425-5080 |
Fax: | (734) 425-1181 |
Website: | https://www.mcfcu.net |
Branches: | 4 branch locations |
Members: | 5,620 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5554 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1947 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $79,158,278 |
CEO/Manager: | Barbara Trevino |
Chairperson: | Erik M Mayernik |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,738,584 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 19,312,534 |
Unsecured Loans | 1,894,374 |
Other Loans | 7,366,665 |
TOTAL LOANS | 28,573,573 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -247,328 |
Land And Building | 744,655 |
Other Fixed Assets | 53,242 |
NCUSIF Deposit | 720,585 |
All Other Assets | 3,000 |
TOTAL ASSETS | 79,158,278 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 325 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 758,411 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 16,570,144 |
Regular shares | 33,927,269 |
All Other Shares & Deposits | 18,871,054 |
TOTAL SHARES & DEPOSITS | 69,368,467 |
TOTAL LIABILITIES | 70,127,203 |
Regular Reserve | 0 |
Other Reserves | 3,682,500 |
Undivided Earnings | 5,348,575 |
TOTAL EQUITY | 9,031,075 |
TOTAL LIABILITIES, SHARES, & EQUITY | 79,158,278 |
INCOME & EXPENSE | |
Loan Income | 1,365,854 |
Investment Income | 1,080,737 |
Other Income | 257,013 |
Total Employee Compensation & Benefits | 830,294 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,275,314 |
Non-operating Income & (Expense) | 1,253 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -13,714 |
Cost of Funds | 200,464 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 693,643 |
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