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MICHIGAN COLUMBUS FEDERAL CREDIT UNION

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.


ABA Routing Number: 272478842
Name:MICHIGAN COLUMBUS FEDERAL CREDIT UNION
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
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

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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