Dec, 31, 2023 — BLOOM CREDIT UNION is a federally insured state chartered credit union headquartered in WYOMING, MI with 5 branch locations and about $190.59 million in total assets. Opened 73 years ago in 1951, BLOOM CREDIT UNION has about 13,439 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BLOOM CREDIT UNION |
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Address: (Main Office) | 1414 Burton St SW WYOMING, MI 49509 |
Phone: | (616) 452-2161 |
Fax: | |
Website: | https://bloomcu.org/ |
Branches: | 5 branch locations |
Members: | 13,439 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 62243 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $190,592,884 |
CEO/Manager: | Joe Heintskill |
Chairperson: | Roxanne Speck |
ASSETS: | $ Amount |
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Cash & Equivalents | 14,148,627 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 66,903,825 |
Unsecured Loans | 10,914,520 |
Other Loans | 47,552,916 |
TOTAL LOANS | 125,452,262 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -811,089 |
Land And Building | 3,573,414 |
Other Fixed Assets | 892,485 |
NCUSIF Deposit | 1,461,943 |
All Other Assets | 0 |
TOTAL ASSETS | 190,592,884 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,557,177 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 32,679,960 |
Regular shares | 87,996,810 |
All Other Shares & Deposits | 51,223,569 |
TOTAL SHARES & DEPOSITS | 171,900,339 |
TOTAL LIABILITIES | 173,457,516 |
Regular Reserve | 0 |
Other Reserves | -2,347,680 |
Undivided Earnings | 19,483,048 |
TOTAL EQUITY | 17,135,368 |
TOTAL LIABILITIES, SHARES, & EQUITY | 190,592,884 |
INCOME & EXPENSE | |
Loan Income | 7,770,700 |
Investment Income | 1,812,442 |
Other Income | 2,641,872 |
Total Employee Compensation & Benefits | 3,633,409 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,846,582 |
Non-operating Income & (Expense) | 391,148 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 803,096 |
Cost of Funds | 1,186,822 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,197,385 |
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