Dec, 31, 2023 — NORTHWEST CONSUMERS FEDERAL CREDIT UNION is a federal credit union headquartered in TRAVERSE CITY, MI with 1 branch location and about $28.34 million in total assets. Opened 72 years ago in 1952, NORTHWEST CONSUMERS FEDERAL CREDIT UNION has about 2,752 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NORTHWEST CONSUMERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2948 Garfield Rd N TRAVERSE CITY, MI 49686-5008 |
| Phone: | (231) 947-7600 |
| Fax: | (231) 947-0732 |
| Website: | https://www.nwconsumers.org |
| Branches: | 1 branch locations |
| Members: | 2,752 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8077 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Oct 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $28,339,256 |
| CEO/Manager: | Tina M Steed |
| Chairperson: | Frances Butler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,219,401 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,247,985 |
| Unsecured Loans | 1,327,541 |
| Other Loans | 9,349,125 |
| TOTAL LOANS | 14,046,146 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -143,855 |
| Land And Building | 49,321 |
| Other Fixed Assets | 27,491 |
| NCUSIF Deposit | 261,647 |
| All Other Assets | 0 |
| TOTAL ASSETS | 28,339,256 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 727 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,963,052 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,295,124 |
| Regular shares | 10,167,072 |
| All Other Shares & Deposits | 8,063,062 |
| TOTAL SHARES & DEPOSITS | 22,525,258 |
| TOTAL LIABILITIES | 24,489,037 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,850,219 |
| TOTAL EQUITY | 3,850,219 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 28,339,256 |
| INCOME & EXPENSE | |
| Loan Income | 754,614 |
| Investment Income | 400,008 |
| Other Income | 341,120 |
| Total Employee Compensation & Benefits | 436,706 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 603,419 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 58,683 |
| Cost of Funds | 45,636 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 340,179 |
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