Dec, 31, 2023 — UNITED FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in SAGINAW, MI with 9 branch locations and about $320.92 million in total assets. Opened 60 years ago in 1964, UNITED FINANCIAL CREDIT UNION has about 22,767 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNITED FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4685 State St SAGINAW, MI 48603 |
| Phone: | (989) 777-3620 |
| Fax: | |
| Website: | https://unitedfinancialcu.org |
| Branches: | 9 branch locations |
| Members: | 22,767 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61657 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $320,918,283 |
| CEO/Manager: | BARBARA APPOLD |
| Chairperson: | EDWARD ULMER |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,579,912 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 101,838,112 |
| Unsecured Loans | 7,131,065 |
| Other Loans | 89,951,227 |
| TOTAL LOANS | 198,920,404 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -768,879 |
| Land And Building | 10,772,212 |
| Other Fixed Assets | 1,051,844 |
| NCUSIF Deposit | 2,817,871 |
| All Other Assets | 3,100 |
| TOTAL ASSETS | 320,918,283 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 827,964 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 48,589,039 |
| Regular shares | 74,608,201 |
| All Other Shares & Deposits | 171,702,814 |
| TOTAL SHARES & DEPOSITS | 294,900,054 |
| TOTAL LIABILITIES | 295,728,018 |
| Regular Reserve | 0 |
| Other Reserves | -4,745,104 |
| Undivided Earnings | 29,935,369 |
| TOTAL EQUITY | 25,190,265 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 320,918,283 |
| INCOME & EXPENSE | |
| Loan Income | 9,174,634 |
| Investment Income | 2,334,043 |
| Other Income | 2,040,510 |
| Total Employee Compensation & Benefits | 4,590,089 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,509,033 |
| Non-operating Income & (Expense) | 19,234 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 809,088 |
| Cost of Funds | 3,492,494 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,582,242 |
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