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National Credit Union Service Organization

U.P. STATE CREDIT UNION

Dec, 31, 2023 — U.P. STATE CREDIT UNION is a federally insured state chartered credit union headquartered in ESCANABA, MI with 7 branch locations and about $134.71 million in total assets. Opened 69 years ago in 1955, U.P. STATE CREDIT UNION has about 10,900 members and employs 39 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:U.P. STATE CREDIT UNION
Address:
(Main Office)
123 S Lincoln Rd
ESCANABA, MI 49829-1339
Phone:(906) 786-1146
Fax:(906) 786-0269
Website:https://www.upscu.com
Branches:7 branch locations
Members:10,900
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:62085
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1955
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$134,714,455
CEO/Manager:Raymond J Theoret
Chairperson:Howard Haulotte

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,090,343
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 31,916,028
 Unsecured Loans 9,303,306
 Other Loans 39,228,657
 TOTAL LOANS 80,447,991
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -279,052
 Land And Building 3,593,987
 Other Fixed Assets 525,809
 NCUSIF Deposit 1,245,365
 All Other Assets 16,500
  TOTAL ASSETS 134,714,455
LIABILITIES & CAPITAL:  
 Dividends Payable 2,213
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,456,908
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 28,719,137
 Regular shares 74,680,497
 All Other Shares & Deposits 16,464,523
  TOTAL SHARES & DEPOSITS 119,864,157
  TOTAL LIABILITIES 121,323,278
 Regular Reserve 0
 Other Reserves 3,517,019
 Undivided Earnings 9,874,158
  TOTAL EQUITY 13,391,177
  TOTAL LIABILITIES, SHARES, & EQUITY 134,714,455
INCOME & EXPENSE  
 Loan Income 4,162,124
 Investment Income 1,892,747
 Other Income 455,611
 Total Employee Compensation & Benefits 2,583,375
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,518,191
 Non-operating Income & (Expense) -43,903
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 103,964
 Cost of Funds 274,986
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,990,793
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