Dec, 31, 2023 — GLASS CITY FEDERAL CREDIT UNION is a federal credit union headquartered in MAUMEE, OH with 5 branch locations and about $299.04 million in total assets. Opened 77 years ago in 1947, GLASS CITY FEDERAL CREDIT UNION has about 26,577 members and employs 61 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GLASS CITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1340 Arrowhead Dr MAUMEE, OH 43537 |
| Phone: | (419) 887-1000 |
| Fax: | (419) 887-1098 |
| Website: | https://www.glasscityfcu.com |
| Branches: | 5 branch locations |
| Members: | 26,577 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5495 |
|---|---|
| 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: | Yes |
| Low Income Designation: | No |
| Assets: | $299,035,263 |
| CEO/Manager: | Julie Komisar |
| Chairperson: | Phil Browarsky |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,293,695 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 72,064,767 |
| Unsecured Loans | 9,946,421 |
| Other Loans | 149,734,807 |
| TOTAL LOANS | 232,035,474 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,644,643 |
| Land And Building | 6,570,160 |
| Other Fixed Assets | 590,803 |
| NCUSIF Deposit | 2,574,007 |
| All Other Assets | 0 |
| TOTAL ASSETS | 299,035,263 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 361,371 |
| Notes & Interest Payable | 10,000,000 |
| Accounts Payable & Other Liabilities | 5,314,830 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 52,280,199 |
| Regular shares | 132,865,194 |
| All Other Shares & Deposits | 72,491,187 |
| TOTAL SHARES & DEPOSITS | 257,636,579 |
| TOTAL LIABILITIES | 273,312,780 |
| Regular Reserve | 0 |
| Other Reserves | -2,238,267 |
| Undivided Earnings | 27,960,750 |
| TOTAL EQUITY | 25,722,483 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 299,035,263 |
| INCOME & EXPENSE | |
| Loan Income | 10,315,097 |
| Investment Income | 760,668 |
| Other Income | 1,806,539 |
| Total Employee Compensation & Benefits | 4,817,963 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,235,242 |
| Non-operating Income & (Expense) | -71,766 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 490,000 |
| Cost of Funds | 2,591,824 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,526,788 |
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