Dec, 31, 2023 — FIRST CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in MARSHFIELD, WI with 1 branch location and about $43.51 million in total assets. Opened 57 years ago in 1967, FIRST CHOICE CREDIT UNION has about 3,109 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST CHOICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1614 E 4th St MARSHFIELD, WI 54449-4601 |
| Phone: | (715) 387-8405 |
| Fax: | (715) 389-1007 |
| Website: | https://firstchoicecreditunion.com |
| Branches: | 1 branch locations |
| Members: | 3,109 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66545 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $43,508,576 |
| CEO/Manager: | ROB SCHULZ |
| Chairperson: | DENNIS KMIEC |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,645,409 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 8,556,357 |
| Unsecured Loans | 1,006,440 |
| Other Loans | 10,606,923 |
| TOTAL LOANS | 20,169,720 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,146 |
| Land And Building | 377,133 |
| Other Fixed Assets | 71,840 |
| NCUSIF Deposit | 382,257 |
| All Other Assets | 0 |
| TOTAL ASSETS | 43,508,576 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 49,180 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 238,870 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,808,088 |
| Regular shares | 19,143,482 |
| All Other Shares & Deposits | 8,991,242 |
| TOTAL SHARES & DEPOSITS | 36,942,814 |
| TOTAL LIABILITIES | 37,230,864 |
| Regular Reserve | 0 |
| Other Reserves | 1,725,000 |
| Undivided Earnings | 4,552,712 |
| TOTAL EQUITY | 6,277,712 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 43,508,576 |
| INCOME & EXPENSE | |
| Loan Income | 962,203 |
| Investment Income | 582,027 |
| Other Income | 56,461 |
| Total Employee Compensation & Benefits | 612,945 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 562,417 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 21,352 |
| Cost of Funds | 236,930 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 336,424 |
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