Dec, 31, 2023 — FOCUS CREDIT UNION is a federally insured state chartered credit union headquartered in MENOMONEE FALLS, WI with 2 branch locations and about $56.71 million in total assets. Opened 60 years ago in 1964, FOCUS CREDIT UNION has about 6,754 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FOCUS CREDIT UNION |
|---|---|
| Address: (Main Office) | N88W14930 Main St MENOMONEE FALLS, WI 53051-3130 |
| Phone: | (262) 255-0833 |
| Fax: | (262) 255-9111 |
| Website: | https://www.focus-cu.com |
| Branches: | 2 branch locations |
| Members: | 6,754 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66451 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $56,707,275 |
| CEO/Manager: | Dean C Wilson |
| Chairperson: | John Weber |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,622,084 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 100,800 |
| Real Estate Loans | 7,766,652 |
| Unsecured Loans | 3,781,382 |
| Other Loans | 34,781,187 |
| TOTAL LOANS | 46,329,221 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -210,959 |
| Land And Building | 1,122,639 |
| Other Fixed Assets | 241,554 |
| NCUSIF Deposit | 496,824 |
| All Other Assets | 28,999 |
| TOTAL ASSETS | 56,707,275 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15,767 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 476,037 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,651,009 |
| Regular shares | 24,194,245 |
| All Other Shares & Deposits | 11,344,558 |
| TOTAL SHARES & DEPOSITS | 50,189,812 |
| TOTAL LIABILITIES | 50,681,616 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,025,659 |
| TOTAL EQUITY | 6,025,659 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 56,707,275 |
| INCOME & EXPENSE | |
| Loan Income | 2,303,584 |
| Investment Income | 433,750 |
| Other Income | 242,410 |
| Total Employee Compensation & Benefits | 833,362 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,077,213 |
| Non-operating Income & (Expense) | 25,022 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 100,488 |
| Cost of Funds | 160,100 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,239,165 |
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