-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 An+MjNX2xwSaQLLtwO2zGn6qJ2xxpGsbOIsbeA3M0sgBpZfvvhsPjcGX1RYgRtzT
 96u1nDURda9Vn6R8y8YDUg==

<SEC-DOCUMENT>0001255350-03-000001.txt : 20030728
<SEC-HEADER>0001255350-03-000001.hdr.sgml : 20030728
<ACCEPTANCE-DATETIME>20030728102828
ACCESSION NUMBER:		0001255350-03-000001
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030725
FILED AS OF DATE:		20030728

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PELICAN FINANCIAL INC
		CENTRAL INDEX KEY:			0001037652
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				582298215
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		315 E EISENHOWER
		STREET 2:		800-765-5562
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
		BUSINESS PHONE:		7346629733

	MAIL ADDRESS:	
		STREET 1:		315 EAST EISENHOWER
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PN HOLDINGS INC
		DATE OF NAME CHANGE:	19990324

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CLEMENS MICHAEL N
		CENTRAL INDEX KEY:			0001255350

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14986
		FILM NUMBER:		03805055

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		7346629733

	MAIL ADDRESS:	
		STREET 1:		PELICAN FINANCIAL INC
		STREET 2:		3767 RANCHERO DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-07-25</periodOfReport>


    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001037652</issuerCik>
        <issuerName>PELICAN FINANCIAL INC</issuerName>
        <issuerTradingSymbol>PFI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001255350</rptOwnerCik>
            <rptOwnerName>CLEMENS MICHAEL N</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PELICAN FINANCIAL INC</rptOwnerStreet1>
            <rptOwnerStreet2>3767 RANCHERO DRIVE</rptOwnerStreet2>
            <rptOwnerCity>ANN ARBOR</rptOwnerCity>
            <rptOwnerState>MI</rptOwnerState>
            <rptOwnerZipCode>48108</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>200</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>



    <ownerSignature>
        <signatureName>Michael N Clemens</signatureName>
        <signatureDate>2003-07-28</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----