Dec, 31, 2023 — CP FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in JACKSON, MI with 15 branch locations and about $703.07 million in total assets. Opened 71 years ago in 1953, CP FINANCIAL CREDIT UNION has about 66,190 members and employs 196 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CP FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1100 Clinton Rd JACKSON, MI 49202-2060 |
| Phone: | (517) 784-7101 |
| Fax: | (517) 784-6677 |
| Website: | https://www.trueccu.com |
| Branches: | 15 branch locations |
| Members: | 66,190 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68718 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $703,073,726 |
| CEO/Manager: | Chrissy Siders |
| Chairperson: | Josh Burgett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 23,238,624 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 253,742,056 |
| Unsecured Loans | 67,796,225 |
| Other Loans | 254,574,366 |
| TOTAL LOANS | 576,112,647 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,988,396 |
| Land And Building | 7,700,984 |
| Other Fixed Assets | 2,565,849 |
| NCUSIF Deposit | 5,922,910 |
| All Other Assets | 80,902 |
| TOTAL ASSETS | 703,073,726 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 20,000,000 |
| Accounts Payable & Other Liabilities | 5,539,524 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 163,324,592 |
| Regular shares | 245,878,368 |
| All Other Shares & Deposits | 199,649,232 |
| TOTAL SHARES & DEPOSITS | 608,852,192 |
| TOTAL LIABILITIES | 634,391,716 |
| Regular Reserve | 0 |
| Other Reserves | -5,285,370 |
| Undivided Earnings | 73,967,380 |
| TOTAL EQUITY | 68,682,010 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 703,073,726 |
| INCOME & EXPENSE | |
| Loan Income | 29,310,389 |
| Investment Income | 2,300,692 |
| Other Income | 5,413,755 |
| Total Employee Compensation & Benefits | 17,668,356 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,027,536 |
| Non-operating Income & (Expense) | -139,901 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,314,670 |
| Cost of Funds | 4,247,519 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,353,398 |
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