Dec, 31, 2023 — COMMUNITY CHOICE CREDIT UNION is a federally insured state chartered credit union headquartered in FARMINGTON HILLS, MI with 24 branch locations and about $1.79 billion in total assets. Opened 89 years ago in 1935, COMMUNITY CHOICE CREDIT UNION has about 114,928 members and employs 424 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNITY CHOICE CREDIT UNION |
|---|---|
| Address: (Main Office) | 31155 Northwestern Hwy FARMINGTON HILLS, MI 48334-2502 |
| Phone: | (877) 243-2528 |
| Fax: | (248) 785-5110 |
| Website: | https://www.communitychoicecu.com |
| Branches: | 24 branch locations |
| Members: | 114,928 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64880 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,790,048,419 |
| CEO/Manager: | Robert Bava |
| Chairperson: | Brian Wilson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 62,344,952 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 604,613,887 |
| Unsecured Loans | 95,269,875 |
| Other Loans | 650,344,573 |
| TOTAL LOANS | 1,350,875,680 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,955,586 |
| Land And Building | 38,089,632 |
| Other Fixed Assets | 7,667,781 |
| NCUSIF Deposit | 14,228,291 |
| All Other Assets | 641,096 |
| TOTAL ASSETS | 1,790,048,419 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,626 |
| Notes & Interest Payable | 100,000,000 |
| Accounts Payable & Other Liabilities | 28,555,288 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 417,992,254 |
| Regular shares | 759,489,982 |
| All Other Shares & Deposits | 339,007,045 |
| TOTAL SHARES & DEPOSITS | 1,516,489,280 |
| TOTAL LIABILITIES | 1,645,059,194 |
| Regular Reserve | 0 |
| Other Reserves | 34,321,922 |
| Undivided Earnings | 110,667,303 |
| TOTAL EQUITY | 144,989,225 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,790,048,419 |
| INCOME & EXPENSE | |
| Loan Income | 66,774,526 |
| Investment Income | 5,298,226 |
| Other Income | 14,996,826 |
| Total Employee Compensation & Benefits | 39,934,555 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 37,860,340 |
| Non-operating Income & (Expense) | 43,289 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,114,951 |
| Cost of Funds | 13,673,004 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,314,467 |
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