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BFG FEDERAL CREDIT UNION

Dec, 31, 2023 — BFG FEDERAL CREDIT UNION is a federal credit union headquartered in AKRON, OH with 2 branch locations and about $159.28 million in total assets. Opened 89 years ago in 1935, BFG FEDERAL CREDIT UNION has about 21,814 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BFG FEDERAL CREDIT UNION
Address:
(Main Office)
445 S Main St
AKRON, OH 44311-1056
Phone:(330) 374-2990
Fax:(330) 374-2984
Website:https://bfgfcu.org
Branches:2 branch locations
Members:21,814
Credit Union Type:Federal Credit Union
Charter Number:511
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1935
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$159,276,343
CEO/Manager:Cheryl J Foster
Chairperson:Peter W Bowler

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,978,650
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 29,948,980
 Unsecured Loans 10,323,112
 Other Loans 63,972,884
 TOTAL LOANS 104,244,976
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -345,441
 Land And Building 3,087,233
 Other Fixed Assets 493,905
 NCUSIF Deposit 1,466,105
 All Other Assets 22,562
  TOTAL ASSETS 159,276,343
LIABILITIES & CAPITAL:  
 Dividends Payable 20,102
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 779,557
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 25,076,930
 Regular shares 75,188,913
 All Other Shares & Deposits 41,055,267
  TOTAL SHARES & DEPOSITS 141,321,110
  TOTAL LIABILITIES 142,120,769
 Regular Reserve 0
 Other Reserves -1,326,241
 Undivided Earnings 18,481,815
  TOTAL EQUITY 17,155,574
  TOTAL LIABILITIES, SHARES, & EQUITY 159,276,343
INCOME & EXPENSE  
 Loan Income 4,820,705
 Investment Income 722,471
 Other Income 595,181
 Total Employee Compensation & Benefits 2,676,514
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,577,071
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 338,552
 Cost of Funds 193,167
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 306,367
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