Dec, 31, 2023 — COMMUNICATION FEDERAL CREDIT UNION is a federal credit union headquartered in OKLAHOMA CITY, OK with 25 branch locations and about $2.06 billion in total assets. Opened 85 years ago in 1939, COMMUNICATION FEDERAL CREDIT UNION has about 121,762 members and employs 274 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNICATION FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4141 NW Expressway OKLAHOMA CITY, OK 73116-1682 |
| Phone: | (405) 879-5600 |
| Fax: | (405) 879-8698 |
| Website: | https://www.comfedcu.org |
| Branches: | 25 branch locations |
| Members: | 121,762 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3454 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,059,830,900 |
| CEO/Manager: | Larry Shropshire |
| Chairperson: | Mirl Whisman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 201,599,706 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 413,374 |
| Real Estate Loans | 386,676,586 |
| Unsecured Loans | 57,095,949 |
| Other Loans | 1,142,219,331 |
| TOTAL LOANS | 1,585,991,866 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,259,445 |
| Land And Building | 38,256,678 |
| Other Fixed Assets | 4,741,892 |
| NCUSIF Deposit | 14,902,057 |
| All Other Assets | 7,176,895 |
| TOTAL ASSETS | 2,059,830,900 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 21,927 |
| Notes & Interest Payable | 50,000,000 |
| Accounts Payable & Other Liabilities | 20,331,538 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 224,600,568 |
| Regular shares | 235,318,877 |
| All Other Shares & Deposits | 1,300,709,580 |
| TOTAL SHARES & DEPOSITS | 1,760,629,025 |
| TOTAL LIABILITIES | 1,830,982,490 |
| Regular Reserve | 0 |
| Other Reserves | -16,192,182 |
| Undivided Earnings | 245,040,592 |
| TOTAL EQUITY | 228,848,410 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,059,830,900 |
| INCOME & EXPENSE | |
| Loan Income | 85,756,265 |
| Investment Income | 13,919,648 |
| Other Income | 10,103,563 |
| Total Employee Compensation & Benefits | 24,323,089 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 21,283,427 |
| Non-operating Income & (Expense) | 159,595 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,847,176 |
| Cost of Funds | 38,117,492 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,893,884 |
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