Dec, 31, 2023 — COMMONROOTS FEDERAL CREDIT UNION is a federal credit union headquartered in CRANBERRY TOWNSHIP, PA with 1 branch location and about $18.43 million in total assets. Opened 71 years ago in 1953, COMMONROOTS FEDERAL CREDIT UNION has about 1,988 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMONROOTS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1204 Freedom Rd CRANBERRY TOWNSHIP, PA 16066 |
| Phone: | (724) 776-2300 |
| Fax: | (724) 776-1377 |
| Website: | https://commonrootsfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,988 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8313 |
|---|---|
| Membership Type: | Associational - Religious, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $18,425,513 |
| CEO/Manager: | Kasi K Devinney |
| Chairperson: | Beth L Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,046,302 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,964,425 |
| Unsecured Loans | 2,273,050 |
| Other Loans | 2,572,026 |
| TOTAL LOANS | 8,809,501 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -67,970 |
| Land And Building | 0 |
| Other Fixed Assets | 6,828 |
| NCUSIF Deposit | 158,155 |
| All Other Assets | 0 |
| TOTAL ASSETS | 18,425,513 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 123,030 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,424,115 |
| Regular shares | 6,404,016 |
| All Other Shares & Deposits | 9,143,458 |
| TOTAL SHARES & DEPOSITS | 16,971,589 |
| TOTAL LIABILITIES | 17,094,619 |
| Regular Reserve | 0 |
| Other Reserves | 214,990 |
| Undivided Earnings | 1,115,904 |
| TOTAL EQUITY | 1,330,894 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 18,425,513 |
| INCOME & EXPENSE | |
| Loan Income | 443,130 |
| Investment Income | 131,829 |
| Other Income | 7,885 |
| Total Employee Compensation & Benefits | 329,597 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 341,139 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,705 |
| Cost of Funds | 64,366 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -67,534 |
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