Dec, 31, 2023 — CPM FEDERAL CREDIT UNION is a federal credit union headquartered in NORTH CHARLESTON, SC with 11 branch locations and about $620.40 million in total assets. Opened 69 years ago in 1955, CPM FEDERAL CREDIT UNION has about 62,758 members and employs 197 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CPM FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1066 E Montague Ave NORTH CHARLESTON, SC 29405 |
| Phone: | (800) 255-1513 |
| Fax: | (843) 566-9312 |
| Website: | https://www.cpmfed.com |
| Branches: | 11 branch locations |
| Members: | 62,758 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21971 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $620,400,036 |
| CEO/Manager: | James Gergen |
| Chairperson: | Michael Chodnicki |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 65,685,834 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 98,302 |
| Real Estate Loans | 263,473,152 |
| Unsecured Loans | 42,062,995 |
| Other Loans | 98,368,124 |
| TOTAL LOANS | 403,989,311 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,358,772 |
| Land And Building | 17,999,922 |
| Other Fixed Assets | 529,500 |
| NCUSIF Deposit | 5,216,121 |
| All Other Assets | 0 |
| TOTAL ASSETS | 620,400,036 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 353 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,605,294 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 111,780,753 |
| Regular shares | 211,867,730 |
| All Other Shares & Deposits | 231,588,612 |
| TOTAL SHARES & DEPOSITS | 555,237,095 |
| TOTAL LIABILITIES | 564,842,742 |
| Regular Reserve | 0 |
| Other Reserves | -1,458,341 |
| Undivided Earnings | 57,015,635 |
| TOTAL EQUITY | 55,557,294 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 620,400,036 |
| INCOME & EXPENSE | |
| Loan Income | 20,224,570 |
| Investment Income | 2,862,452 |
| Other Income | 8,315,721 |
| Total Employee Compensation & Benefits | 15,070,677 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,841,042 |
| Non-operating Income & (Expense) | -32,947 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,580,558 |
| Cost of Funds | 4,707,398 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,525,373 |
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