Dec, 31, 2023 — COLORAMO FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND JUNCTION, CO with 3 branch locations and about $174.45 million in total assets. Opened 71 years ago in 1953, COLORAMO FEDERAL CREDIT UNION has about 12,299 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | COLORAMO FEDERAL CREDIT UNION |
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Address: (Main Office) | 516 28 Rd GRAND JUNCTION, CO 81501 |
Phone: | (970) 243-7280 |
Fax: | (970) 242-6506 |
Website: | https://www.coloramo.org |
Branches: | 3 branch locations |
Members: | 12,299 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 8725 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1953 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $174,450,698 |
CEO/Manager: | Anthony Restivo |
Chairperson: | Keith A Larsen |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,623,497 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 63,117,046 |
Unsecured Loans | 2,863,137 |
Other Loans | 67,829,735 |
TOTAL LOANS | 133,818,661 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -667,534 |
Land And Building | 11,025,607 |
Other Fixed Assets | 654,675 |
NCUSIF Deposit | 1,523,732 |
All Other Assets | 105,299 |
TOTAL ASSETS | 174,450,698 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,332,052 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 27,884,401 |
Regular shares | 43,208,707 |
All Other Shares & Deposits | 86,112,828 |
TOTAL SHARES & DEPOSITS | 157,205,936 |
TOTAL LIABILITIES | 158,537,988 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 15,912,710 |
TOTAL EQUITY | 15,912,710 |
TOTAL LIABILITIES, SHARES, & EQUITY | 174,450,698 |
INCOME & EXPENSE | |
Loan Income | 6,892,436 |
Investment Income | 589,573 |
Other Income | 1,190,486 |
Total Employee Compensation & Benefits | 2,981,191 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,993,068 |
Non-operating Income & (Expense) | -78,326 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 609,604 |
Cost of Funds | 2,063,621 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,077,197 |
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