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COMPASS FINANCIAL FEDERAL CREDIT UNION

Dec, 31, 2020 — COMPASS FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in HIALEAH, FL with 1 branch location and about $23.86 million in total assets. Opened 85 years ago in 1936, COMPASS FINANCIAL FEDERAL CREDIT UNION has about 2,220 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COMPASS FINANCIAL FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 160580
HIALEAH, FL 33016
Phone:(305) 887-9781
Fax:(305) 887-3310
Website:http://www.compassffcu.org
Branches:1 branch locations
Members:2,220
Credit Union Type:Federal Credit Union
Charter Number:1068
Membership Type:Multiple common bond - Primarily transportation
Corporate Credit Union:No
Year Opened:1936
Last Audited:Mar 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$23,864,638
CEO/Manager:Leonardo M Acosta
Chairperson:Raymond J Jones

Call Report

  • Credit Builder
  • Overdraft Protection
  • Pay Day Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,081,181
TOTAL INVESTMENTS 26,965
Loans Held for Sale 1,006,620
 
 Real Estate Loans 1,034,682
 Unsecured Loans 1,361,481
 Other Loans 12,797,351
 TOTAL LOANS 15,193,514
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -236,418
 Land And Building 0
 Other Fixed Assets 71,374
 NCUSIF Deposit 153,993
 All Other Assets 1,567,409
  TOTAL ASSETS 23,864,638
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 601,871
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,154,988
 Regular shares 10,262,398
 All Other Shares & Deposits 4,980,704
  TOTAL SHARES & DEPOSITS 20,398,090
  TOTAL LIABILITIES 20,999,961
 Regular Reserve 1,214,103
 Other Reserves 0
 Undivided Earnings 1,650,574
  TOTAL EQUITY 2,864,677
  TOTAL LIABILITIES, SHARES, & EQUITY 23,864,638
INCOME & EXPENSE  
 Loan Income 1,019,712
 Investment Income 17,527
 Other Income 619,323
 Total Employee Compensation & Benefits 978,491
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 803,038
 Non-operating Income & (Expense) 2,940
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 66,134
 Cost of Funds 95,550
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -283,711
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