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FRANKFORT COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2020 — FRANKFORT COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRANKFORT, MI with 0 branch location and about $17.17 million in total assets. Opened 62 years ago in 1959, FRANKFORT COMMUNITY FEDERAL CREDIT UNION has about 2,029 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.


ABA Routing Number: 272480157
Name:FRANKFORT COMMUNITY FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 311
FRANKFORT, MI 49635
Phone:(231) 352-9392
Fax:(231) 352-9344
Website:http://frankfortcu.org
Branches:0 branch locations
Members:2,029
Credit Union Type:Federal Credit Union
Charter Number:13355
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1959
Last Audited:May 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$17,168,244
CEO/Manager:Jeffery P Sandman
Chairperson:Chad Hollenbeck

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,945,629
TOTAL INVESTMENTS 795,600
Loans Held for Sale 0
 
 Real Estate Loans 2,425,561
 Unsecured Loans 996,842
 Other Loans 6,797,428
 TOTAL LOANS 10,219,831
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -80,435
 Land And Building 79,896
 Other Fixed Assets 22,548
 NCUSIF Deposit 116,703
 All Other Assets 68,472
  TOTAL ASSETS 17,168,244
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 23,403
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,906,397
 Regular shares 6,892,717
 All Other Shares & Deposits 6,219,952
  TOTAL SHARES & DEPOSITS 15,019,066
  TOTAL LIABILITIES 15,042,469
 Regular Reserve 662,295
 Other Reserves 0
 Undivided Earnings 1,463,480
  TOTAL EQUITY 2,125,775
  TOTAL LIABILITIES, SHARES, & EQUITY 17,168,244
INCOME & EXPENSE  
 Loan Income 685,463
 Investment Income 25,162
 Other Income 96,437
 Total Employee Compensation & Benefits 260,993
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 207,675
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,904
 Cost of Funds 68,469
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 266,021
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