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FRANKFORT COMMUNITY FEDERAL CREDIT UNION

Dec, 31, 2023 — FRANKFORT COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in FRANKFORT, MI with 0 branch location and about $18.06 million in total assets. Opened 65 years ago in 1959, FRANKFORT COMMUNITY FEDERAL CREDIT UNION has about 2,039 members and employs 5 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)
921 Forest Ave
FRANKFORT, MI 49635
Phone:(231) 352-9392
Fax:(231) 352-9344
Website:https://frankfortcu.org
Branches:0 branch locations
Members:2,039
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$18,056,325
CEO/Manager:Coury Carland
Chairperson:Chad Hollenbeck

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,167,564
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,126,392
 Unsecured Loans 772,854
 Other Loans 7,500,424
 TOTAL LOANS 11,399,670
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -139,917
 Land And Building 76,400
 Other Fixed Assets 7,716
 NCUSIF Deposit 186,512
 All Other Assets 0
  TOTAL ASSETS 18,056,325
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,853
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,585,689
 Regular shares 7,580,964
 All Other Shares & Deposits 5,501,833
  TOTAL SHARES & DEPOSITS 15,668,486
  TOTAL LIABILITIES 15,674,339
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 2,381,986
  TOTAL EQUITY 2,381,986
  TOTAL LIABILITIES, SHARES, & EQUITY 18,056,325
INCOME & EXPENSE  
 Loan Income 564,992
 Investment Income 154,801
 Other Income 82,923
 Total Employee Compensation & Benefits 207,313
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 244,332
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 31,717
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 319,354
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