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.
Name: | FRANKFORT COMMUNITY FEDERAL CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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