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SOLON/CHAGRIN FALLS FEDERAL CREDIT UNION

Dec, 31, 2023 — SOLON/CHAGRIN FALLS FEDERAL CREDIT UNION is a federal credit union headquartered in SOLON, OH with 1 branch location and about $9.02 million in total assets. Opened 61 years ago in 1963, SOLON/CHAGRIN FALLS FEDERAL CREDIT UNION has about 720 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOLON/CHAGRIN FALLS FEDERAL CREDIT UNION
Address:
(Main Office)
33600 Inwood Dr
SOLON, OH 44139-4132
Phone:(440) 349-6257
Fax:(440) 349-7297
Website:https://www.soloncu.com
Branches:1 branch locations
Members:720
Credit Union Type:Federal Credit Union
Charter Number:15451
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1963
Last Audited:Jun 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$9,021,204
CEO/Manager:Kirk B Miller
Chairperson:Cheryl Ockunzzi

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents -43,001
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 1,914,703
 Unsecured Loans 155,531
 Other Loans 1,230,273
 TOTAL LOANS 3,300,507
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -49,720
 Land And Building 0
 Other Fixed Assets 7,106
 NCUSIF Deposit 80,499
 All Other Assets 0
  TOTAL ASSETS 9,021,204
LIABILITIES & CAPITAL:  
 Dividends Payable 44,565
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 18,209
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,916,372
 All Other Shares & Deposits 1,312,409
  TOTAL SHARES & DEPOSITS 7,228,781
  TOTAL LIABILITIES 7,291,555
 Regular Reserve 0
 Other Reserves 160,037
 Undivided Earnings 1,569,612
  TOTAL EQUITY 1,729,649
  TOTAL LIABILITIES, SHARES, & EQUITY 9,021,204
INCOME & EXPENSE  
 Loan Income 227,875
 Investment Income 132,857
 Other Income 2,654
 Total Employee Compensation & Benefits 127,207
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 53,926
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,200
 Cost of Funds 153,577
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 46,291
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