Jun, 30, 2024 — CONSTRUCTION FEDERAL CREDIT UNION is a federal credit union headquartered in BINGHAM FARMS, MI with 1 branch location and about $29.70 million in total assets. Opened 50 years ago in 1974, CONSTRUCTION FEDERAL CREDIT UNION has about 1,202 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CONSTRUCTION FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 30400 Telegraph Rd Ste 122 BINGHAM FARMS, MI 48025 |
| Phone: | (248) 358-4140 |
| Fax: | (248) 358-2452 |
| Website: | https://cfcuonline.com |
| Branches: | 1 branch locations |
| Members: | 1,202 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21798 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,695,412 |
| CEO/Manager: | William Tomanek |
| Chairperson: | Bruce Pregler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,439,945 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,351,292 |
| Unsecured Loans | 662,406 |
| Other Loans | 957,384 |
| TOTAL LOANS | 17,971,082 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -56,228 |
| Land And Building | 0 |
| Other Fixed Assets | 5,774 |
| NCUSIF Deposit | 218,693 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,695,412 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 758 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 76,162 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,881,398 |
| Regular shares | 8,338,864 |
| All Other Shares & Deposits | 3,159,768 |
| TOTAL SHARES & DEPOSITS | 26,380,030 |
| TOTAL LIABILITIES | 26,456,950 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,238,462 |
| TOTAL EQUITY | 3,238,462 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,695,412 |
| INCOME & EXPENSE | |
| Loan Income | 403,400 |
| Investment Income | 121,722 |
| Other Income | 34,236 |
| Total Employee Compensation & Benefits | 199,592 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 273,643 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 35,957 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 109,012 |
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