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CONSTRUCTION FEDERAL CREDIT UNION

Mar, 31, 2022 — CONSTRUCTION FEDERAL CREDIT UNION is a federal credit union headquartered in BINGHAM FARMS, MI with 1 branch location and about $30.15 million in total assets. Opened 48 years ago in 1974, CONSTRUCTION FEDERAL CREDIT UNION has about 1,224 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:http://cfcuonline.com
Branches:1 branch locations
Members:1,224
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$30,151,571
CEO/Manager:William Tomanek
Chairperson:Bruce Pregler

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,601,985
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 13,625,947
 Unsecured Loans 566,998
 Other Loans 755,246
 TOTAL LOANS 14,948,191
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -58,315
 Land And Building 0
 Other Fixed Assets 6,457
 NCUSIF Deposit 205,640
 All Other Assets 0
  TOTAL ASSETS 30,151,571
LIABILITIES & CAPITAL:  
 Dividends Payable 935
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 58,585
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 14,459,087
 Regular shares 8,432,986
 All Other Shares & Deposits 4,072,864
  TOTAL SHARES & DEPOSITS 26,964,937
  TOTAL LIABILITIES 27,024,457
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 3,127,114
  TOTAL EQUITY 3,127,114
  TOTAL LIABILITIES, SHARES, & EQUITY 30,151,571
INCOME & EXPENSE  
 Loan Income 120,641
 Investment Income 28,938
 Other Income 7,531
 Total Employee Compensation & Benefits 69,802
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 87,011
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 12,261
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,336
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