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CONSTRUCTION FEDERAL CREDIT UNION

Jun, 30, 2021 — CONSTRUCTION FEDERAL CREDIT UNION is a federal credit union headquartered in BINGHAM FARMS, MI with 1 branch location and about $31.13 million in total assets. Opened 47 years ago in 1974, CONSTRUCTION FEDERAL CREDIT UNION has about 1,278 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
BINGHAM FARMS, MI 48025
Phone:(248) 358-4140
Fax:(248) 358-2452
Website:http://cfcuonline.com
Branches:1 branch locations
Members:1,278
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$31,133,651
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 9,844,233
TOTAL INVESTMENTS 7,663,800
Loans Held for Sale 0
 
 Real Estate Loans 11,874,229
 Unsecured Loans 497,457
 Other Loans 1,021,232
 TOTAL LOANS 13,392,918
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -33,388
 Land And Building 0
 Other Fixed Assets 4,888
 NCUSIF Deposit 205,640
 All Other Assets 55,560
  TOTAL ASSETS 31,133,651
LIABILITIES & CAPITAL:  
 Dividends Payable 1,772
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 45,723
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 15,902,230
 Regular shares 7,293,939
 All Other Shares & Deposits 4,748,711
  TOTAL SHARES & DEPOSITS 27,944,880
  TOTAL LIABILITIES 27,992,375
 Regular Reserve 483,273
 Other Reserves 0
 Undivided Earnings 2,658,003
  TOTAL EQUITY 3,141,276
  TOTAL LIABILITIES, SHARES, & EQUITY 31,133,651
INCOME & EXPENSE  
 Loan Income 215,231
 Investment Income 47,286
 Other Income 16,981
 Total Employee Compensation & Benefits 140,759
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 167,252
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 39,134
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -48,531
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