Dec, 31, 2023 — CIRCLE FEDERAL CREDIT UNION is a federal credit union headquartered in NILES, MI with 3 branch locations and about $103.18 million in total assets. Opened 49 years ago in 1975, CIRCLE FEDERAL CREDIT UNION has about 5,878 members and employs 37 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CIRCLE FEDERAL CREDIT UNION |
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Address: (Main Office) | 507 E Main St NILES, MI 49120-2617 |
Phone: | (269) 684-6005 |
Fax: | (269) 684-6173 |
Website: | https://www.circlefcu.org |
Branches: | 3 branch locations |
Members: | 5,878 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 22114 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1975 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $103,177,969 |
CEO/Manager: | Susan Larson |
Chairperson: | Richard Knott |
ASSETS: | $ Amount |
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Cash & Equivalents | 6,007,402 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 231,800 |
Real Estate Loans | 67,064,270 |
Unsecured Loans | 2,125,127 |
Other Loans | 20,878,784 |
TOTAL LOANS | 90,068,181 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -223,174 |
Land And Building | 1,549,425 |
Other Fixed Assets | 129,662 |
NCUSIF Deposit | 893,999 |
All Other Assets | 0 |
TOTAL ASSETS | 103,177,969 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 627,623 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 16,632,235 |
Regular shares | 31,945,131 |
All Other Shares & Deposits | 45,727,679 |
TOTAL SHARES & DEPOSITS | 94,305,043 |
TOTAL LIABILITIES | 94,932,666 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 8,245,303 |
TOTAL EQUITY | 8,245,303 |
TOTAL LIABILITIES, SHARES, & EQUITY | 103,177,969 |
INCOME & EXPENSE | |
Loan Income | 4,419,131 |
Investment Income | 150,790 |
Other Income | 358,148 |
Total Employee Compensation & Benefits | 2,346,920 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,483,159 |
Non-operating Income & (Expense) | 33,799 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,717 |
Cost of Funds | 1,047,103 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,352,253 |
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