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CIRCLE FEDERAL CREDIT UNION

Mar, 31, 2021 — CIRCLE FEDERAL CREDIT UNION is a federal credit union headquartered in NILES, MI with 3 branch locations and about $88.75 million in total assets. Opened 46 years ago in 1975, CIRCLE FEDERAL CREDIT UNION has about 5,304 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272483387
Name:CIRCLE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 490
NILES, MI 49120
Phone:(269) 684-6005
Fax:(269) 684-6173
Website:http://www.circlefcu.org
Branches:3 branch locations
Members:5,304
Credit Union Type:Federal Credit Union
Charter Number:22114
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$88,745,814
CEO/Manager:David B Van Strien
Chairperson:Richard Knott

Call Report

  • Commercial Loans
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 21,660,546
TOTAL INVESTMENTS 10,706,308
Loans Held for Sale 703,150
 
 Real Estate Loans 34,773,291
 Unsecured Loans 1,342,914
 Other Loans 14,442,475
 TOTAL LOANS 50,558,680
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -154,417
 Land And Building 2,054,276
 Other Fixed Assets 264,688
 NCUSIF Deposit 697,258
 All Other Assets 2,255,325
  TOTAL ASSETS 88,745,814
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,022,658
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,275,730
 Regular shares 35,429,671
 All Other Shares & Deposits 28,970,906
  TOTAL SHARES & DEPOSITS 81,676,307
  TOTAL LIABILITIES 82,698,965
 Regular Reserve 341,245
 Other Reserves 0
 Undivided Earnings 5,705,604
  TOTAL EQUITY 6,046,849
  TOTAL LIABILITIES, SHARES, & EQUITY 88,745,814
INCOME & EXPENSE  
 Loan Income 587,601
 Investment Income 22,205
 Other Income 107,385
 Total Employee Compensation & Benefits 675,232
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 414,545
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,816
 Cost of Funds 49,395
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 82,753
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