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National Credit Union Service Organization

CIRCLE FEDERAL CREDIT UNION

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.


ABA Routing Number: 272483387
Name:CIRCLE FEDERAL CREDIT UNION
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
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

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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