Sep, 30, 2025 — COMMUNITY FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in LAKEVIEW, MI with 5 branch locations and about $148.00 million in total assets. Opened 41 years ago in 1985, COMMUNITY FIRST FEDERAL CREDIT UNION has about 13,573 members and employs 67 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNITY FIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9637 N Greenville Rd LAKEVIEW, MI 48850-9107 |
| Phone: | (989) 352-6031 |
| Fax: | (989) 352-6171 |
| Website: | https://www.cffcu.biz |
| Branches: | 5 branch locations |
| Members: | 13,573 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24199 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1985 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $147,995,052 |
| CEO/Manager: | Timothy G Rasmussen |
| Chairperson: | John Schwandt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,020,846 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 121,000 |
| Real Estate Loans | 76,271,929 |
| Unsecured Loans | 7,532,228 |
| Other Loans | 36,682,251 |
| TOTAL LOANS | 120,486,408 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -641,727 |
| Land And Building | 544,556 |
| Other Fixed Assets | 2,815,678 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,155,039 |
| All Other Assets | 88,000 |
| TOTAL ASSETS | 147,995,052 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,513 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,091,958 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 39,444,797 |
| Regular shares | 53,469,562 |
| All Other Shares & Deposits | 42,370,512 |
| TOTAL SHARES & DEPOSITS | 135,284,872 |
| TOTAL LIABILITIES | 136,380,343 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 11,614,709 |
| TOTAL EQUITY | 11,614,709 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 147,995,052 |
| INCOME & EXPENSE | |
| Loan Income | 7,139,255 |
| Investment Income | 470,474 |
| Other Income | 1,555,388 |
| Total Employee Compensation & Benefits | 3,853,754 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,510,318 |
| Non-operating Income & (Expense) | 654,670 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 729,864 |
| Cost of Funds | 1,688,995 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,054,743 |
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