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COMMUNITY FIRST FEDERAL CREDIT UNION

Mar, 31, 2021 — COMMUNITY FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in LAKEVIEW, MI with 4 branch locations and about $91.01 million in total assets. Opened 36 years ago in 1985, COMMUNITY FIRST FEDERAL CREDIT UNION has about 10,779 members and employs 50 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: 272486724
Name:COMMUNITY FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
9637 N GREENVILLE
LAKEVIEW, MI 48850
Phone:(989) 352-6031
Fax:(989) 352-6171
Website:http://cffcu.biz
Branches:4 branch locations
Members:10,779
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$91,008,253
CEO/Manager:Timothy G Rasmussen
Chairperson:John Scwandt

Call Report

  • Commercial Loans
  • Credit Builder
  • Interest Only or Payment Option 1st Mortgage Loans
  • Micro Business Loans
  • Overdraft Lines of Credit
  • Participation Loans
  • Pay Day Loans
  • Real Estate Loans
  • Refund Anticipation Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Health Savings Accounts
  • In-School Branches
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,947,648
TOTAL INVESTMENTS 368,400
Loans Held for Sale 941,700
 
 Real Estate Loans 41,150,718
 Unsecured Loans 3,897,070
 Other Loans 21,146,398
 TOTAL LOANS 66,194,186
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -357,105
 Land And Building 280,583
 Other Fixed Assets 467,083
 NCUSIF Deposit 743,815
 All Other Assets 2,421,943
  TOTAL ASSETS 91,008,253
LIABILITIES & CAPITAL:  
 Dividends Payable 23
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 615,860
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,948,969
 Regular shares 37,539,791
 All Other Shares & Deposits 25,178,967
  TOTAL SHARES & DEPOSITS 84,667,727
  TOTAL LIABILITIES 85,283,610
 Regular Reserve 2,513,411
 Other Reserves 0
 Undivided Earnings 3,211,232
  TOTAL EQUITY 5,724,643
  TOTAL LIABILITIES, SHARES, & EQUITY 91,008,253
INCOME & EXPENSE  
 Loan Income 1,009,301
 Investment Income 3,188
 Other Income 410,261
 Total Employee Compensation & Benefits 721,798
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 430,372
 Non-operating Income & (Expense) 11,191
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -22,910
 Cost of Funds 101,252
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 204,979
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