Dec, 31, 2023 — CYPRUS FEDERAL CREDIT UNION is a federal credit union headquartered in WEST JORDAN, UT with 22 branch locations and about $1.74 billion in total assets. Opened 89 years ago in 1935, CYPRUS FEDERAL CREDIT UNION has about 134,957 members and employs 457 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CYPRUS FEDERAL CREDIT UNION |
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Address: (Main Office) | 3876 W Center view Way WEST JORDAN, UT 84084 |
Phone: | (801) 260-7600 |
Fax: | (801) 260-7788 |
Website: | https://www.cypruscu.com |
Branches: | 22 branch locations |
Members: | 134,957 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24688 |
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Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,743,497,895 |
CEO/Manager: | Todd Adamson |
Chairperson: | Richard Stapler |
ASSETS: | $ Amount |
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Cash & Equivalents | 77,580,609 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 444,314 |
Real Estate Loans | 608,912,011 |
Unsecured Loans | 96,808,909 |
Other Loans | 843,809,951 |
TOTAL LOANS | 1,549,595,822 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -15,208,948 |
Land And Building | 56,944,992 |
Other Fixed Assets | 5,711,167 |
NCUSIF Deposit | 13,766,192 |
All Other Assets | 662,512 |
TOTAL ASSETS | 1,743,497,895 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 81,250,000 |
Accounts Payable & Other Liabilities | 25,685,202 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 288,365,439 |
Regular shares | 349,450,507 |
All Other Shares & Deposits | 809,793,613 |
TOTAL SHARES & DEPOSITS | 1,447,609,560 |
TOTAL LIABILITIES | 1,554,544,762 |
Regular Reserve | 0 |
Other Reserves | -5,904,404 |
Undivided Earnings | 194,857,537 |
TOTAL EQUITY | 188,953,133 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,743,497,895 |
INCOME & EXPENSE | |
Loan Income | 80,971,836 |
Investment Income | 2,632,088 |
Other Income | 7,389,923 |
Total Employee Compensation & Benefits | 33,292,956 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 30,604,600 |
Non-operating Income & (Expense) | 3,580,980 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,706,186 |
Cost of Funds | 28,886,637 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 11,817,591 |
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» See also Statement of Financial Condition