Dec, 31, 2023 — COMMUNITY PROMISE FEDERAL CREDIT UNION is a federal credit union headquartered in KALAMAZOO, MI with 1 branch location and about $692,883 in total assets. Opened 12 years ago in 2012, COMMUNITY PROMISE FEDERAL CREDIT UNION has about 273 members and employs 4 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 PROMISE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1313 Portage St KALAMAZOO, MI 49001-3050 |
| Phone: | (269) 459-1777 |
| Fax: | |
| Website: | https://www.communitypromisefcu.org |
| Branches: | 1 branch locations |
| Members: | 273 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24848 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 2012 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $692,883 |
| CEO/Manager: | Donald R Viland |
| Chairperson: | Jim Houston |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 132,182 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 95,167 |
| Other Loans | 436,715 |
| TOTAL LOANS | 531,882 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,616 |
| Land And Building | 0 |
| Other Fixed Assets | 18,278 |
| NCUSIF Deposit | 6,419 |
| All Other Assets | 7,155 |
| TOTAL ASSETS | 692,883 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,158 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 5,585 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 80,000 |
| Share Drafts | 2,936 |
| Regular shares | 217,292 |
| All Other Shares & Deposits | 355,540 |
| TOTAL SHARES & DEPOSITS | 575,768 |
| TOTAL LIABILITIES | 662,511 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 30,372 |
| TOTAL EQUITY | 30,372 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 692,883 |
| INCOME & EXPENSE | |
| Loan Income | 42,715 |
| Investment Income | 6,497 |
| Other Income | 1,855 |
| Total Employee Compensation & Benefits | 76,882 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 169,930 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,079 |
| Cost of Funds | 7,171 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -198,566 |
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