Dec, 31, 2023 — COBALT FEDERAL CREDIT UNION is a federal credit union headquartered in PAPILLION, NE with 26 branch locations and about $1.28 billion in total assets. Opened 78 years ago in 1946, COBALT FEDERAL CREDIT UNION has about 116,076 members and employs 258 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COBALT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 7148 Towne Center Pkwy PAPILLION, NE 68046 |
| Phone: | (402) 292-8000 |
| Fax: | (402) 829-0149 |
| Website: | https://www.cobaltcu.com |
| Branches: | 26 branch locations |
| Members: | 116,076 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24917 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,279,483,395 |
| CEO/Manager: | Robin Larsen |
| Chairperson: | Julia Cronin-Gilmore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 67,314,387 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 4,726,305 |
| Real Estate Loans | 419,543,239 |
| Unsecured Loans | 32,713,981 |
| Other Loans | 607,866,205 |
| TOTAL LOANS | 1,064,372,957 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,888,331 |
| Land And Building | 36,485,178 |
| Other Fixed Assets | 8,423,727 |
| NCUSIF Deposit | 10,477,918 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,279,483,395 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 27,047 |
| Notes & Interest Payable | 74,854,510 |
| Accounts Payable & Other Liabilities | 18,603,522 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 244,104,704 |
| Regular shares | 236,532,688 |
| All Other Shares & Deposits | 595,756,078 |
| TOTAL SHARES & DEPOSITS | 1,076,393,471 |
| TOTAL LIABILITIES | 1,169,878,550 |
| Regular Reserve | 0 |
| Other Reserves | -7,812,451 |
| Undivided Earnings | 117,417,296 |
| TOTAL EQUITY | 109,604,845 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,279,483,395 |
| INCOME & EXPENSE | |
| Loan Income | 51,245,715 |
| Investment Income | 3,505,852 |
| Other Income | 9,162,948 |
| Total Employee Compensation & Benefits | 20,628,870 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 21,450,117 |
| Non-operating Income & (Expense) | -216,014 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,438,383 |
| Cost of Funds | 21,780,072 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,632,095 |
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