Jun, 30, 2024 — COBALT FEDERAL CREDIT UNION is a federal credit union headquartered in PAPILLION, NE with 27 branch locations and about $1.25 billion in total assets. Opened 79 years ago in 1946, COBALT FEDERAL CREDIT UNION has about 115,722 members and employs 267 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: | 27 branch locations |
| Members: | 115,722 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,248,160,988 |
| CEO/Manager: | Robin Larsen |
| Chairperson: | Julia Cronin-Gilmore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 56,541,719 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 288,384,786 |
| Unsecured Loans | 27,860,449 |
| Other Loans | 700,131,542 |
| TOTAL LOANS | 1,054,157,725 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,324,250 |
| Land And Building | 37,990,864 |
| Other Fixed Assets | 8,966,127 |
| NCUSIF Deposit | 9,147,280 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,248,160,988 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 102,618 |
| Notes & Interest Payable | 107,793,565 |
| Accounts Payable & Other Liabilities | 14,138,620 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 286,183,430 |
| Regular shares | 310,359,692 |
| All Other Shares & Deposits | 425,635,455 |
| TOTAL SHARES & DEPOSITS | 1,022,178,577 |
| TOTAL LIABILITIES | 1,144,213,380 |
| Regular Reserve | 0 |
| Other Reserves | 19,227,513 |
| Undivided Earnings | 84,720,095 |
| TOTAL EQUITY | 103,947,608 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,248,160,988 |
| INCOME & EXPENSE | |
| Loan Income | 27,582,112 |
| Investment Income | 1,130,846 |
| Other Income | 6,740,085 |
| Total Employee Compensation & Benefits | 13,953,389 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,416,333 |
| Non-operating Income & (Expense) | 99,838 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -1,256,823 |
| Cost of Funds | 4,996,126 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,460,815 |
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