Dec, 31, 2023 — COMMUNITY FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in PLYMOUTH, MI with 15 branch locations and about $1.59 billion in total assets. Opened 73 years ago in 1951, COMMUNITY FINANCIAL CREDIT UNION has about 83,566 members and employs 367 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 FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 500 S HARVEY ST PLYMOUTH, MI 48170-1759 |
| Phone: | (734) 453-1200 |
| Fax: | (734) 453-8913 |
| Website: | https://www.cfcu.org |
| Branches: | 15 branch locations |
| Members: | 83,566 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68631 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,594,945,276 |
| CEO/Manager: | Tansley Stearns |
| Chairperson: | Teresa Kuehn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,066,697 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 712,808 |
| Real Estate Loans | 859,786,169 |
| Unsecured Loans | 58,099,430 |
| Other Loans | 564,867,813 |
| TOTAL LOANS | 1,482,854,437 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,657,479 |
| Land And Building | 21,769,297 |
| Other Fixed Assets | 3,900,330 |
| NCUSIF Deposit | 12,218,218 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,594,945,276 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 218 |
| Notes & Interest Payable | 88,000,000 |
| Accounts Payable & Other Liabilities | 17,665,895 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 271,886,006 |
| Regular shares | 262,027,621 |
| All Other Shares & Deposits | 806,298,315 |
| TOTAL SHARES & DEPOSITS | 1,340,211,943 |
| TOTAL LIABILITIES | 1,445,878,056 |
| Regular Reserve | 0 |
| Other Reserves | 5,469,914 |
| Undivided Earnings | 143,597,306 |
| TOTAL EQUITY | 149,067,220 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,594,945,276 |
| INCOME & EXPENSE | |
| Loan Income | 80,423,096 |
| Investment Income | 2,211,204 |
| Other Income | 5,794,482 |
| Total Employee Compensation & Benefits | 37,537,084 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 24,729,154 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,141,403 |
| Cost of Funds | 30,605,968 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,970,179 |
| ↑ Back to Top | |