Dec, 31, 2023 — CATHOLIC VANTAGE FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in LIVONIA, MI with 2 branch locations and about $122.39 million in total assets. Opened 71 years ago in 1953, CATHOLIC VANTAGE FINANCIAL CREDIT UNION has about 7,691 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CATHOLIC VANTAGE FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 36111 5 MILE RD LIVONIA, MI 48154-1963 |
| Phone: | (734) 432-0212 |
| Fax: | (734) 432-5018 |
| Website: | https://www.mycvf.org |
| Branches: | 2 branch locations |
| Members: | 7,691 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68709 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $122,391,896 |
| CEO/Manager: | Peter M Bagazinski |
| Chairperson: | KEVIN G PROST |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,671,650 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 221,000 |
| Real Estate Loans | 43,118,598 |
| Unsecured Loans | 2,916,810 |
| Other Loans | 35,665,394 |
| TOTAL LOANS | 81,784,955 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -493,935 |
| Land And Building | 3,067,444 |
| Other Fixed Assets | 240,168 |
| NCUSIF Deposit | 1,159,489 |
| All Other Assets | 0 |
| TOTAL ASSETS | 122,391,896 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 780,074 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,569,029 |
| Regular shares | 57,381,905 |
| All Other Shares & Deposits | 26,642,433 |
| TOTAL SHARES & DEPOSITS | 112,593,367 |
| TOTAL LIABILITIES | 113,373,441 |
| Regular Reserve | 0 |
| Other Reserves | -1,402,104 |
| Undivided Earnings | 10,420,559 |
| TOTAL EQUITY | 9,018,455 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 122,391,896 |
| INCOME & EXPENSE | |
| Loan Income | 3,900,495 |
| Investment Income | 761,964 |
| Other Income | 441,442 |
| Total Employee Compensation & Benefits | 2,067,186 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,493,185 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,477 |
| Cost of Funds | 341,642 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 762,734 |
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