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CONCORD FEDERAL CREDIT UNION

Jun, 30, 2023 — CONCORD FEDERAL CREDIT UNION is a federal credit union headquartered in BROOKLYN, NY with 1 branch location and about $10.86 million in total assets. Opened 72 years ago in 1951, CONCORD FEDERAL CREDIT UNION has about 717 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CONCORD FEDERAL CREDIT UNION
Address:
(Main Office)
833 Marcy Ave
BROOKLYN, NY 11216
Phone:(718) 622-0623
Fax:(718) 622-5311
Website:https://concordfcu.org
Branches:1 branch locations
Members:717
Credit Union Type:Federal Credit Union
Charter Number:7504
Membership Type:Multiple common bond - Primarily faith based
Corporate Credit Union:No
Year Opened:1951
Last Audited:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$10,860,210
CEO/Manager:Denise A Michaux
Chairperson:Ronnie L Brandon

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,381,870
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 2,513,688
 Other Loans 469,070
 TOTAL LOANS 2,982,758
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -303,454
 Land And Building 0
 Other Fixed Assets 17,396
 NCUSIF Deposit 86,841
 All Other Assets 0
  TOTAL ASSETS 10,860,210
LIABILITIES & CAPITAL:  
 Dividends Payable 22,612
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 167,828
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 9,003,376
 All Other Shares & Deposits 22,709
  TOTAL SHARES & DEPOSITS 9,026,085
  TOTAL LIABILITIES 9,216,525
 Regular Reserve 0
 Other Reserves 736,974
 Undivided Earnings 906,711
  TOTAL EQUITY 1,643,685
  TOTAL LIABILITIES, SHARES, & EQUITY 10,860,210
INCOME & EXPENSE  
 Loan Income 166,950
 Investment Income 117,879
 Other Income 6,198
 Total Employee Compensation & Benefits 108,097
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 181,485
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 238,512
 Cost of Funds 66,284
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -40,858
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