Dec, 31, 2023 — CONCORD FEDERAL CREDIT UNION is a federal credit union headquartered in BROOKLYN, NY with 1 branch location and about $8.58 million in total assets. Opened 73 years ago in 1951, CONCORD FEDERAL CREDIT UNION has about 649 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: | 649 |
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, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $8,584,889 |
CEO/Manager: | Denise A Michaux |
Chairperson: | Deborah Boatright |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 1,123,590 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 865,460 |
Other Loans | 230,035 |
TOTAL LOANS | 1,095,495 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -107,276 |
Land And Building | 0 |
Other Fixed Assets | 4,731 |
NCUSIF Deposit | 88,055 |
All Other Assets | 0 |
TOTAL ASSETS | 8,584,889 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 10,200 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 24,501 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 7,996,011 |
All Other Shares & Deposits | 3,114 |
TOTAL SHARES & DEPOSITS | 7,999,125 |
TOTAL LIABILITIES | 8,033,826 |
Regular Reserve | 0 |
Other Reserves | 1,094,359 |
Undivided Earnings | -543,296 |
TOTAL EQUITY | 551,063 |
TOTAL LIABILITIES, SHARES, & EQUITY | 8,584,889 |
INCOME & EXPENSE | |
Loan Income | 93,962 |
Investment Income | 197,313 |
Other Income | 6,683 |
Total Employee Compensation & Benefits | 186,097 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 266,142 |
Non-operating Income & (Expense) | -1,473,915 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,293 |
Cost of Funds | 65,066 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,129,253 |
↑ Back to Top |