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CONCORD FEDERAL CREDIT UNION

Mar, 31, 2022 — CONCORD FEDERAL CREDIT UNION is a federal credit union headquartered in BROOKLYN, NY with 1 branch location and about $10.74 million in total assets. Opened 71 years ago in 1951, CONCORD FEDERAL CREDIT UNION has about 747 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:747
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:$10,741,006
CEO/Manager:Denise A Michaux
Chairperson:Ronnie L Brandon

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,529,253
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 2,648,979
 Other Loans 718,354
 TOTAL LOANS 3,367,333
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -309,642
 Land And Building 0
 Other Fixed Assets 23,114
 NCUSIF Deposit 87,096
 All Other Assets 0
  TOTAL ASSETS 10,741,006
LIABILITIES & CAPITAL:  
 Dividends Payable 21,640
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 247,142
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 8,696,123
 All Other Shares & Deposits 11,535
  TOTAL SHARES & DEPOSITS 8,707,658
  TOTAL LIABILITIES 8,976,440
 Regular Reserve 0
 Other Reserves 736,974
 Undivided Earnings 1,027,592
  TOTAL EQUITY 1,764,566
  TOTAL LIABILITIES, SHARES, & EQUITY 10,741,006
INCOME & EXPENSE  
 Loan Income 76,226
 Investment Income 36,347
 Other Income 2,525
 Total Employee Compensation & Benefits 48,731
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 48,786
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 21,648
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 80,024
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