Dec, 31, 2023 — COLORAMO FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND JUNCTION, CO with 3 branch locations and about $174.45 million in total assets. Opened 71 years ago in 1953, COLORAMO FEDERAL CREDIT UNION has about 12,299 members and employs 45 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COLORAMO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 516 28 Rd GRAND JUNCTION, CO 81501 |
| Phone: | (970) 243-7280 |
| Fax: | (970) 242-6506 |
| Website: | https://www.coloramo.org |
| Branches: | 3 branch locations |
| Members: | 12,299 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8725 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $174,450,698 |
| CEO/Manager: | Anthony Restivo |
| Chairperson: | Keith A Larsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,623,497 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 63,117,046 |
| Unsecured Loans | 2,863,137 |
| Other Loans | 67,829,735 |
| TOTAL LOANS | 133,818,661 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -667,534 |
| Land And Building | 11,025,607 |
| Other Fixed Assets | 654,675 |
| NCUSIF Deposit | 1,523,732 |
| All Other Assets | 105,299 |
| TOTAL ASSETS | 174,450,698 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,332,052 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 27,884,401 |
| Regular shares | 43,208,707 |
| All Other Shares & Deposits | 86,112,828 |
| TOTAL SHARES & DEPOSITS | 157,205,936 |
| TOTAL LIABILITIES | 158,537,988 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 15,912,710 |
| TOTAL EQUITY | 15,912,710 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 174,450,698 |
| INCOME & EXPENSE | |
| Loan Income | 6,892,436 |
| Investment Income | 589,573 |
| Other Income | 1,190,486 |
| Total Employee Compensation & Benefits | 2,981,191 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,993,068 |
| Non-operating Income & (Expense) | -78,326 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 609,604 |
| Cost of Funds | 2,063,621 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,077,197 |
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