Jun, 30, 2024 — COLORAMO FEDERAL CREDIT UNION is a federal credit union headquartered in GRAND JUNCTION, CO with 3 branch locations and about $166.75 million in total assets. Opened 72 years ago in 1953, COLORAMO FEDERAL CREDIT UNION has about 11,975 members and employs 40 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: | 11,975 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $166,750,946 |
| CEO/Manager: | Anthony Restivo |
| Chairperson: | Keith A Larsen |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,016,695 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 54,133,884 |
| Unsecured Loans | 2,269,190 |
| Other Loans | 64,311,694 |
| TOTAL LOANS | 120,724,787 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -350,819 |
| Land And Building | 6,489,175 |
| Other Fixed Assets | 757,958 |
| NCUSIF Deposit | 1,344,050 |
| All Other Assets | 100,954 |
| TOTAL ASSETS | 166,750,946 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 659,682 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 30,253,727 |
| Regular shares | 49,040,839 |
| All Other Shares & Deposits | 72,171,522 |
| TOTAL SHARES & DEPOSITS | 151,466,088 |
| TOTAL LIABILITIES | 152,125,770 |
| Regular Reserve | 0 |
| Other Reserves | 1,224,074 |
| Undivided Earnings | 13,401,102 |
| TOTAL EQUITY | 14,625,176 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 166,750,946 |
| INCOME & EXPENSE | |
| Loan Income | 3,803,171 |
| Investment Income | 202,256 |
| Other Income | 737,206 |
| Total Employee Compensation & Benefits | 2,325,706 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,154,843 |
| Non-operating Income & (Expense) | -47,571 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 295,718 |
| Cost of Funds | 253,178 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 398,443 |
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