Dec, 31, 2023 — CIT-CO FEDERAL CREDIT UNION is a federal credit union headquartered in SHERIDAN, WY with 1 branch location and about $22.72 million in total assets. Opened 70 years ago in 1954, CIT-CO FEDERAL CREDIT UNION has about 2,143 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CIT-CO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 502 N Main St SHERIDAN, WY 82801 |
| Phone: | (307) 674-7449 |
| Fax: | (307) 674-5375 |
| Website: | https://www.citcofcu.com |
| Branches: | 1 branch locations |
| Members: | 2,143 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9644 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Aug 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $22,719,884 |
| CEO/Manager: | Tracy Thorpe |
| Chairperson: | Marilyn Pettit |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,174,737 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 447,575 |
| Unsecured Loans | 817,136 |
| Other Loans | 19,497,854 |
| TOTAL LOANS | 20,762,565 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -127,324 |
| Land And Building | 504,084 |
| Other Fixed Assets | 88,544 |
| NCUSIF Deposit | 190,461 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,719,884 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 137,362 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,337,503 |
| Regular shares | 9,751,539 |
| All Other Shares & Deposits | 6,394,916 |
| TOTAL SHARES & DEPOSITS | 20,483,958 |
| TOTAL LIABILITIES | 20,621,320 |
| Regular Reserve | 0 |
| Other Reserves | 199,678 |
| Undivided Earnings | 1,898,886 |
| TOTAL EQUITY | 2,098,564 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,719,884 |
| INCOME & EXPENSE | |
| Loan Income | 911,185 |
| Investment Income | 2,512 |
| Other Income | 128,308 |
| Total Employee Compensation & Benefits | 299,644 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 272,548 |
| Non-operating Income & (Expense) | 5,102 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,000 |
| Cost of Funds | 119,565 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 319,851 |
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