Dec, 31, 2023 — COMMONWEALTH CREDIT UNION is a non-federally insured state credit union headquartered in BOURBONNAIS, IL with 2 branch locations and about $116.65 million in total assets. Opened 73 years ago in 1951, COMMONWEALTH CREDIT UNION has about 9,967 members and employs 23 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | COMMONWEALTH CREDIT UNION |
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Address: (Main Office) | 563 William R Latham Sr Dr BOURBONNAIS, IL 60914 |
Phone: | (815) 937-7447 |
Fax: | (815) 935-7738 |
Website: | https://www.cwcu.com |
Branches: | 2 branch locations |
Members: | 9,967 |
Credit Union Type: | Non-Federally Insured State Credit Union |
Charter Number: | 97095 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $116,645,649 |
CEO/Manager: | Raeann Love |
Chairperson: | Kenneth Tousignant |
ASSETS: | $ Amount |
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Cash & Equivalents | 10,351,379 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 24,741,484 |
Unsecured Loans | 1,728,495 |
Other Loans | 54,126,152 |
TOTAL LOANS | 80,596,131 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -246,705 |
Land And Building | 1,756,083 |
Other Fixed Assets | 194,292 |
NCUSIF Deposit | 0 |
All Other Assets | 0 |
TOTAL ASSETS | 116,645,649 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 85,571 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 427,344 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 22,375,519 |
Regular shares | 54,618,278 |
All Other Shares & Deposits | 26,340,820 |
TOTAL SHARES & DEPOSITS | 103,334,617 |
TOTAL LIABILITIES | 103,847,532 |
Regular Reserve | 0 |
Other Reserves | 352,088 |
Undivided Earnings | 12,446,029 |
TOTAL EQUITY | 12,798,117 |
TOTAL LIABILITIES, SHARES, & EQUITY | 116,645,649 |
INCOME & EXPENSE | |
Loan Income | 3,408,764 |
Investment Income | 839,584 |
Other Income | 427,152 |
Total Employee Compensation & Benefits | 1,553,194 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,651,887 |
Non-operating Income & (Expense) | -40,503 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 115,000 |
Cost of Funds | 692,537 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,089,547 |
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