Dec, 31, 2023 — COMMONWEALTH CREDIT UNION is a federally insured state chartered credit union headquartered in FRANKFORT, KY with 17 branch locations and about $2.22 billion in total assets. Opened 73 years ago in 1951, COMMONWEALTH CREDIT UNION has about 123,669 members and employs 360 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 |
|---|---|
| Address: (Main Office) | 417 High St FRANKFORT, KY 40601 |
| Phone: | (502) 564-4775 |
| Fax: | |
| Website: | https://www.ccuky.org |
| Branches: | 17 branch locations |
| Members: | 123,669 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61437 |
|---|---|
| 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: | $2,215,468,444 |
| CEO/Manager: | Karen Harbin |
| Chairperson: | Randy Fawns |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 184,223,027 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 807,818,642 |
| Unsecured Loans | 267,563,609 |
| Other Loans | 558,757,717 |
| TOTAL LOANS | 1,634,139,968 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,532,428 |
| Land And Building | 38,565,633 |
| Other Fixed Assets | 12,165,008 |
| NCUSIF Deposit | 17,380,828 |
| All Other Assets | 301,863 |
| TOTAL ASSETS | 2,215,468,444 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 60,000,000 |
| Accounts Payable & Other Liabilities | 45,698,990 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 81,765,748 |
| Regular shares | 1,012,121,123 |
| All Other Shares & Deposits | 806,807,764 |
| TOTAL SHARES & DEPOSITS | 1,900,694,635 |
| TOTAL LIABILITIES | 2,006,618,654 |
| Regular Reserve | 0 |
| Other Reserves | -40,457,373 |
| Undivided Earnings | 249,307,163 |
| TOTAL EQUITY | 208,849,790 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,215,468,444 |
| INCOME & EXPENSE | |
| Loan Income | 82,017,844 |
| Investment Income | 13,310,507 |
| Other Income | 10,717,575 |
| Total Employee Compensation & Benefits | 35,912,220 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 37,826,080 |
| Non-operating Income & (Expense) | -926,022 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,483,459 |
| Cost of Funds | 27,707,438 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 17,849,195 |
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