Dec, 31, 2023 — CHIEF FINANCIAL FEDERAL CREDIT UNION is a federal credit union headquartered in ROCHESTER HILLS, MI with 4 branch locations and about $212.43 million in total assets. Opened 83 years ago in 1941, CHIEF FINANCIAL FEDERAL CREDIT UNION has about 21,465 members and employs 46 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CHIEF FINANCIAL FEDERAL CREDIT UNION |
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Address: (Main Office) | 200 Diversion St Ste 200 ROCHESTER HILLS, MI 48307-2207 |
Phone: | (800) 844-5440 |
Fax: | |
Website: | https://www.chiefonline.com |
Branches: | 4 branch locations |
Members: | 21,465 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4271 |
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Membership Type: | Multiple common bond - Primarily transportation equipment |
Corporate Credit Union: | No |
Year Opened: | 1941 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $212,427,753 |
CEO/Manager: | Tom Dluzen |
Chairperson: | Melody Sugden |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,352,122 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 21,683,916 |
Unsecured Loans | 3,060,812 |
Other Loans | 112,589,688 |
TOTAL LOANS | 137,376,186 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,668,987 |
Land And Building | 13,610,571 |
Other Fixed Assets | 406,546 |
NCUSIF Deposit | 1,806,150 |
All Other Assets | 0 |
TOTAL ASSETS | 212,427,753 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 152,373 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,291,398 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 21,158,888 |
Regular shares | 54,120,899 |
All Other Shares & Deposits | 113,042,466 |
TOTAL SHARES & DEPOSITS | 188,322,253 |
TOTAL LIABILITIES | 189,766,024 |
Regular Reserve | 0 |
Other Reserves | 4,453,477 |
Undivided Earnings | 18,208,252 |
TOTAL EQUITY | 22,661,729 |
TOTAL LIABILITIES, SHARES, & EQUITY | 212,427,753 |
INCOME & EXPENSE | |
Loan Income | 6,738,073 |
Investment Income | 2,145,280 |
Other Income | 3,046,511 |
Total Employee Compensation & Benefits | 3,994,918 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,460,526 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 459,121 |
Cost of Funds | 3,491,597 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -1,290,676 |
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