Dec, 31, 2023 — CHRISTIAN FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in STERLING HEIGHTS, MI with 10 branch locations and about $847.89 million in total assets. Opened 57 years ago in 1967, CHRISTIAN FINANCIAL CREDIT UNION has about 56,555 members and employs 171 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CHRISTIAN FINANCIAL CREDIT UNION |
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Address: (Main Office) | 35100 Van Dyke Ave STERLING HEIGHTS, MI 48312 |
Phone: | (586) 772-6330 |
Fax: | |
Website: | https://www.christianfinancialcu.or |
Branches: | 10 branch locations |
Members: | 56,555 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63805 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1967 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $847,893,640 |
CEO/Manager: | Patricia L Campbell |
Chairperson: | James Banaszak |
ASSETS: | $ Amount |
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Cash & Equivalents | 47,993,849 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 336,878,328 |
Unsecured Loans | 38,359,823 |
Other Loans | 213,826,383 |
TOTAL LOANS | 589,666,955 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,647,586 |
Land And Building | 24,940,257 |
Other Fixed Assets | 2,747,588 |
NCUSIF Deposit | 6,738,436 |
All Other Assets | 32,276 |
TOTAL ASSETS | 847,893,640 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 40,000,000 |
Accounts Payable & Other Liabilities | 4,722,307 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 121,028,523 |
Regular shares | 256,965,657 |
All Other Shares & Deposits | 341,548,435 |
TOTAL SHARES & DEPOSITS | 719,542,614 |
TOTAL LIABILITIES | 764,264,921 |
Regular Reserve | 0 |
Other Reserves | 19,573,614 |
Undivided Earnings | 64,055,105 |
TOTAL EQUITY | 83,628,719 |
TOTAL LIABILITIES, SHARES, & EQUITY | 847,893,640 |
INCOME & EXPENSE | |
Loan Income | 25,825,474 |
Investment Income | 3,098,717 |
Other Income | 4,958,042 |
Total Employee Compensation & Benefits | 14,781,307 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 14,701,628 |
Non-operating Income & (Expense) | 6,259 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 575,000 |
Cost of Funds | 6,876,471 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,582,023 |
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