Dec, 31, 2023 — COMMUNITY FOCUS FEDERAL CREDIT UNION is a federal credit union headquartered in BROWNSTOWN, MI with 2 branch locations and about $68.63 million in total assets. Opened 64 years ago in 1960, COMMUNITY FOCUS FEDERAL CREDIT UNION has about 4,815 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COMMUNITY FOCUS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 18925 Telegraph Rd BROWNSTOWN, MI 48174-9546 |
| Phone: | (734) 281-3900 |
| Fax: | (734) 281-2364 |
| Website: | https://www.communityfocusfcu.org |
| Branches: | 2 branch locations |
| Members: | 4,815 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14098 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Jul 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $68,634,758 |
| CEO/Manager: | Andrew Gregoire |
| Chairperson: | Harry Roesch |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,809,996 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 127,187 |
| Real Estate Loans | 6,219,885 |
| Unsecured Loans | 3,925,302 |
| Other Loans | 23,489,449 |
| TOTAL LOANS | 33,634,636 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -674,898 |
| Land And Building | 1,955,731 |
| Other Fixed Assets | 83,002 |
| NCUSIF Deposit | 564,805 |
| All Other Assets | 0 |
| TOTAL ASSETS | 68,634,758 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 348,528 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 706,651 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,422,619 |
| Regular shares | 24,475,931 |
| All Other Shares & Deposits | 22,967,034 |
| TOTAL SHARES & DEPOSITS | 57,865,584 |
| TOTAL LIABILITIES | 58,924,666 |
| Regular Reserve | 0 |
| Other Reserves | -312,660 |
| Undivided Earnings | 10,022,752 |
| TOTAL EQUITY | 9,710,092 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 68,634,758 |
| INCOME & EXPENSE | |
| Loan Income | 1,845,736 |
| Investment Income | 542,520 |
| Other Income | 446,893 |
| Total Employee Compensation & Benefits | 659,345 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,810,181 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 333,283 |
| Cost of Funds | 533,631 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 247,142 |
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