2017: A Record Year in Review

Community Financial Credit Union continued to see a strong increase in membership and steady increase in member satisfaction ratings.

These factors helped lead to very solid financial results, with all areas of credit union operations performing well in 2017. Net income for the year was $8.92 million or a 1.09% return on assets.

Total assets grew to $857 million in 2017. Member deposits at year-end were $655 million. Total loans increased 11.34% to $794 million. Auto loans grew by more than 18% while commercial loans grew by over 26%. Our members continued to take advantage of lower mortgage rates and we originated over $115 million in first mortgage loans.

Community Financial’s equity increased to $104.2 million from $95.3 million, resulting in a net worth ratio of 12.17% at year-end. This increase in equity is the result of positive net income for the year. With this net worth ratio, Community Financial is considered well capitalized by our regulator, National Credit Union Administration.

We thank all of our member/owners for trusting us to help you reach your financial goals.

Statement of Condition December 2017 December 2016
Assets Net Loans to Members
Cash
Investments
Other Assets
Total Assets
790,727,361
4,136,450
39,967,556
21,992,637
856,824,004
710,125,080
4,269,260
32,371,838
19,297,951
766,064,129
Liabilities Shares
Certificates
Other Liabilities
Reserves
Undivided
Total Liabilities & Equity
513,213,225
141,980,601
97,395,869
6,846,126
97,388,183
856,824,004
481,741,359
127,025,269
61,947,392
6,846,126
88,503,984
766,064,129
Statement of Income and Expenses
Income Income from Loans
Income from Investments
Other Income
Total Income
32,193,788
379,683
10,742,639
43,316,110
28,460,193
304,797
10,391,710
39,156,700
Expenses Salaries/Benefits
Office Occupancy
Office Operations
Educational/Advertising
Outside Services
Dividends
Interest on Borrowed Funds
Provision for Loan Losses
Other Expenses
Total Expenses
Net Income
18,608,483
1,392,481
3,165,703
1,560,612
881,638
2,287,585
679,074
2,588,973
3,231,775
34,396,324
8,919,785
16,842,987
1,322,891
3,066,822
1,544,002
740,634
1,957,084
463,899
2,574,449
3,019,714
31,532,482
7,624,218
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