Overview / Commentary
Community Promise is headquartered in Kalamazoo and is the 212th largest credit union in the state of Michigan. It is also the 5,023rd largest credit union in the nation. It was established in 2012 and as of March of 2020, it had grown to 3 employees and 641 members at 3 locations. Community Promise has a C health rating.
Field of Membership Restrictions
Membership in Community Promise Federal Credit Union is open to those who live, work, volunteer, attend school or worship in Kalamazoo, Michigan.
See current membership details
Health
C
Data as of Q1 2020
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Community Promise has a very low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24848 |
| Year Chartered | 2012 |
| Employees | 3 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 29.55% |
| Return on Equity - YTD | 98.26% |
| Annual Interest Income | $18.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2020vs Q1 2019 | $1.2MM$1.3MM |
| Loans | Q1 2020vs Q1 2019 | $620.00K$627.00K |
| Deposits | Q1 2020vs Q1 2019 | $723.00K$811.00K |
| Equity Capital | Q1 2020vs Q1 2019 | $334.00K$329.00K |
| Secondary Capital | Q1 2020vs Q1 2019 | $100.00K |
| Loan Loss Allowance | Q1 2020vs Q1 2019 | $61.00K$56.00K |
| Unbacked Noncurrent Loans | Q1 2020vs Q1 2019 | $91.00K$53.00K |
| Real Estate Owned | Q1 2020vs Q1 2019 | $0$0 |