Overview / Commentary
Community Promise is headquartered in Kalamazoo and is the 214th largest credit union in the state of Michigan. It is also the 5,087th largest credit union in the nation. It was established in 2012 and as of December of 2019, it had grown to 4 employees and 643 members at 2 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 Q4 2019
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, and a negative return on assets.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 24848 |
| Year Chartered | 2012 |
| Employees | 4 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -3.91% |
| Return on Equity - YTD | -17.13% |
| Annual Interest Income | $76.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $1.0MM$1.2MM |
| Loans | Q4 2019vs Q4 2018 | $631.00K$702.00K |
| Deposits | Q4 2019vs Q4 2018 | $652.00K$742.00K |
| Equity Capital | Q4 2019vs Q4 2018 | $251.00K$294.00K |
| Secondary Capital | Q4 2019vs Q4 2018 | $100.00K |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $55.00K$42.00K |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $56.00K$35.00K |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |