COMMONWEALTH Financial Reports
Quarter Ended: 2024/12/31
Data Updated on: 2024/10/29
COMMONWEALTH is a NFICU, and supervised by the National Credit Union Administration (NCUA) located in Bourbonnais, IL. Established on 1951, the credit union is regulated by the NCUA and has 2 branches.
The bank has 5 employees and holds 118,379,817 in total assets. With a focus on Non-Federal Credit Union customers, the bank has been serving its customers since 1951.
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COMMONWEALTH Institution Profile
| Type of Membership | Non-Federal Credit Union |
| Number of Full-Time Employees | 18 |
| Date Established | 1951 |
| Number of Part-Time Employees | 5 |
| Type of Credit Union | NFICU |
| City | Bourbonnais |
| Number of Current Members | 9900 |
| ZIP Code | 60914-0380 |
| State | IL |
| Street Address | PO Box 380 |
| Official Website | http://www.cwcu.com |
| Peer Group Category | 5 – $100,000,000 to less than $500,000,000 |
| President’s Name | Kenneth Tousignant |
| CEO Name | Raeann Love |
| Join Number | 15092 |
| Net Worth Classification | Well Capitalized |
| Institution RSSDID | 497299 |
| Number Of Branches | 2 |
| Bond Provider | CUMIS |
Institution Profile Overview
The organization operates under the Membership Type of “Non-Federal Credit Union” and was Chartered on “1951”. It is classified as a NFICU, with Number of Members totaling “9900”. The institution is based in State: “IL”, within the City: “Bourbonnais”, and can be found at Street: “PO Box 380”, ZIP Code: “60914-0380”.
The institution employs “18” Full-time Employees and “5” Part-time Employees, ensuring smooth operations. It belongs to the Peer Group “5 – $100,000,000 to less than $500,000,000”, reflecting its size and scope of activities. The Net Worth Classification places it in the “Well Capitalized” category.
Leadership is guided by PRESIDENT: “Kenneth Tousignant” and CEO: “Raeann Love”, ensuring strategic direction and oversight. Additional identifiers include a Join Number of “15092” and RSSD Number of “497299”. The organization’s online presence is accessible via its Website: “http://www.cwcu.com”.
COMMONWEALTH Financials
(USD, in thousands)
| Total Assets | $118,380 |
| Total NonInterest Income | $713 |
| Total Liabilities | $104,174 |
| Total Interest Expense | $1,129 |
| Total Shares and Deposits | $103,704 |
| Total NonInterest Expense | $3,239 |
| Total Equity | $14,523 |
| Total Net Worth | $14,523 |
| Total Interest Income | $5,090 |
| Net Worth Ratio | 12.27% |
| Total amount of Loans and Leases | $78,674 |
| Total number of Loans and Leases | 3,260 |
Financial Performance Overview
Gain a comprehensive perspective on COMMONWEALTH’s financial landscape through our “Financials” table. The bank boasts total assets of $118,379,817k, showcasing its substantial scale and influential market presence. A nuanced breakdown reveals insights into the credit union’s financial structure and stability, with total liabilities standing at $104,174,087k and total equity at $14,523,151k.
Delve into key operational metrics, including total shares and deposits of $103,703,617k, total loans and leases at $78,674,130k, and a meticulous analysis of income and expense components. This detailed financial overview is designed to enhance your understanding of COMMONWEALTH’s performance and competitive positioning within the financial industry.
COMMONWEALTH Additional Financial Information
| Net Interest Income | 3,960,192.00 |
| Loans Held for Sale | 0.00 |
| Net Interest Margin (as a % of Average Assets) | 3.37 |
| Other Non‐Performing Assets (as % of Total Assets) | 0.00 |
| All Other Assets (Total) | 2,337,102.00 |
| Total Cash on Deposit (Amounts Deposited in Financial Institutions) | 19,515,789.00 |
| Net Worth Growth | 9.91 |
| Total INVESTMENT SECURITIES | 0.00 |
| Share Growth | 0.36 |
| TOTAL OTHER INVESTMENTS | 205,087.00 |
| Loan Growth | -2.38 |
| Total Foreclosed and Repossessed Assets | 20,000.00 |
| Asset Growth | 1.49 |
| Total Credit Loss Expense | 125,000.00 |
| Investment Growth | 15.16 |
| NET INCOME (LOSS) | 1,309,206.00 |
| Membership Growth | -2.01 |
| Loans‐to‐Assets Ratio | 66.46 |
| Return on Average Assets (ROAA) | 1.11 |
| Cash & Short‐Term Investments (as % of Assets) | 24.19 |
| Net Income (Excluding Extraordinary Items) / Average Assets | 1.18 |
| Risk‐Based Capital Ratio | N/A |
| Non‐Interest Expense (as % of Average Assets) | 2.76 |
| GAAP Equity (as % of Total Assets) | 12.00 |
| Provision for Loan or Credit Losses (as % of Average Assets) | 0.11 |
| Loan Loss Ratio | 0.20 |
| Total Gain (Loss) on Investments | 0.00 |
| Efficiency Ratio | 55.04 |
| Regulatory Net Worth Ratio | 1,227.00 |
| Adjusted Net Worth Ratio | 12.43 |
Insights into Financial Metrics
Enhance your understanding of COMMONWEALTH‘s financial standing through our Additional Financial Information table. Explore key metrics such as Total Loans and Leases: $78,674,130k and Net Interest Income: $0k to gain valuable insights into the credit union’s core operations and revenue streams.
Delve into the intricacies of Loan Loss Ratio 0.1968 to evaluate the credit union’s asset quality and risk mitigation efforts. Examine the composition of income through Total Noninterest Income: $713,179k and evaluate operational efficiency using metrics like Efficiency Ratio: 55.0365. This nuanced financial overview empowers a comprehensive analysis of COMMONWEALTH‘s strategic financial position and performance in the industry.
Frequently Asked Questions (FAQs)
What is the asset size of COMMONWEALTH?
The asset size of COMMONWEALTH is approximately $118,379,817k, reflecting the credit union’s scale and market presence.
What type of bond does COMMONWEALTH have?
COMMONWEALTH has a bond provided by CUMIS, which ensures certain financial securities to its members.
How many members does COMMONWEALTH currently have?
The credit union currently serves 9900 members, indicating its reach and community impact.
What is the total number of employees at COMMONWEALTH?
There are 23 employees at COMMONWEALTH, including both full-time and part-time staff, supporting its operations and member services.
Where is COMMONWEALTH located and how many branches does it have?
COMMONWEALTH is located in Bourbonnais, IL, and operates 2 branches.
What is the net worth ratio of COMMONWEALTH?
The net worth ratio, a key indicator of financial strength, for COMMONWEALTH is 1227%.
What is the total value of loans and deposits at COMMONWEALTH?
The credit union holds $78,674,130k in loans and $103,703,617k in deposits, reflecting its lending and saving activities.
What does COMMONWEALTH’s investment portfolio look like?
The credit union’s investment portfolio includes total investment securities and other investments, showcasing strategic asset allocation.
Who are the leaders of COMMONWEALTH?
Leadership at COMMONWEALTH is provided by President Kenneth Tousignant and CEO Raeann Love, guiding strategic decisions and operations.