2011: A Record Year in Review

2011 was an outstanding year for Community Financial thanks to member loyalty and record growth. We saw a record near 10% increase in membership and our highest all-time member satisfaction rating.

Among credit union members responding to a national survey, Community Financial ranked in the 97th percentile for members saying they were “very satisfied,” and over 96% of our members indicated they are either “satisfied” or “very satisfied,” the highest rankings available.

Those records, led to improved financial results from 2010. All areas of credit union operations performed well in 2011. Net income for the year was $10,459,285 or 2.24% of assets, and while Community Financial continued to assist those dealing with financial hardships, loan losses decreased and the ratio of charged off loans to average balances dropped from 1.56% to .67%.

We expect to achieve a positive net income of $7 million in 2012 thanks to decreased loan losses and benefits to our bottom line from operating in the current interest rate environment.

Total assets grew to $478 million in 2011. Member deposits at year-end were $413 million. Total loans and leases increased 5.11% to $439 million. The majority of the increase was in consumer loans with significant growth in the auto portfolio. Our members took advantage of lower mortgage rates and we originated over $66 million in first mortgage loans.

Community Financial’s equity increased to $53.6 million from $43 million, resulting in a net worth ratio of 11.22%. 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.

By offering the best products and outstanding service, Community Financial members enjoy a banking experience that is easy and rewarding. We thank all of our member/owners for trusting us to help you reach your financial goals.

Statement of Condition December 2011 December 2010
Assets Net Loans to Members
Cash
Investments
Other Assets
Total Assets
435,111,023
2,839,833
21,923,786
18,000,500
477,875,142
410,893,532
10,064,881
16,670,184
19,377,089
457,005,686
Liabilities Shares
Certificates
Other Liabilities
Reserves
Undivided
Total Liabilities & Equity
307,025,431
106,295,244
10,959,273
6,846,126
46,749,069
477,875,142
268,528,177
120,581,153
24,770,379
6,846,126
36,279,851
457,005,686
Statement of Income and Expenses
Income Income from Loans
Income From Investments
Other Income
Total Income
23,345,900
262,646
6,656,918
30,265,464
24,036,805
334,627
6,790,414
31,161,846
Expenses Salaries/Benefits
Office Occupancy
Office Operations
Marketing
Outside Services
Dividends
Interest on Borrowed Funds
Provision for Loan Losses
Other Expenses
Total Expenses
Net Income
9,514,182
904,624
2,006,840
937,205
404,176
2,632,232
209,837
67,362
3,129,721
19,806,179
10,459,285
8,772,213
876,179
1,837,821
722,547
340,508
3,605,450
316,308
6,437,188
3,505,546
26,413,760
4,748,086

Some of the groups we’ve supported on behalf of our members:

American Red Cross
Amerman Elementary Solar Panels
Atlanta Community Schools
Atlanta Community Schools
Anti-Bullying Program
Beaver Lake Park
Bridgepoint Kids Against Hunge
Camp Casey
Canton Community Foundation
Canton Lions Club
Canton Township Master
Gardener Program
Canton Young Marines
Central Middle School
Christmas In Action
Community Foundation of Northeast Michigan
Community Literary Council
Community Network Services
Courageous Kids
Crossroads Industries
Detroit Area Diaper bank
Discovery Middle School
District Health Department #4
EEF - Plymouth-Canton Community Schools
First Call For Help
First Step
Friends for Life
Friends of the Penn
Friendship Shelter
Gallmore Elementary
Gaylord Area Schools
Gaylord High School Key Club
Habitat for Humanity
Hillman Area Schools
Hillman Tiger Paw Park
Hillman Varsity Football Team
Homeward Bound
Johannesburg-Lewiston Area Schools
Johannesburg-Lewiston Band
Lamplighters of Montmorency
Lewiston Community Sharing
Love INC
Johannesburg-Lewiston Area Schools
Johannesburg-Lewiston Band
Lamplighters of Montmorency
Lewiston Community Sharing
Love INC
Middle School Science Program
Miracle League of Plymouth
New Hope Center for Grief Support
Next Generation American
Northville Civic Concern
Northville Community Foundation
Northville Educational Foundation
Northville High School Drama Club
Northville Youth Assistance
Novi Educational Foundation
Novi Emergency Food Pantry
Novi School District
Novi Youth Assistance
OLGC Phys Ed Department
Open Door Food Ministry
Open Door Ministry
Otsego County Community Foundation
Otsego County Council on Aging
Otsego County Food Pantry
P-CCS No Athlete Left Behind
Pioneer Middle School - Classroom
Plymouth Canton Civitans Club
Plymouth Community Band
Plymouth Community Council on Aging
Plymouth Community Foundation
Plymouth Fife and Drum
Plymouth Historical Museum
Plymouth Oratorio Society
Plymouth Whalers
Pride and Honor Flight of Michigan
Region 9 Area on Aging
Salem Rocks Football
Salvation Army
Southeast Michigan Dyslexia
Special Olympics
St. Vincent DePaul Society
Student Nutrition Action Council
THAW
The Baby Basket
United Way
VFW Ladies Auxilliary
Village Theater at Cherry Hill
Waggin’ Tails Dog Rescue
Youth Leadership Plymouth