2012: A Record Year in Review

Thanks to member loyalty and record growth, 2012 was another outstanding year for Community Financial. We continued to see a strong increase in membership and once again achieved our highest all-time member satisfaction rating.

These factors led to solid financial results, with all areas of credit union operations performing well in 2012. Net income for the year was $9,085,877 or a 1.84% return on assets. We expect to achieve a positive net income of $7 million in 2013 due in part to the benefits of operating in the current interest rate environment and stabilized loan losses.

Total assets grew to $511 million in 2012. Member deposits at year-end were $439 million. Total loans increased 9.11% to $479 million. The majority of the increase was in consumer loans with significant growth in the auto portfolio. Our members continued to take advantage of lower mortgage rates and we originated over $137 million in first mortgage loans.

Community Financial’s equity increased to $62.6 million from $53.6 million, resulting in a net worth ratio of 12.25%. 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 2012 December 2011
Assets Net Loans to Members
Cash
Investments
Other Assets
Total Assets
475,052,857
3,117,112
14,546,359
18,809,879
511,526,206
435,111,023
2,839,833
121,923,786
18,000,500
477,875,142
Liabilities Shares
Certificates
Other Liabilities
Reserves
Undivided
Total Liabilities & Equity
341,011,249
97,729,962
10,101,375
6,846,126
55,837,494
511,526,206
3307,025,431
106,295,244
10,959,273
6,846,126
46,749,069
477,875,142
Statement of Income and Expenses
Income Income from Loans
Income From Investments
Other Income
Total Income
24,049,152
205,177
8,609,652
32,863,981
23,345,899
262,646
6,656,918
30,265,463
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
11,309,766
935,223
2,296,814
1,169,868
451,769
1,776,776
34,741
2,729,712
3,073,435
23,778,104
9,085,877
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
"We are thrilled to be growing, because not only do we continue to provide great service and sound financial advice to our members, but we also have the opportunities to hire more people and give back to the communities we serve."
Bill Lawton, Community Financial President/CEO

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

4-H Livestock Auction
Allen PTO - Exercise Stations
Alpenfest
American Cancer Society Relay For Life
Angela Hospice
Area Food Pantries
Atlanta Chamber
Atlanta High School Football Program
Bentley Elementary
Besser Elementary School
Brush Creek Mill, Inc
Canton Community Foundation
Canton Goodfellows
Canton Libertyfest
Canton Lions
Canton Rotary Foundation
Canton Senior Center
Canton Township
CARE of Southeastern Michigan
Chicks4Charities
Christmas in Action of Wayne County, Inc
Community Literacy Council Spelling Bee
Community Mediation Servicesv Cooke School PTA
Cornerstone City Church
Eagle Scout Project - Maybury Farm
Ecology Club
Educational Excellence Foundation
Elks Charitable Grant Fund (Gold Key)
Fire Up Festival, Novi
Friends for Life of Otsego County
Friends of I-275 Metro Trail
Friends of Northville Library
Friends of the Penn
Friends Together
Friendship Shelter
Gallimore PTO, Inc
Gaylord High School Drama Club
Gaylord Intermediate School
Gerad Meteyer Foundation
Girls on the Run
Giving Songs, Inc
Good Morning USA Parade
Great Lakes Regional Chili Cook Off
Guardian Gals, Inc.
Hillman High School Varsity Baseball
Hillman Sportsman Club
Integrated Living Solutions @ Canton Manor
Johannesburg-Lewiston High School Track
Judson Center
Kids Against Hunger
Kiwanis
Lewiston Chamber
Lewiston PTA - Playground Fund
Light Up The Night, Novi
Lighthouse Family Charity
Michigan Northern Lights
Miller Elementary School
Millman N.R.G. Foundation
Montmorency County Council on Aging
Montmorency County Habitat for Humanity
Music in The Air, Plymouth
Myron H. Beals American Legion Post 32
New Hope Center for Grief Support
New Morning School
NHS Stage Parents
Northville Historical Society
Northville Victorian Festival
Novi Rotary
Old Village School, Northville
Open Door Ministry
Otsego County Fair
Otsego County Food Pantry
PCCS Elementary Program for Students with Autism
PCCS Web Leaders Program
Plymouth Canton Music Boosters
Plymouth Chamber
Plymouth Community Arts Council
Plymouth DDA
Plymouth District Library
Plymouth Fife & Drum Corps
Plymouth Historical Museum
Plymouth Ice Festival
Plymouth Preservation Network
Plymouth Rotary Chicken BBQ
Plymouth Township
Plymouth United Way
Plymouth YMCA
Safety Town
Salem Dugout Club
Salem Linebackers - Hardship Fund
Salvation Army
Salvation Army Coats for Kids Program
Starkweather Alternative High School
Tail Wagger’s 1990
THAW
The Baby Basket
The BLOCK Youth & Teen Center
The Detroit Area Diaper Bank
The Infant and Preschool Special Needs Program, Plymouth-Canton Schools
The Little Stars Foundation
The Village Theater at Cherry Hill
Thornton Creek Elementary School
Timberfest
Toys For Tots
United Home Health Services
United Way of NE Michigan
United Way of Otsego County
Wives Behind The Badge - Michigan Auxiliary
WSDP Radio, 88.1 The Park