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TONGASS FEDERAL CREDIT UNION

Dec, 31, 2023 — TONGASS FEDERAL CREDIT UNION is a federal credit union headquartered in KETCHIKAN, AK with 13 branch locations and about $219.07 million in total assets. Opened 61 years ago in 1963, TONGASS FEDERAL CREDIT UNION has about 13,615 members and employs 90 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 325272306
Name:TONGASS FEDERAL CREDIT UNION
Address:
(Main Office)
2000 Tongass Ave
KETCHIKAN, AK 99901-6046
Phone:(907) 225-9063
Fax:(907) 225-9002
Website:https://www.tongassfcu.com
Branches:13 branch locations
Members:13,615
Credit Union Type:Federal Credit Union
Charter Number:15523
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1963
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$219,072,762
CEO/Manager:Helen L Mickel
Chairperson:Scott D Edwards

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 23,430,947
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 62,679,518
 Unsecured Loans 5,032,236
 Other Loans 72,799,451
 TOTAL LOANS 144,799,902
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -377,239
 Land And Building 5,834,354
 Other Fixed Assets 770,780
 NCUSIF Deposit 1,863,064
 All Other Assets 0
  TOTAL ASSETS 219,072,762
LIABILITIES & CAPITAL:  
 Dividends Payable 17,813
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,137,177
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 10,000,000
 Share Drafts 56,957,974
 Regular shares 84,919,580
 All Other Shares & Deposits 48,528,939
  TOTAL SHARES & DEPOSITS 190,406,492
  TOTAL LIABILITIES 202,561,482
 Regular Reserve 0
 Other Reserves 5,525,240
 Undivided Earnings 10,986,040
  TOTAL EQUITY 16,511,280
  TOTAL LIABILITIES, SHARES, & EQUITY 219,072,762
INCOME & EXPENSE  
 Loan Income 8,741,854
 Investment Income 1,674,051
 Other Income 1,269,704
 Total Employee Compensation & Benefits 5,728,509
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,582,772
 Non-operating Income & (Expense) 98,963
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -86,224
 Cost of Funds 1,146,684
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,726,310
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