Dec, 31, 2023 — COUNCILL FEDERAL CREDIT UNION is a federal credit union headquartered in NORMAL, AL with 1 branch location and about $2.00 million in total assets. Opened 70 years ago in 1954, COUNCILL FEDERAL CREDIT UNION has about 579 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COUNCILL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1061 Buchanan Way NORMAL, AL 35762 |
| Phone: | (256) 372-5379 |
| Fax: | (256) 372-5765 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 579 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9554 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,000,778 |
| CEO/Manager: | Rufus Gilmore |
| Chairperson: | Joyce Lockhart |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 302,875 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 432,368 |
| Other Loans | 380,911 |
| TOTAL LOANS | 813,279 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -41,517 |
| Land And Building | 12,925 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 24,451 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,000,778 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -785,334 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,638,039 |
| All Other Shares & Deposits | 643,605 |
| TOTAL SHARES & DEPOSITS | 2,281,644 |
| TOTAL LIABILITIES | 1,496,310 |
| Regular Reserve | 0 |
| Other Reserves | 32,816 |
| Undivided Earnings | 471,652 |
| TOTAL EQUITY | 504,468 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,000,778 |
| INCOME & EXPENSE | |
| Loan Income | 74,355 |
| Investment Income | 36,707 |
| Other Income | 7,398 |
| Total Employee Compensation & Benefits | 68,063 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 17,873 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 14,572 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 27,952 |
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