Dec, 31, 2023 — ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION is a federal credit union headquartered in SHEFFIELD, AL with 1 branch location and about $40.92 million in total assets. Opened 66 years ago in 1958, ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION has about 2,595 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1705 E 17th St SHEFFIELD, AL 35660-2517 |
| Phone: | (256) 383-6551 |
| Fax: | (256) 383-6556 |
| Website: | https://www.ew558fcu.com |
| Branches: | 1 branch locations |
| Members: | 2,595 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12478 |
|---|---|
| Membership Type: | Associational - Fraternal, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $40,922,604 |
| CEO/Manager: | VICKI M MORRIS |
| Chairperson: | Hayes A Rutledge |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,282,815 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,550,582 |
| Unsecured Loans | 843,276 |
| Other Loans | 22,556,812 |
| TOTAL LOANS | 24,950,670 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -127,082 |
| Land And Building | 498,245 |
| Other Fixed Assets | 9,792 |
| NCUSIF Deposit | 274,607 |
| All Other Assets | 0 |
| TOTAL ASSETS | 40,922,604 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 79,801 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 150,426 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 13,561,025 |
| All Other Shares & Deposits | 20,073,460 |
| TOTAL SHARES & DEPOSITS | 33,634,484 |
| TOTAL LIABILITIES | 33,866,555 |
| Regular Reserve | 0 |
| Other Reserves | 421,750 |
| Undivided Earnings | 6,634,299 |
| TOTAL EQUITY | 7,056,049 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 40,922,604 |
| INCOME & EXPENSE | |
| Loan Income | 1,326,995 |
| Investment Income | 638,219 |
| Other Income | 8,477 |
| Total Employee Compensation & Benefits | 440,517 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 170,457 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,435 |
| Cost of Funds | 606,906 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 750,294 |
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