Dec, 31, 2023 — RAILWAY EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in MUSCLE SHOALS, AL with 1 branch location and about $17.55 million in total assets. Opened 89 years ago in 1935, RAILWAY EMPLOYEES CREDIT UNION has about 1,446 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RAILWAY EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 1604 Gusmus Ave MUSCLE SHOALS, AL 35661 |
| Phone: | (256) 383-7940 |
| Fax: | (256) 383-8225 |
| Website: | https://www.railwaycreditunion.com |
| Branches: | 1 branch locations |
| Members: | 1,446 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61474 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $17,549,343 |
| CEO/Manager: | Mary Leigh Matthews |
| Chairperson: | David W Meeks |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 696,952 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,320,813 |
| Unsecured Loans | 453,509 |
| Other Loans | 2,567,743 |
| TOTAL LOANS | 5,342,065 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -58,431 |
| Land And Building | 104,424 |
| Other Fixed Assets | 29,325 |
| NCUSIF Deposit | 143,454 |
| All Other Assets | 0 |
| TOTAL ASSETS | 17,549,343 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,093 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 111,375 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,441,253 |
| Regular shares | 7,239,677 |
| All Other Shares & Deposits | 4,135,940 |
| TOTAL SHARES & DEPOSITS | 13,816,870 |
| TOTAL LIABILITIES | 13,938,338 |
| Regular Reserve | 0 |
| Other Reserves | -66,605 |
| Undivided Earnings | 3,677,610 |
| TOTAL EQUITY | 3,611,005 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 17,549,343 |
| INCOME & EXPENSE | |
| Loan Income | 338,673 |
| Investment Income | 260,668 |
| Other Income | 59,631 |
| Total Employee Compensation & Benefits | 195,362 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 307,362 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 45,690 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 110,558 |
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