Dec, 31, 2023 — SYCAMORE FEDERAL CREDIT UNION is a federal credit union headquartered in TALLADEGA, AL with 1 branch location and about $51.76 million in total assets. Opened 79 years ago in 1945, SYCAMORE FEDERAL CREDIT UNION has about 2,731 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SYCAMORE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 18070 AL Highway 21 TALLADEGA, AL 35160 |
| Phone: | (256) 245-5887 |
| Fax: | (256) 249-0560 |
| Website: | https://www.sycamorefcu.com |
| Branches: | 1 branch locations |
| Members: | 2,731 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5241 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1945 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,759,046 |
| CEO/Manager: | Marshall McGrady |
| Chairperson: | Lewis Lackey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,945,969 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 25,131,368 |
| Unsecured Loans | 648,590 |
| Other Loans | 15,317,844 |
| TOTAL LOANS | 41,253,402 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -169,297 |
| Land And Building | 710,562 |
| Other Fixed Assets | 13,287 |
| NCUSIF Deposit | 370,215 |
| All Other Assets | 0 |
| TOTAL ASSETS | 51,759,046 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 206,399 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,946,819 |
| Regular shares | 29,426,917 |
| All Other Shares & Deposits | 10,641,614 |
| TOTAL SHARES & DEPOSITS | 42,015,350 |
| TOTAL LIABILITIES | 42,221,749 |
| Regular Reserve | 0 |
| Other Reserves | 73,245 |
| Undivided Earnings | 9,464,052 |
| TOTAL EQUITY | 9,537,297 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,759,046 |
| INCOME & EXPENSE | |
| Loan Income | 3,081,552 |
| Investment Income | 353,887 |
| Other Income | 570,135 |
| Total Employee Compensation & Benefits | 807,347 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 520,941 |
| Non-operating Income & (Expense) | 24,248 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 84,668 |
| Cost of Funds | 1,556,051 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,060,815 |
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