Dec, 31, 2023 — FREDERIKSTED FEDERAL CREDIT UNION is a federal credit union headquartered in FREDERIKSTED, VI with 1 branch location and about $22.45 million in total assets. Opened 72 years ago in 1952, FREDERIKSTED FEDERAL CREDIT UNION has about 3,224 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FREDERIKSTED FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 59 Queen St FREDERIKSTED, VI 00840 |
| Phone: | (340) 772-0435 |
| Fax: | (340) 772-2595 |
| Website: | https://www.ffcuvi.org |
| Branches: | 1 branch locations |
| Members: | 3,224 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8069 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $22,451,583 |
| CEO/Manager: | Maria Porfil |
| Chairperson: | Eugene Mitchell |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 792,682 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 52,536 |
| Unsecured Loans | 1,731,395 |
| Other Loans | 5,474,234 |
| TOTAL LOANS | 7,258,165 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -113,628 |
| Land And Building | 7 |
| Other Fixed Assets | 6,521 |
| NCUSIF Deposit | 212,597 |
| All Other Assets | 0 |
| TOTAL ASSETS | 22,451,583 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,007 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 46,378 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 353,012 |
| Regular shares | 18,202,376 |
| All Other Shares & Deposits | 1,209,932 |
| TOTAL SHARES & DEPOSITS | 19,765,320 |
| TOTAL LIABILITIES | 19,813,705 |
| Regular Reserve | 0 |
| Other Reserves | 323,059 |
| Undivided Earnings | 2,314,819 |
| TOTAL EQUITY | 2,637,878 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 22,451,583 |
| INCOME & EXPENSE | |
| Loan Income | 769,187 |
| Investment Income | 234,896 |
| Other Income | 95,899 |
| Total Employee Compensation & Benefits | 347,883 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 395,783 |
| Non-operating Income & (Expense) | 27,051 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,958 |
| Cost of Funds | 23,093 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 380,608 |
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