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BAY CREDIT UNION

Dec, 31, 2023 — BAY CREDIT UNION is a federally insured state chartered credit union headquartered in PANAMA CITY, FL with 5 branch locations and about $167.51 million in total assets. Opened 72 years ago in 1952, BAY CREDIT UNION has about 12,152 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 263281543
Name:BAY CREDIT UNION
Address:
(Main Office)
601 N Highway 231
PANAMA CITY, FL 32405-4705
Phone:(850) 785-6103
Fax:(850) 785-1452
Website:https://www.hellocu.com
Branches:5 branch locations
Members:12,152
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63262
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$167,506,585
CEO/Manager:Michael Akers
Chairperson:Gary d Bliss

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,503,869
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 8,764,977
 Unsecured Loans 9,107,912
 Other Loans 92,865,540
 TOTAL LOANS 110,738,429
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,421,057
 Land And Building 5,574,129
 Other Fixed Assets 578,569
 NCUSIF Deposit 1,421,390
 All Other Assets 0
  TOTAL ASSETS 167,506,585
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,054,300
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 38,594,291
 Regular shares 69,129,677
 All Other Shares & Deposits 35,301,821
  TOTAL SHARES & DEPOSITS 143,025,789
  TOTAL LIABILITIES 148,080,089
 Regular Reserve 0
 Other Reserves 123,662
 Undivided Earnings 19,302,834
  TOTAL EQUITY 19,426,496
  TOTAL LIABILITIES, SHARES, & EQUITY 167,506,585
INCOME & EXPENSE  
 Loan Income 6,054,543
 Investment Income 663,033
 Other Income 1,383,123
 Total Employee Compensation & Benefits 2,995,359
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,342,311
 Non-operating Income & (Expense) 237,113
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 761,858
 Cost of Funds 835,886
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 699,390
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