Dec, 31, 2023 — FARMERS FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSONVILLE, FL with 1 branch location and about $20.85 million in total assets. Opened 90 years ago in 1934, FARMERS FEDERAL CREDIT UNION has about 1,198 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FARMERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6611 DUNN AVE JACKSONVILLE, FL 32218 |
| Phone: | (904) 764-4591 |
| Fax: | (904) 766-0099 |
| Website: | https://farmersfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,198 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 26 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,849,245 |
| CEO/Manager: | THERESA L WHITFIELD |
| Chairperson: | DAVID B ANDERSON JR |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,133,113 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,331,414 |
| Unsecured Loans | 476,608 |
| Other Loans | 4,704,489 |
| TOTAL LOANS | 6,512,511 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -69,917 |
| Land And Building | 129,682 |
| Other Fixed Assets | 1,199 |
| NCUSIF Deposit | 187,975 |
| All Other Assets | 0 |
| TOTAL ASSETS | 20,849,245 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 136,947 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,396,068 |
| Regular shares | 12,894,868 |
| All Other Shares & Deposits | 2,349,741 |
| TOTAL SHARES & DEPOSITS | 18,640,678 |
| TOTAL LIABILITIES | 18,777,625 |
| Regular Reserve | 0 |
| Other Reserves | 603,146 |
| Undivided Earnings | 1,468,474 |
| TOTAL EQUITY | 2,071,620 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,849,245 |
| INCOME & EXPENSE | |
| Loan Income | 313,936 |
| Investment Income | 259,857 |
| Other Income | 135,812 |
| Total Employee Compensation & Benefits | 237,453 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 329,012 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,947 |
| Cost of Funds | 23,993 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 110,200 |
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