Dec, 31, 2023 — FLORIDA RURAL ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in TALLAHASSEE, FL with 1 branch location and about $27.78 million in total assets. Opened 33 years ago in 1991, FLORIDA RURAL ELECTRIC CREDIT UNION has about 2,949 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FLORIDA RURAL ELECTRIC CREDIT UNION |
|---|---|
| Address: (Main Office) | 2916 Apalachee Pkwy TALLAHASSEE, FL 32301-3731 |
| Phone: | (850) 877-6168 |
| Fax: | (850) 671-6627 |
| Website: | https://www.frecu.org |
| Branches: | 1 branch locations |
| Members: | 2,949 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67561 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1991 |
| Last Audited: | Apr 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $27,777,483 |
| CEO/Manager: | Thomas Flowers |
| Chairperson: | JOHN BARTLEY |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 240,136 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 37,659 |
| Unsecured Loans | 1,750,337 |
| Other Loans | 19,844,630 |
| TOTAL LOANS | 21,632,626 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -107,943 |
| Land And Building | 0 |
| Other Fixed Assets | 41,287 |
| NCUSIF Deposit | 221,578 |
| All Other Assets | 0 |
| TOTAL ASSETS | 27,777,483 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 80,402 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,994,676 |
| Regular shares | 11,967,300 |
| All Other Shares & Deposits | 5,834,972 |
| TOTAL SHARES & DEPOSITS | 21,796,948 |
| TOTAL LIABILITIES | 21,877,350 |
| Regular Reserve | 0 |
| Other Reserves | 1,245,360 |
| Undivided Earnings | 4,654,773 |
| TOTAL EQUITY | 5,900,133 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 27,777,483 |
| INCOME & EXPENSE | |
| Loan Income | 1,170,750 |
| Investment Income | 194,864 |
| Other Income | 118,389 |
| Total Employee Compensation & Benefits | 480,014 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 672,464 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,952 |
| Cost of Funds | 187,697 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 182,259 |
| ↑ Back to Top | |