Dec, 31, 2023 — SERVE CREDIT UNION is a federally insured state chartered credit union headquartered in DES MOINES, IA with 2 branch locations and about $98.08 million in total assets. Opened 92 years ago in 1932, SERVE CREDIT UNION has about 5,160 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SERVE CREDIT UNION |
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Address: (Main Office) | 423 E Court Ave DES MOINES, IA 50309-2010 |
Phone: | (515) 243-2677 |
Fax: | (515) 243-1143 |
Website: | https://www.servecu.org |
Branches: | 2 branch locations |
Members: | 5,160 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 65150 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1932 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $98,077,930 |
CEO/Manager: | Jami Weems |
Chairperson: | David M Ness |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,751,938 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 40,574,060 |
Unsecured Loans | 5,908,518 |
Other Loans | 34,614,202 |
TOTAL LOANS | 81,239,398 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -470,791 |
Land And Building | 1,298,966 |
Other Fixed Assets | 539,374 |
NCUSIF Deposit | 819,236 |
All Other Assets | 0 |
TOTAL ASSETS | 98,077,930 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 550,000 |
Accounts Payable & Other Liabilities | 1,077,973 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 12,795,347 |
Regular shares | 29,208,556 |
All Other Shares & Deposits | 39,596,568 |
TOTAL SHARES & DEPOSITS | 81,600,471 |
TOTAL LIABILITIES | 83,228,444 |
Regular Reserve | 0 |
Other Reserves | 5,035,916 |
Undivided Earnings | 9,813,570 |
TOTAL EQUITY | 14,849,486 |
TOTAL LIABILITIES, SHARES, & EQUITY | 98,077,930 |
INCOME & EXPENSE | |
Loan Income | 4,051,709 |
Investment Income | 455,116 |
Other Income | 168,299 |
Total Employee Compensation & Benefits | 1,474,645 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,805,407 |
Non-operating Income & (Expense) | 66,858 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 236,000 |
Cost of Funds | 1,090,660 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 965,076 |
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