Dec, 31, 2023 — SALEM SCHOOL SYSTEM CREDIT UNION is a federally insured state chartered credit union headquartered in SALEM, IL with 1 branch location and about $2.04 million in total assets. Opened 68 years ago in 1956, SALEM SCHOOL SYSTEM CREDIT UNION has about 370 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SALEM SCHOOL SYSTEM CREDIT UNION |
|---|---|
| Address: (Main Office) | Salem Community High School SALEM, IL 62881-4204 |
| Phone: | (618) 548-1009 |
| Fax: | |
| Website: | https://www.salemschoolscreditunion.com/ |
| Branches: | 1 branch locations |
| Members: | 370 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65346 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,036,311 |
| CEO/Manager: | Amy Detering |
| Chairperson: | Sharon D Sullens |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 32,594 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 220,260 |
| Other Loans | 1,371,917 |
| TOTAL LOANS | 1,592,177 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,211 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 15,967 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,036,311 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,533 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,408,694 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 1,408,695 |
| TOTAL LIABILITIES | 1,413,228 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 623,083 |
| TOTAL EQUITY | 623,083 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,036,311 |
| INCOME & EXPENSE | |
| Loan Income | 95,675 |
| Investment Income | 12,445 |
| Other Income | 40 |
| Total Employee Compensation & Benefits | 47,369 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 15,653 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 22,180 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 22,958 |
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