Dec, 31, 2023 — CARTER FEDERAL CREDIT UNION is a federal credit union headquartered in SPRINGHILL, LA with 10 branch locations and about $721.54 million in total assets. Opened 70 years ago in 1954, CARTER FEDERAL CREDIT UNION has about 34,633 members and employs 136 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CARTER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 133 S Main St SPRINGHILL, LA 71075 |
| Phone: | (318) 539-4655 |
| Fax: | (318) 539-5104 |
| Website: | https://www.cartercu.org |
| Branches: | 10 branch locations |
| Members: | 34,633 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9164 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $721,538,708 |
| CEO/Manager: | Joe Arnold |
| Chairperson: | Joyce Butler |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 80,169,680 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 305,347,236 |
| Unsecured Loans | 49,017,983 |
| Other Loans | 203,053,563 |
| TOTAL LOANS | 557,866,123 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,543,016 |
| Land And Building | 21,479,086 |
| Other Fixed Assets | 5,033,979 |
| NCUSIF Deposit | 4,930,473 |
| All Other Assets | 183,386 |
| TOTAL ASSETS | 721,538,708 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 158,879 |
| Notes & Interest Payable | 105,794,667 |
| Accounts Payable & Other Liabilities | 7,080,204 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 19,750,000 |
| Share Drafts | 62,741,742 |
| Regular shares | 111,456,873 |
| All Other Shares & Deposits | 368,889,951 |
| TOTAL SHARES & DEPOSITS | 543,088,565 |
| TOTAL LIABILITIES | 675,987,037 |
| Regular Reserve | 0 |
| Other Reserves | 4,245,700 |
| Undivided Earnings | 41,305,971 |
| TOTAL EQUITY | 45,551,671 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 721,538,708 |
| INCOME & EXPENSE | |
| Loan Income | 30,482,601 |
| Investment Income | 4,611,932 |
| Other Income | 6,148,703 |
| Total Employee Compensation & Benefits | 10,080,770 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,164,881 |
| Non-operating Income & (Expense) | 2,225,696 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,541,924 |
| Cost of Funds | 14,727,078 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,327,665 |
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