Dec, 31, 2023 — NEIGHBORS FEDERAL CREDIT UNION is a federal credit union headquartered in BATON ROUGE, LA with 11 branch locations and about $1.21 billion in total assets. Opened 70 years ago in 1954, NEIGHBORS FEDERAL CREDIT UNION has about 81,637 members and employs 230 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEIGHBORS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 12529 Perkins Rd BATON ROUGE, LA 70810 |
| Phone: | (225) 819-2178 |
| Fax: | (225) 819-8923 |
| Website: | https://www.neighborsfcu.org |
| Branches: | 11 branch locations |
| Members: | 81,637 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9229 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,214,067,011 |
| CEO/Manager: | Steve Webb |
| Chairperson: | Keith Bennett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 126,900,730 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 250,458,415 |
| Unsecured Loans | 144,246,840 |
| Other Loans | 541,046,859 |
| TOTAL LOANS | 935,849,466 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,952,668 |
| Land And Building | 31,010,519 |
| Other Fixed Assets | 3,726,330 |
| NCUSIF Deposit | 9,821,480 |
| All Other Assets | 1,600,892 |
| TOTAL ASSETS | 1,214,067,011 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 403 |
| Notes & Interest Payable | 25,000,000 |
| Accounts Payable & Other Liabilities | 6,897,422 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 43,000,000 |
| Share Drafts | 306,610,482 |
| Regular shares | 297,582,888 |
| All Other Shares & Deposits | 437,798,676 |
| TOTAL SHARES & DEPOSITS | 1,041,992,046 |
| TOTAL LIABILITIES | 1,116,889,871 |
| Regular Reserve | 0 |
| Other Reserves | -15,815,868 |
| Undivided Earnings | 112,993,008 |
| TOTAL EQUITY | 97,177,140 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,214,067,011 |
| INCOME & EXPENSE | |
| Loan Income | 49,412,419 |
| Investment Income | 6,378,247 |
| Other Income | 8,327,923 |
| Total Employee Compensation & Benefits | 21,953,516 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 24,192,061 |
| Non-operating Income & (Expense) | -69,811 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,913,435 |
| Cost of Funds | 17,019,307 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,369,519 |
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