Dec, 31, 2023 — STATEWIDE FEDERAL CREDIT UNION is a federal credit union headquartered in FLOWOOD, MS with 4 branch locations and about $172.14 million in total assets. Opened 75 years ago in 1949, STATEWIDE FEDERAL CREDIT UNION has about 21,898 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | STATEWIDE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 295 E Layfair Dr FLOWOOD, MS 39232-9527 |
| Phone: | (601) 420-5535 |
| Fax: | (601) 420-5689 |
| Website: | https://www.statewidefcu.org |
| Branches: | 4 branch locations |
| Members: | 21,898 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6369 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $172,141,375 |
| CEO/Manager: | Casey M Bacon |
| Chairperson: | Thomas L Waller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,819,641 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,937,871 |
| Unsecured Loans | 14,832,784 |
| Other Loans | 69,896,882 |
| TOTAL LOANS | 104,667,537 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -629,184 |
| Land And Building | 4,684,958 |
| Other Fixed Assets | 240,093 |
| NCUSIF Deposit | 1,512,481 |
| All Other Assets | 13,500 |
| TOTAL ASSETS | 172,141,375 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,000,000 |
| Accounts Payable & Other Liabilities | 3,184,324 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 32,308,355 |
| Regular shares | 64,512,802 |
| All Other Shares & Deposits | 58,100,155 |
| TOTAL SHARES & DEPOSITS | 154,921,311 |
| TOTAL LIABILITIES | 159,105,635 |
| Regular Reserve | 0 |
| Other Reserves | -3,403,037 |
| Undivided Earnings | 16,438,777 |
| TOTAL EQUITY | 13,035,740 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 172,141,375 |
| INCOME & EXPENSE | |
| Loan Income | 6,183,205 |
| Investment Income | 1,049,419 |
| Other Income | 2,919,615 |
| Total Employee Compensation & Benefits | 4,066,261 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,765,949 |
| Non-operating Income & (Expense) | -33,603 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 901,211 |
| Cost of Funds | 967,672 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,187,741 |
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