Dec, 31, 2023 — CAROLINA FEDERAL CREDIT UNION is a federal credit union headquartered in CHERRYVILLE, NC with 1 branch location and about $71.13 million in total assets. Opened 55 years ago in 1969, CAROLINA FEDERAL CREDIT UNION has about 7,309 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CAROLINA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1200 E Church St CHERRYVILLE, NC 28021-9211 |
| Phone: | (704) 435-0186 |
| Fax: | (704) 435-8061 |
| Website: | https://www.carolinafcu.org |
| Branches: | 1 branch locations |
| Members: | 7,309 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19788 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $71,128,468 |
| CEO/Manager: | Donna Beringer |
| Chairperson: | Patsy Irvin |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 12,754,800 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,649,467 |
| Unsecured Loans | 2,635,837 |
| Other Loans | 40,318,376 |
| TOTAL LOANS | 49,603,680 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -477,532 |
| Land And Building | 1,054,124 |
| Other Fixed Assets | 39,779 |
| NCUSIF Deposit | 581,962 |
| All Other Assets | 125,758 |
| TOTAL ASSETS | 71,128,468 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 711,674 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,313,402 |
| Regular shares | 21,989,848 |
| All Other Shares & Deposits | 32,861,318 |
| TOTAL SHARES & DEPOSITS | 63,164,568 |
| TOTAL LIABILITIES | 63,876,242 |
| Regular Reserve | 0 |
| Other Reserves | -39,998 |
| Undivided Earnings | 7,292,224 |
| TOTAL EQUITY | 7,252,226 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 71,128,468 |
| INCOME & EXPENSE | |
| Loan Income | 3,008,991 |
| Investment Income | 647,824 |
| Other Income | 366,800 |
| Total Employee Compensation & Benefits | 1,287,782 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,657,351 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 89,337 |
| Cost of Funds | 901,625 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 809,866 |
| ↑ Back to Top | |