Dec, 31, 2023 — CAROLINAS TELCO FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLOTTE, NC with 8 branch locations and about $559.22 million in total assets. Opened 45 years ago in 1979, CAROLINAS TELCO FEDERAL CREDIT UNION has about 32,826 members and employs 122 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CAROLINAS TELCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2821 Crisman St CHARLOTTE, NC 28208 |
| Phone: | (704) 391-5600 |
| Fax: | (704) 391-5648 |
| Website: | https://www.ctelco.org |
| Branches: | 8 branch locations |
| Members: | 32,826 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23494 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1979 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $559,223,882 |
| CEO/Manager: | Chris Dickman |
| Chairperson: | Larry W Davis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 47,548,707 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 181,731,169 |
| Unsecured Loans | 45,222,048 |
| Other Loans | 90,758,015 |
| TOTAL LOANS | 317,711,231 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,113,386 |
| Land And Building | 3,355,770 |
| Other Fixed Assets | 3,198,487 |
| NCUSIF Deposit | 4,169,634 |
| All Other Assets | 156,880 |
| TOTAL ASSETS | 559,223,882 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 77,800,000 |
| Accounts Payable & Other Liabilities | 6,928,531 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 99,921,356 |
| Regular shares | 267,442,416 |
| All Other Shares & Deposits | 65,034,931 |
| TOTAL SHARES & DEPOSITS | 432,398,703 |
| TOTAL LIABILITIES | 517,305,257 |
| Regular Reserve | 0 |
| Other Reserves | -35,000,166 |
| Undivided Earnings | 76,918,791 |
| TOTAL EQUITY | 41,918,625 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 559,223,882 |
| INCOME & EXPENSE | |
| Loan Income | 17,645,243 |
| Investment Income | 5,494,761 |
| Other Income | 2,009,831 |
| Total Employee Compensation & Benefits | 10,154,295 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 10,600,801 |
| Non-operating Income & (Expense) | 886,976 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,355,067 |
| Cost of Funds | 4,728,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,401,319 |
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