Dec, 31, 2023 — TELCO COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in CANDLER, NC with 13 branch locations and about $369.54 million in total assets. Opened 89 years ago in 1935, TELCO COMMUNITY CREDIT UNION has about 34,525 members and employs 81 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TELCO COMMUNITY CREDIT UNION |
|---|---|
| Address: (Main Office) | 1137 Smokey Park Hwy CANDLER, NC 28715-8240 |
| Phone: | (828) 252-6458 |
| Fax: | (828) 255-9347 |
| Website: | https://www.telcoccu.org |
| Branches: | 13 branch locations |
| Members: | 34,525 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63545 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $369,544,002 |
| CEO/Manager: | David Burnette |
| Chairperson: | Robert M Lux |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,107,433 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 110,940,931 |
| Unsecured Loans | 6,058,238 |
| Other Loans | 99,248,458 |
| TOTAL LOANS | 216,247,627 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,740,355 |
| Land And Building | 12,867,161 |
| Other Fixed Assets | 1,559,713 |
| NCUSIF Deposit | 3,017,252 |
| All Other Assets | 172,202 |
| TOTAL ASSETS | 369,544,002 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 11,000,000 |
| Accounts Payable & Other Liabilities | 4,690,801 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 81,730,492 |
| Regular shares | 114,800,479 |
| All Other Shares & Deposits | 118,303,642 |
| TOTAL SHARES & DEPOSITS | 314,834,614 |
| TOTAL LIABILITIES | 330,525,415 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 39,018,587 |
| TOTAL EQUITY | 39,018,587 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 369,544,002 |
| INCOME & EXPENSE | |
| Loan Income | 10,593,419 |
| Investment Income | 3,714,339 |
| Other Income | 1,537,942 |
| Total Employee Compensation & Benefits | 4,705,000 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,213,378 |
| Non-operating Income & (Expense) | 1,746 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 674,550 |
| Cost of Funds | 2,702,475 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,170,984 |
| ↑ Back to Top | |