Dec, 31, 2023 — RELIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in KING OF PRUSSIA, PA with 2 branch locations and about $33.90 million in total assets. Opened 84 years ago in 1940, RELIANCE FEDERAL CREDIT UNION has about 2,573 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | RELIANCE FEDERAL CREDIT UNION |
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Address: (Main Office) | 20102 Valley Forge Cir KING OF PRUSSIA, PA 19406-1179 |
Phone: | (610) 783-5229 |
Fax: | (610) 783-6921 |
Website: | https://www.reliancefcu.com |
Branches: | 2 branch locations |
Members: | 2,573 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 4120 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1940 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $33,901,500 |
CEO/Manager: | Douglas C Rumbaugh |
Chairperson: | Susan Chally |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,855,982 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 10,097,201 |
Unsecured Loans | 1,775,130 |
Other Loans | 4,384,900 |
TOTAL LOANS | 16,445,646 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -244,250 |
Land And Building | 20,000 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 313,724 |
All Other Assets | 0 |
TOTAL ASSETS | 33,901,500 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 500,000 |
Accounts Payable & Other Liabilities | 220,328 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 6,161,488 |
Regular shares | 17,125,230 |
All Other Shares & Deposits | 6,753,388 |
TOTAL SHARES & DEPOSITS | 30,040,106 |
TOTAL LIABILITIES | 30,760,434 |
Regular Reserve | 0 |
Other Reserves | -73,507 |
Undivided Earnings | 3,214,573 |
TOTAL EQUITY | 3,141,066 |
TOTAL LIABILITIES, SHARES, & EQUITY | 33,901,500 |
INCOME & EXPENSE | |
Loan Income | 853,432 |
Investment Income | 511,780 |
Other Income | 140,031 |
Total Employee Compensation & Benefits | 568,185 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 563,661 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 67,639 |
Cost of Funds | 113,094 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 401,401 |
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