Dec, 31, 2023 — LATITUDE 32 FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTON, SC with 2 branch locations and about $65.07 million in total assets. Opened 72 years ago in 1952, LATITUDE 32 FEDERAL CREDIT UNION has about 6,676 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LATITUDE 32 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1845 Sam Rittenberg Blvd CHARLESTON, SC 29407 |
| Phone: | (843) 556-4809 |
| Fax: | (843) 556-2868 |
| Website: | https://www.latitude32.org |
| Branches: | 2 branch locations |
| Members: | 6,676 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 8059 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $65,070,583 |
| CEO/Manager: | Marcus R Rhymer |
| Chairperson: | William C Hudson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,807,800 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 76,021 |
| Unsecured Loans | 1,795,775 |
| Other Loans | 47,493,366 |
| TOTAL LOANS | 49,365,162 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -215,715 |
| Land And Building | 337,256 |
| Other Fixed Assets | 88,748 |
| NCUSIF Deposit | 556,794 |
| All Other Assets | 5,237 |
| TOTAL ASSETS | 65,070,583 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 578,369 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,763,242 |
| Regular shares | 33,752,655 |
| All Other Shares & Deposits | 9,777,681 |
| TOTAL SHARES & DEPOSITS | 56,293,578 |
| TOTAL LIABILITIES | 56,871,947 |
| Regular Reserve | 0 |
| Other Reserves | 445,265 |
| Undivided Earnings | 7,753,371 |
| TOTAL EQUITY | 8,198,636 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,070,583 |
| INCOME & EXPENSE | |
| Loan Income | 2,225,589 |
| Investment Income | 449,806 |
| Other Income | 893,783 |
| Total Employee Compensation & Benefits | 1,344,783 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,394,426 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 88,411 |
| Cost of Funds | 108,476 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 734,164 |
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