Dec, 31, 2023 — HOPESOUTH FEDERAL CREDIT UNION is a federal credit union headquartered in ABBEVILLE, SC with 2 branch locations and about $32.56 million in total assets. Opened 53 years ago in 1971, HOPESOUTH FEDERAL CREDIT UNION has about 3,527 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: | HOPESOUTH FEDERAL CREDIT UNION |
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Address: (Main Office) | 807 W Greenwood St ABBEVILLE, SC 29620-2552 |
Phone: | (864) 366-9602 |
Fax: | (864) 366-8318 |
Website: | https://www.hopesouth.org |
Branches: | 2 branch locations |
Members: | 3,527 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 20824 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1971 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $32,559,084 |
CEO/Manager: | Faye Crocker |
Chairperson: | Shannon Sears |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,314,241 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 3,812,927 |
Other Loans | 10,509,234 |
TOTAL LOANS | 14,322,161 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -302,736 |
Land And Building | 506,693 |
Other Fixed Assets | 32,496 |
NCUSIF Deposit | 230,196 |
All Other Assets | 21,297 |
TOTAL ASSETS | 32,559,084 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 25,982 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 188,906 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 4,883,141 |
Regular shares | 13,117,471 |
All Other Shares & Deposits | 5,921,257 |
TOTAL SHARES & DEPOSITS | 23,921,870 |
TOTAL LIABILITIES | 24,136,758 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 8,422,326 |
TOTAL EQUITY | 8,422,326 |
TOTAL LIABILITIES, SHARES, & EQUITY | 32,559,084 |
INCOME & EXPENSE | |
Loan Income | 1,421,544 |
Investment Income | 717,235 |
Other Income | 298,469 |
Total Employee Compensation & Benefits | 729,616 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,074,486 |
Non-operating Income & (Expense) | 555,742 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 206,443 |
Cost of Funds | 123,321 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,219,883 |
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