Dec, 31, 2023 — GREENWOOD MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in GREENWOOD, SC with 2 branch locations and about $65.53 million in total assets. Opened 50 years ago in 1974, GREENWOOD MUNICIPAL FEDERAL CREDIT UNION has about 7,067 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREENWOOD MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 617 Durst Ave E GREENWOOD, SC 29649-2713 |
| Phone: | (864) 229-6177 |
| Fax: | (864) 942-7062 |
| Website: | https://www.gm-fcu.org |
| Branches: | 2 branch locations |
| Members: | 7,067 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 21628 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1974 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $65,532,365 |
| CEO/Manager: | Philip Heinlen |
| Chairperson: | Dan Wideman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,911,237 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,633,044 |
| Unsecured Loans | 5,915,660 |
| Other Loans | 25,768,889 |
| TOTAL LOANS | 34,317,593 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -132,306 |
| Land And Building | 735,733 |
| Other Fixed Assets | 96,546 |
| NCUSIF Deposit | 585,440 |
| All Other Assets | 80,240 |
| TOTAL ASSETS | 65,532,365 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16,785 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 275,035 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,678,274 |
| Regular shares | 33,128,281 |
| All Other Shares & Deposits | 18,356,612 |
| TOTAL SHARES & DEPOSITS | 59,163,167 |
| TOTAL LIABILITIES | 59,454,987 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,077,378 |
| TOTAL EQUITY | 6,077,378 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,532,365 |
| INCOME & EXPENSE | |
| Loan Income | 2,068,564 |
| Investment Income | 509,568 |
| Other Income | 479,857 |
| Total Employee Compensation & Benefits | 1,045,484 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,057,562 |
| Non-operating Income & (Expense) | -17,678 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 146,558 |
| Cost of Funds | 380,426 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 170,679 |
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