Dec, 31, 2023 — S. C. TELCO FEDERAL CREDIT UNION is a federal credit union headquartered in GREENVILLE, SC with 10 branch locations and about $705.75 million in total assets. Opened 89 years ago in 1935, S. C. TELCO FEDERAL CREDIT UNION has about 50,442 members and employs 173 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | S. C. TELCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 420 E Park Ave Ste 100 GREENVILLE, SC 29601-2237 |
| Phone: | (864) 232-5553 |
| Fax: | |
| Website: | https://www.spero.financial |
| Branches: | 10 branch locations |
| Members: | 50,442 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 361 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $705,753,022 |
| CEO/Manager: | Brian McKay |
| Chairperson: | Michael Strickland |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 51,368,388 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 314,758,676 |
| Unsecured Loans | 42,188,489 |
| Other Loans | 221,195,333 |
| TOTAL LOANS | 578,142,497 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,770,416 |
| Land And Building | 16,161,734 |
| Other Fixed Assets | 3,983,245 |
| NCUSIF Deposit | 5,726,941 |
| All Other Assets | 412,532 |
| TOTAL ASSETS | 705,753,022 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 129,409 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 6,409,803 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 82,871,088 |
| Regular shares | 144,429,652 |
| All Other Shares & Deposits | 410,236,573 |
| TOTAL SHARES & DEPOSITS | 637,537,313 |
| TOTAL LIABILITIES | 649,076,525 |
| Regular Reserve | 0 |
| Other Reserves | 4,591,012 |
| Undivided Earnings | 52,085,485 |
| TOTAL EQUITY | 56,676,497 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 705,753,022 |
| INCOME & EXPENSE | |
| Loan Income | 36,115,354 |
| Investment Income | 3,578,805 |
| Other Income | 4,480,748 |
| Total Employee Compensation & Benefits | 16,109,922 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,905,381 |
| Non-operating Income & (Expense) | 253,148 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,697,286 |
| Cost of Funds | 16,270,288 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,839 |
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