Dec, 31, 2023 — BOWATER EMPLOYEES CREDIT UNION is a federally insured state chartered credit union headquartered in CALHOUN, TN with 5 branch locations and about $255.58 million in total assets. Opened 70 years ago in 1954, BOWATER EMPLOYEES CREDIT UNION has about 19,491 members and employs 62 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BOWATER EMPLOYEES CREDIT UNION |
|---|---|
| Address: (Main Office) | 5123 Highway 11 S CALHOUN, TN 37309 |
| Phone: | (423) 336-7268 |
| Fax: | (423) 336-7740 |
| Website: | https://www.bowaterecu.org |
| Branches: | 5 branch locations |
| Members: | 19,491 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67970 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $255,580,708 |
| CEO/Manager: | Matthew C Holden |
| Chairperson: | David Lattimore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,513,274 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 71,729,676 |
| Unsecured Loans | 15,759,106 |
| Other Loans | 95,811,869 |
| TOTAL LOANS | 183,300,651 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,120,564 |
| Land And Building | 5,160,634 |
| Other Fixed Assets | 817,978 |
| NCUSIF Deposit | 2,184,796 |
| All Other Assets | 521,860 |
| TOTAL ASSETS | 255,580,708 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 360,570 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,903,612 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 47,016,020 |
| Regular shares | 88,554,342 |
| All Other Shares & Deposits | 93,070,279 |
| TOTAL SHARES & DEPOSITS | 228,640,641 |
| TOTAL LIABILITIES | 232,904,823 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 22,675,885 |
| TOTAL EQUITY | 22,675,885 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 255,580,708 |
| INCOME & EXPENSE | |
| Loan Income | 10,754,211 |
| Investment Income | 718,861 |
| Other Income | 1,487,994 |
| Total Employee Compensation & Benefits | 4,481,740 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,801,551 |
| Non-operating Income & (Expense) | -9,225 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 648,709 |
| Cost of Funds | 2,216,612 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,015,451 |
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