Dec, 31, 2023 — EASTMAN CREDIT UNION is a federally insured state chartered credit union headquartered in KINGSPORT, TN with 31 branch locations and about $8.02 billion in total assets. Opened 90 years ago in 1934, EASTMAN CREDIT UNION has about 324,672 members and employs 1,025 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | EASTMAN CREDIT UNION |
|---|---|
| Address: (Main Office) | 2021 Meadowview Ln KINGSPORT, TN 37660 |
| Phone: | (423) 229-8200 |
| Fax: | (423) 578-7630 |
| Website: | https://www.ecu.org |
| Branches: | 31 branch locations |
| Members: | 324,672 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68095 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $8,017,428,458 |
| CEO/Manager: | Kelly F Price |
| Chairperson: | E. Wayne Kirk |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 872,465,118 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,386,770,229 |
| Unsecured Loans | 391,605,037 |
| Other Loans | 2,148,354,400 |
| TOTAL LOANS | 6,926,729,666 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,741,640 |
| Land And Building | 73,156,388 |
| Other Fixed Assets | 18,660,552 |
| NCUSIF Deposit | 58,986,983 |
| All Other Assets | 1,797,875 |
| TOTAL ASSETS | 8,017,428,458 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 16,056,285 |
| Notes & Interest Payable | 32,367 |
| Accounts Payable & Other Liabilities | 68,614,335 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,083,465,691 |
| Regular shares | 2,096,207,707 |
| All Other Shares & Deposits | 3,640,454,292 |
| TOTAL SHARES & DEPOSITS | 6,820,127,690 |
| TOTAL LIABILITIES | 6,906,350,677 |
| Regular Reserve | 0 |
| Other Reserves | -2,883,668 |
| Undivided Earnings | 1,113,961,449 |
| TOTAL EQUITY | 1,111,077,781 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,017,428,458 |
| INCOME & EXPENSE | |
| Loan Income | 320,114,541 |
| Investment Income | 39,618,997 |
| Other Income | 21,273,987 |
| Total Employee Compensation & Benefits | 86,533,262 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 64,722,722 |
| Non-operating Income & (Expense) | 30,710 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,720,000 |
| Cost of Funds | 112,985,522 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 152,970,115 |
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