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National Credit Union Service Organization

EMPLOYEE RESOURCES CREDIT UNION

Dec, 31, 2023 — EMPLOYEE RESOURCES CREDIT UNION is a federally insured state chartered credit union headquartered in LAWRENCEBURG, TN with 6 branch locations and about $147.21 million in total assets. Opened 60 years ago in 1964, EMPLOYEE RESOURCES CREDIT UNION has about 22,329 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EMPLOYEE RESOURCES CREDIT UNION
Address:
(Main Office)
P O BOX 987
LAWRENCEBURG, TN 38464-4455
Phone:(931) 766-9288
Fax:(931) 762-0583
Website:https://www.ercu.org
Branches:6 branch locations
Members:22,329
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67789
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1964
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$147,209,137
CEO/Manager:Konda D Bowling
Chairperson:MARIE D HURREN

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,951,012
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 26,330,838
 Unsecured Loans 12,402,359
 Other Loans 85,915,339
 TOTAL LOANS 124,648,536
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -779,828
 Land And Building 3,142,795
 Other Fixed Assets 123,062
 NCUSIF Deposit 1,241,842
 All Other Assets 115,965
  TOTAL ASSETS 147,209,137
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 859,610
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 21,615,615
 Regular shares 41,402,668
 All Other Shares & Deposits 68,317,844
  TOTAL SHARES & DEPOSITS 131,336,127
  TOTAL LIABILITIES 132,195,737
 Regular Reserve 0
 Other Reserves 9,370,493
 Undivided Earnings 5,642,907
  TOTAL EQUITY 15,013,400
  TOTAL LIABILITIES, SHARES, & EQUITY 147,209,137
INCOME & EXPENSE  
 Loan Income 6,075,457
 Investment Income 259,057
 Other Income 2,073,398
 Total Employee Compensation & Benefits 2,280,357
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,107,332
 Non-operating Income & (Expense) 265,354
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 659,758
 Cost of Funds 1,689,320
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,936,499
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