Dec, 31, 2023 — NEW SOUTH CREDIT UNION is a federally insured state chartered credit union headquartered in KNOXVILLE, TN with 3 branch locations and about $74.83 million in total assets. Opened 72 years ago in 1952, NEW SOUTH CREDIT UNION has about 6,718 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | NEW SOUTH CREDIT UNION |
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Address: (Main Office) | 3261 N Mall Rd KNOXVILLE, TN 37924 |
Phone: | (865) 523-0757 |
Fax: | |
Website: | https://www.newsouthcu.com |
Branches: | 3 branch locations |
Members: | 6,718 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 60645 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $74,831,748 |
CEO/Manager: | Richard Schulz |
Chairperson: | Mack Mull |
ASSETS: | $ Amount |
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Cash & Equivalents | 5,319,364 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 5,412,162 |
Unsecured Loans | 4,312,737 |
Other Loans | 25,377,339 |
TOTAL LOANS | 35,828,328 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -334,274 |
Land And Building | 2,884,063 |
Other Fixed Assets | 95,312 |
NCUSIF Deposit | 606,904 |
All Other Assets | 5,500 |
TOTAL ASSETS | 74,831,748 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 530,748 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 12,021,835 |
Regular shares | 32,310,689 |
All Other Shares & Deposits | 19,041,349 |
TOTAL SHARES & DEPOSITS | 63,373,873 |
TOTAL LIABILITIES | 63,904,621 |
Regular Reserve | 0 |
Other Reserves | 299,017 |
Undivided Earnings | 10,628,110 |
TOTAL EQUITY | 10,927,127 |
TOTAL LIABILITIES, SHARES, & EQUITY | 74,831,748 |
INCOME & EXPENSE | |
Loan Income | 1,813,244 |
Investment Income | 654,948 |
Other Income | 203,370 |
Total Employee Compensation & Benefits | 1,304,325 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 974,034 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 47,477 |
Cost of Funds | 402,553 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 530,587 |
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