Dec, 31, 2023 — RESOURCE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, TN with 2 branch locations and about $50.46 million in total assets. Opened 61 years ago in 1963, RESOURCE FEDERAL CREDIT UNION has about 4,108 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RESOURCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 525 Old Hickory Blvd JACKSON, TN 38305 |
| Phone: | (731) 668-3464 |
| Fax: | (731) 668-5573 |
| Website: | https://resourcefcu.com |
| Branches: | 2 branch locations |
| Members: | 4,108 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24575 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $50,455,853 |
| CEO/Manager: | Davida Barker |
| Chairperson: | Karen Ashley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,639,447 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,030,136 |
| Unsecured Loans | 1,348,187 |
| Other Loans | 10,670,456 |
| TOTAL LOANS | 13,048,779 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,338 |
| Land And Building | 358,588 |
| Other Fixed Assets | 33,604 |
| NCUSIF Deposit | 472,259 |
| All Other Assets | 0 |
| TOTAL ASSETS | 50,455,853 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15,704 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 178,843 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,841,721 |
| Regular shares | 28,731,128 |
| All Other Shares & Deposits | 4,143,358 |
| TOTAL SHARES & DEPOSITS | 45,716,207 |
| TOTAL LIABILITIES | 45,910,754 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 4,545,099 |
| TOTAL EQUITY | 4,545,099 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 50,455,853 |
| INCOME & EXPENSE | |
| Loan Income | 686,571 |
| Investment Income | 801,302 |
| Other Income | 614,693 |
| Total Employee Compensation & Benefits | 705,908 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 921,823 |
| Non-operating Income & (Expense) | -21,945 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,453 |
| Cost of Funds | 63,969 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 417,891 |
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