Dec, 31, 2023 — SOUTHERN CREDIT UNION is a federally insured state chartered credit union headquartered in CHATTANOOGA, TN with 1 branch location and about $20.96 million in total assets. Opened 91 years ago in 1933, SOUTHERN CREDIT UNION has about 1,828 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SOUTHERN CREDIT UNION |
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Address: (Main Office) | 508 National Ave CHATTANOOGA, TN 37404 |
Phone: | (423) 629-2578 |
Fax: | (423) 624-0987 |
Website: | https://www.southerncu.com |
Branches: | 1 branch locations |
Members: | 1,828 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66980 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1933 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $20,960,922 |
CEO/Manager: | Cindy Beale |
Chairperson: | Sandra Wallis |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,325,615 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 897,513 |
Unsecured Loans | 1,216,041 |
Other Loans | 6,743,036 |
TOTAL LOANS | 8,856,591 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -36,616 |
Land And Building | 103,972 |
Other Fixed Assets | 5,049 |
NCUSIF Deposit | 166,343 |
All Other Assets | 0 |
TOTAL ASSETS | 20,960,922 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 61,555 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 2,907,646 |
Regular shares | 7,996,225 |
All Other Shares & Deposits | 7,600,242 |
TOTAL SHARES & DEPOSITS | 18,504,113 |
TOTAL LIABILITIES | 18,565,668 |
Regular Reserve | 0 |
Other Reserves | 785,052 |
Undivided Earnings | 1,610,202 |
TOTAL EQUITY | 2,395,254 |
TOTAL LIABILITIES, SHARES, & EQUITY | 20,960,922 |
INCOME & EXPENSE | |
Loan Income | 463,623 |
Investment Income | 208,581 |
Other Income | 54,823 |
Total Employee Compensation & Benefits | 383,839 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 304,630 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,750 |
Cost of Funds | 196,491 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -450,538 |
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