Dec, 31, 2023 — TRUST FEDERAL CREDIT UNION is a federal credit union headquartered in CHATTANOOGA, TN with 3 branch locations and about $121.54 million in total assets. Opened 90 years ago in 1934, TRUST FEDERAL CREDIT UNION has about 8,544 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRUST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 555 Walnut St Ste 100 CHATTANOOGA, TN 37402 |
| Phone: | (423) 870-7610 |
| Fax: | |
| Website: | https://www.trustfcu.com |
| Branches: | 3 branch locations |
| Members: | 8,544 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24629 |
|---|---|
| Membership Type: | Multiple common bond - Primarily finance, insurance, real estate, trade |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $121,535,132 |
| CEO/Manager: | David Smart |
| Chairperson: | Tony Sanders |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,513,957 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 65,384,508 |
| Unsecured Loans | 4,117,179 |
| Other Loans | 32,818,103 |
| TOTAL LOANS | 103,220,151 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -852,703 |
| Land And Building | 1,805,028 |
| Other Fixed Assets | 1,143,650 |
| NCUSIF Deposit | 970,015 |
| All Other Assets | 353,957 |
| TOTAL ASSETS | 121,535,132 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 58,401 |
| Notes & Interest Payable | 211,005 |
| Accounts Payable & Other Liabilities | 1,680,204 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 3,500,000 |
| Share Drafts | 15,242,563 |
| Regular shares | 47,180,093 |
| All Other Shares & Deposits | 42,156,401 |
| TOTAL SHARES & DEPOSITS | 104,579,058 |
| TOTAL LIABILITIES | 110,038,334 |
| Regular Reserve | 0 |
| Other Reserves | 1,982,934 |
| Undivided Earnings | 9,513,864 |
| TOTAL EQUITY | 11,496,798 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 121,535,132 |
| INCOME & EXPENSE | |
| Loan Income | 5,703,619 |
| Investment Income | 280,093 |
| Other Income | 1,114,473 |
| Total Employee Compensation & Benefits | 2,392,745 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,960,880 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 463,792 |
| Cost of Funds | 1,748,998 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 560,356 |
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