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National Credit Union Service Organization

1ST COMMUNITY CREDIT UNION

Dec, 31, 2023 — 1ST COMMUNITY CREDIT UNION is a federally insured state chartered credit union headquartered in SPARTA, WI with 5 branch locations and about $274.10 million in total assets. Opened 63 years ago in 1961, 1ST COMMUNITY CREDIT UNION has about 15,260 members and employs 65 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:1ST COMMUNITY CREDIT UNION
Address:
(Main Office)
1000 W Wisconsin St
SPARTA, WI 54656-2230
Phone:(608) 269-8121
Fax:(608) 269-1074
Website:https://www.1stccu.com
Branches:5 branch locations
Members:15,260
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67012
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1961
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$274,102,799
CEO/Manager:Brad A Bauges
Chairperson:Wendy Whitehead

Call Report

  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,704,253
TOTAL INVESTMENTS 0
Loans Held for Sale 150,000
 
 Real Estate Loans 109,630,363
 Unsecured Loans 10,118,567
 Other Loans 88,022,302
 TOTAL LOANS 207,771,232
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -724,650
 Land And Building 8,110,274
 Other Fixed Assets 546,241
 NCUSIF Deposit 2,103,528
 All Other Assets 12,446
  TOTAL ASSETS 274,102,799
LIABILITIES & CAPITAL:  
 Dividends Payable 47,174
 Notes & Interest Payable 17,200,000
 Accounts Payable & Other Liabilities 3,473,716
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 42,219,279
 Regular shares 71,156,367
 All Other Shares & Deposits 118,875,584
  TOTAL SHARES & DEPOSITS 232,251,230
  TOTAL LIABILITIES 252,972,120
 Regular Reserve 0
 Other Reserves -849,418
 Undivided Earnings 21,980,097
  TOTAL EQUITY 21,130,679
  TOTAL LIABILITIES, SHARES, & EQUITY 274,102,799
INCOME & EXPENSE  
 Loan Income 9,681,765
 Investment Income 2,408,016
 Other Income 637,302
 Total Employee Compensation & Benefits 4,667,631
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,444,083
 Non-operating Income & (Expense) 3,637
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 429,698
 Cost of Funds 3,842,403
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,146,126
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