Dec, 31, 2023 — SIMPLICITY CREDIT UNION is a federally insured state chartered credit union headquartered in MARSHFIELD, WI with 6 branch locations and about $461.12 million in total assets. Opened 75 years ago in 1949, SIMPLICITY CREDIT UNION has about 27,585 members and employs 118 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | SIMPLICITY CREDIT UNION |
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Address: (Main Office) | 222 E Upham St MARSHFIELD, WI 54449-1543 |
Phone: | (715) 387-3702 |
Fax: | (715) 387-3746 |
Website: | https://www.simplicity.coop |
Branches: | 6 branch locations |
Members: | 27,585 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66678 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $461,117,108 |
CEO/Manager: | Nicholas J Faber |
Chairperson: | Mark Page |
ASSETS: | $ Amount |
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Cash & Equivalents | 15,771,422 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 180,000 |
Real Estate Loans | 216,773,576 |
Unsecured Loans | 15,558,824 |
Other Loans | 137,743,009 |
TOTAL LOANS | 375,007,300 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,535,390 |
Land And Building | 8,975,379 |
Other Fixed Assets | 1,050,144 |
NCUSIF Deposit | 3,670,915 |
All Other Assets | 37,838 |
TOTAL ASSETS | 461,117,108 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,928 |
Notes & Interest Payable | 20,000,000 |
Accounts Payable & Other Liabilities | 6,539,999 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 77,037,950 |
Regular shares | 142,123,313 |
All Other Shares & Deposits | 173,054,597 |
TOTAL SHARES & DEPOSITS | 392,215,859 |
TOTAL LIABILITIES | 418,759,786 |
Regular Reserve | 0 |
Other Reserves | 1,534,627 |
Undivided Earnings | 40,822,695 |
TOTAL EQUITY | 42,357,322 |
TOTAL LIABILITIES, SHARES, & EQUITY | 461,117,108 |
INCOME & EXPENSE | |
Loan Income | 16,519,656 |
Investment Income | 4,528,911 |
Other Income | 1,067,782 |
Total Employee Compensation & Benefits | 8,841,376 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,246,649 |
Non-operating Income & (Expense) | 29,856 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 750,000 |
Cost of Funds | 6,235,738 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,405,417 |
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