Dec, 31, 2023 — WINSOUTH CREDIT UNION is a non-federally insured state credit union headquartered in GADSDEN, AL with 9 branch locations and about $393.63 million in total assets. Opened 73 years ago in 1951, WINSOUTH CREDIT UNION has about 36,180 members and employs 122 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WINSOUTH CREDIT UNION |
|---|---|
| Address: (Main Office) | 110 S 26TH ST GADSDEN, AL 35904-1935 |
| Phone: | (256) 543-7302 |
| Fax: | (256) 543-7387 |
| Website: | https://www.winsouthcu.com |
| Branches: | 9 branch locations |
| Members: | 36,180 |
| Credit Union Type: | Non-Federally Insured State Credit Union |
| Charter Number: | 97076 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $393,632,160 |
| CEO/Manager: | DAVID EUBANKS |
| Chairperson: | RONALD PATRICK |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,647,346 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 107,595,360 |
| Unsecured Loans | 13,111,318 |
| Other Loans | 150,801,552 |
| TOTAL LOANS | 272,036,045 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,009,995 |
| Land And Building | 5,751,442 |
| Other Fixed Assets | 212,925 |
| NCUSIF Deposit | 0 |
| All Other Assets | 376,882 |
| TOTAL ASSETS | 393,632,160 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 26,380 |
| Notes & Interest Payable | 10,012,305 |
| Accounts Payable & Other Liabilities | 2,368,703 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 67,198,136 |
| Regular shares | 112,308,934 |
| All Other Shares & Deposits | 181,621,074 |
| TOTAL SHARES & DEPOSITS | 361,128,144 |
| TOTAL LIABILITIES | 373,535,532 |
| Regular Reserve | 0 |
| Other Reserves | -20,857,038 |
| Undivided Earnings | 40,953,666 |
| TOTAL EQUITY | 20,096,628 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 393,632,160 |
| INCOME & EXPENSE | |
| Loan Income | 13,299,130 |
| Investment Income | 2,343,465 |
| Other Income | 3,247,630 |
| Total Employee Compensation & Benefits | 6,577,634 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,347,842 |
| Non-operating Income & (Expense) | 277,268 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 855,000 |
| Cost of Funds | 3,777,322 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,124,421 |
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