Dec, 31, 2023 — ECO CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 6 branch locations and about $201.05 million in total assets. Opened 45 years ago in 1979, ECO CREDIT UNION has about 16,270 members and employs 40 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ECO CREDIT UNION |
|---|---|
| Address: (Main Office) | 105 Frankfurt Cir BIRMINGHAM, AL 35211-6978 |
| Phone: | (205) 226-3900 |
| Fax: | (205) 226-3932 |
| Website: | https://www.ecocu.org |
| Branches: | 6 branch locations |
| Members: | 16,270 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65464 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1979 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $201,054,027 |
| CEO/Manager: | Joey Hand |
| Chairperson: | Jimmie Pearson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 25,390,764 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 55,248,425 |
| Unsecured Loans | 12,048,024 |
| Other Loans | 27,623,269 |
| TOTAL LOANS | 94,919,718 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -457,038 |
| Land And Building | 7,860,158 |
| Other Fixed Assets | 636,958 |
| NCUSIF Deposit | 1,733,361 |
| All Other Assets | 8,016 |
| TOTAL ASSETS | 201,054,027 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 15,522,802 |
| Accounts Payable & Other Liabilities | 2,261,308 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 34,230,989 |
| Regular shares | 90,933,532 |
| All Other Shares & Deposits | 49,054,985 |
| TOTAL SHARES & DEPOSITS | 174,219,505 |
| TOTAL LIABILITIES | 192,003,615 |
| Regular Reserve | 0 |
| Other Reserves | 9,000,412 |
| Undivided Earnings | 50,000 |
| TOTAL EQUITY | 9,050,412 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 201,054,027 |
| INCOME & EXPENSE | |
| Loan Income | 4,709,986 |
| Investment Income | 2,150,107 |
| Other Income | 868,673 |
| Total Employee Compensation & Benefits | 2,889,421 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,907,606 |
| Non-operating Income & (Expense) | 217,735 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 97,526 |
| Cost of Funds | 1,680,941 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,510,238 |
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