Dec, 31, 2023 — PRIORITY FEDERAL CREDIT UNION is a federal credit union headquartered in RUSSELLVILLE, AR with 1 branch location and about $8.49 million in total assets. Opened 57 years ago in 1967, PRIORITY FEDERAL CREDIT UNION has about 1,965 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PRIORITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 430 N Hampton Ave RUSSELLVILLE, AR 72802 |
| Phone: | (479) 890-6203 |
| Fax: | (479) 890-8014 |
| Website: | https://www.priorityfederal.us |
| Branches: | 1 branch locations |
| Members: | 1,965 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18353 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,493,638 |
| CEO/Manager: | Candi Reddell |
| Chairperson: | Summer Watkins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 592,969 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 354,757 |
| Other Loans | 6,427,727 |
| TOTAL LOANS | 6,782,484 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,033 |
| Land And Building | 366,130 |
| Other Fixed Assets | 4,123 |
| NCUSIF Deposit | 85,318 |
| All Other Assets | 10,577 |
| TOTAL ASSETS | 8,493,638 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 98 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 61,008 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 930,515 |
| Regular shares | 6,245,435 |
| All Other Shares & Deposits | 372,194 |
| TOTAL SHARES & DEPOSITS | 7,548,144 |
| TOTAL LIABILITIES | 7,609,250 |
| Regular Reserve | 0 |
| Other Reserves | 396,752 |
| Undivided Earnings | 487,636 |
| TOTAL EQUITY | 884,388 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,493,638 |
| INCOME & EXPENSE | |
| Loan Income | 333,366 |
| Investment Income | 45,208 |
| Other Income | 61,623 |
| Total Employee Compensation & Benefits | 216,640 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 207,055 |
| Non-operating Income & (Expense) | 4,977 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -4,976 |
| Cost of Funds | 27,324 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 55,701 |
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