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National Credit Union Service Organization

COVINGTON SCHOOLS FEDERAL CREDIT UNION

Mar, 31, 2021 — COVINGTON SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in ANDALUSIA, AL with 0 branch location and about $19.31 million in total assets. Opened 64 years ago in 1957, COVINGTON SCHOOLS FEDERAL CREDIT UNION has about 1,570 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:COVINGTON SCHOOLS FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 442
ANDALUSIA, AL 36420
Phone:(334) 222-2169
Fax:(334) 222-4363
Website:n/a
Branches:0 branch locations
Members:1,570
Credit Union Type:Federal Credit Union
Charter Number:11950
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1957
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$19,312,279
CEO/Manager:Leslie A Threatt
Chairperson:William Hines

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,784,511
TOTAL INVESTMENTS 3,330,000
Loans Held for Sale 0
 
 Real Estate Loans 969,698
 Unsecured Loans 959,913
 Other Loans 7,031,780
 TOTAL LOANS 8,961,391
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -72,936
 Land And Building 174,182
 Other Fixed Assets 7,087
 NCUSIF Deposit 105,145
 All Other Assets 22,899
  TOTAL ASSETS 19,312,279
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 36,310
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 12,601,397
 All Other Shares & Deposits 9,247
  TOTAL SHARES & DEPOSITS 12,610,644
  TOTAL LIABILITIES 12,646,954
 Regular Reserve 436,092
 Other Reserves 0
 Undivided Earnings 6,229,233
  TOTAL EQUITY 6,665,325
  TOTAL LIABILITIES, SHARES, & EQUITY 19,312,279
INCOME & EXPENSE  
 Loan Income 109,327
 Investment Income 8,418
 Other Income 1,825
 Total Employee Compensation & Benefits 40,229
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 32,398
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -10,354
 Cost of Funds 10,389
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 48,384
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