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National Credit Union Service Organization

COVINGTON SCHOOLS FEDERAL CREDIT UNION

Dec, 31, 2020 — COVINGTON SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in ANDALUSIA, AL with 0 branch location and about $18.54 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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$18,542,690
CEO/Manager:Leslie A Threatt
Chairperson:William Hines

Call Report

  • Real Estate Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,886,524
TOTAL INVESTMENTS 3,578,000
Loans Held for Sale 0
 
 Real Estate Loans 996,258
 Unsecured Loans 995,436
 Other Loans 6,846,203
 TOTAL LOANS 8,837,897
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -84,042
 Land And Building 175,928
 Other Fixed Assets 7,906
 NCUSIF Deposit 105,145
 All Other Assets 35,332
  TOTAL ASSETS 18,542,690
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 32,329
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 11,892,078
 All Other Shares & Deposits 1,344
  TOTAL SHARES & DEPOSITS 11,893,422
  TOTAL LIABILITIES 11,925,751
 Regular Reserve 436,092
 Other Reserves 0
 Undivided Earnings 6,180,847
  TOTAL EQUITY 6,616,939
  TOTAL LIABILITIES, SHARES, & EQUITY 18,542,690
INCOME & EXPENSE  
 Loan Income 428,644
 Investment Income 70,257
 Other Income 17,622
 Total Employee Compensation & Benefits 129,831
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 129,970
 Non-operating Income & (Expense) 24,350
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,057
 Cost of Funds 38,611
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 207,404
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