Dec, 31, 2023 — COVINGTON SCHOOLS FEDERAL CREDIT UNION is a federal credit union headquartered in ANDALUSIA, AL with 0 branch location and about $19.51 million in total assets. Opened 67 years ago in 1957, COVINGTON SCHOOLS FEDERAL CREDIT UNION has about 1,600 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) | 931 River Falls St ANDALUSIA, AL 36420 |
| Phone: | (334) 222-2169 |
| Fax: | (334) 222-4363 |
| Website: | n/a |
| Branches: | 0 branch locations |
| Members: | 1,600 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11950 |
|---|---|
| Membership Type: | Educational |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $19,513,330 |
| CEO/Manager: | Brittany Cox |
| Chairperson: | William Hines |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 447,113 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 551,723 |
| Unsecured Loans | 1,121,680 |
| Other Loans | 11,441,889 |
| TOTAL LOANS | 13,115,292 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -57,713 |
| Land And Building | 156,123 |
| Other Fixed Assets | 4,621 |
| NCUSIF Deposit | 141,442 |
| All Other Assets | 0 |
| TOTAL ASSETS | 19,513,330 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 28,232 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 11,216,885 |
| All Other Shares & Deposits | 644,713 |
| TOTAL SHARES & DEPOSITS | 11,861,599 |
| TOTAL LIABILITIES | 11,889,831 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,623,499 |
| TOTAL EQUITY | 7,623,499 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 19,513,330 |
| INCOME & EXPENSE | |
| Loan Income | 542,097 |
| Investment Income | 325,823 |
| Other Income | 13,349 |
| Total Employee Compensation & Benefits | 113,816 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 166,274 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,915 |
| Cost of Funds | 84,485 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 491,198 |
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