Dec, 31, 2020 — RAPIDES FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, LA with 2 branch locations and about $6.12 million in total assets. Opened 63 years ago in 1958, RAPIDES FEDERAL CREDIT UNION has about 1,048 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: | RAPIDES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 612 BROADWAY AVE ALEXANDRIA, LA 71302 |
| Phone: | (318) 445-2866 |
| Fax: | (318) 448-1406 |
| Website: | http://www.rapidesfederalcu.com |
| Branches: | 2 branch locations |
| Members: | 1,048 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12225 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Nov 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,115,215 |
| CEO/Manager: | Michael L Bell |
| Chairperson: | Susie C Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,100,753 |
| TOTAL INVESTMENTS | 3,460,479 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 268,640 |
| Other Loans | 1,169,386 |
| TOTAL LOANS | 1,438,026 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,787 |
| Land And Building | 53,439 |
| Other Fixed Assets | 5,377 |
| NCUSIF Deposit | 41,245 |
| All Other Assets | 22,683 |
| TOTAL ASSETS | 6,115,215 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 28,620 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,464,648 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,464,648 |
| TOTAL LIABILITIES | 4,493,268 |
| Regular Reserve | 652,510 |
| Other Reserves | 0 |
| Undivided Earnings | 969,437 |
| TOTAL EQUITY | 1,621,947 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,115,215 |
| INCOME & EXPENSE | |
| Loan Income | 103,654 |
| Investment Income | 74,956 |
| Other Income | 32,317 |
| Total Employee Compensation & Benefits | 94,870 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 104,801 |
| Non-operating Income & (Expense) | 26,977 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -8,793 |
| Cost of Funds | 11,738 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 35,288 |
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