Mar, 31, 2021 — RAPIDES FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, LA with 2 branch locations and about $6.32 million in total assets. Opened 63 years ago in 1958, RAPIDES FEDERAL CREDIT UNION has about 1,045 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: | 1,045 |
| 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: | $6,320,260 |
| CEO/Manager: | Michael L Bell |
| Chairperson: | Susie C Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,289,268 |
| TOTAL INVESTMENTS | 3,510,684 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 248,335 |
| Other Loans | 1,153,700 |
| TOTAL LOANS | 1,402,035 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,174 |
| Land And Building | 51,802 |
| Other Fixed Assets | 12,478 |
| NCUSIF Deposit | 41,246 |
| All Other Assets | 19,921 |
| TOTAL ASSETS | 6,320,260 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 17,392 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,688,900 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,688,900 |
| TOTAL LIABILITIES | 4,706,292 |
| Regular Reserve | 652,510 |
| Other Reserves | 0 |
| Undivided Earnings | 961,458 |
| TOTAL EQUITY | 1,613,968 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,320,260 |
| INCOME & EXPENSE | |
| Loan Income | 23,712 |
| Investment Income | 15,767 |
| Other Income | 3,157 |
| Total Employee Compensation & Benefits | 24,029 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,102 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -255 |
| Cost of Funds | 2,894 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -7,978 |
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