Dec, 31, 2023 — ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION is a federal credit union headquartered in SHEFFIELD, AL with 1 branch location and about $40.92 million in total assets. Opened 66 years ago in 1958, ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION has about 2,595 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION |
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Address: (Main Office) | 1705 E 17th St SHEFFIELD, AL 35660-2517 |
Phone: | (256) 383-6551 |
Fax: | (256) 383-6556 |
Website: | https://www.ew558fcu.com |
Branches: | 1 branch locations |
Members: | 2,595 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12478 |
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Membership Type: | Associational - Fraternal, other than those designated 'low-income' |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $40,922,604 |
CEO/Manager: | VICKI M MORRIS |
Chairperson: | Hayes A Rutledge |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,282,815 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,550,582 |
Unsecured Loans | 843,276 |
Other Loans | 22,556,812 |
TOTAL LOANS | 24,950,670 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -127,082 |
Land And Building | 498,245 |
Other Fixed Assets | 9,792 |
NCUSIF Deposit | 274,607 |
All Other Assets | 0 |
TOTAL ASSETS | 40,922,604 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 79,801 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 150,426 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 0 |
Regular shares | 13,561,025 |
All Other Shares & Deposits | 20,073,460 |
TOTAL SHARES & DEPOSITS | 33,634,484 |
TOTAL LIABILITIES | 33,866,555 |
Regular Reserve | 0 |
Other Reserves | 421,750 |
Undivided Earnings | 6,634,299 |
TOTAL EQUITY | 7,056,049 |
TOTAL LIABILITIES, SHARES, & EQUITY | 40,922,604 |
INCOME & EXPENSE | |
Loan Income | 1,326,995 |
Investment Income | 638,219 |
Other Income | 8,477 |
Total Employee Compensation & Benefits | 440,517 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 170,457 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,435 |
Cost of Funds | 606,906 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 750,294 |
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» See also Statement of Financial Condition