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National Credit Union Service Organization

ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION

Dec, 31, 2020 — ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION is a federal credit union headquartered in SHEFFIELD, AL with 1 branch location and about $30.56 million in total assets. Opened 63 years ago in 1958, ELECTRICAL WORKERS NO 558 FEDERAL CREDIT UNION has about 2,640 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
Address:
(Main Office)
P.O. BOX 806
SHEFFIELD, AL 35660-0806
Phone:(256) 383-6551
Fax:(256) 383-6556
Website:http://www.ew558fcu.com
Branches:1 branch locations
Members:2,640
Credit Union Type:Federal Credit Union
Charter Number:12478
Membership Type:Associational - Fraternal, other than those designated 'low-income'
Corporate Credit Union:No
Year Opened:1958
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$30,563,578
CEO/Manager:VICKI M MORRIS
Chairperson:Hayes A Rutledge

Call Report

  • Micro Consumer Loans
  • Real Estate Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,256,265
TOTAL INVESTMENTS 9,799,018
Loans Held for Sale 0
 
 Real Estate Loans 1,369,031
 Unsecured Loans 818,228
 Other Loans 16,640,204
 TOTAL LOANS 18,827,463
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -119,596
 Land And Building 537,046
 Other Fixed Assets 15,404
 NCUSIF Deposit 189,869
 All Other Assets 58,109
  TOTAL ASSETS 30,563,578
LIABILITIES & CAPITAL:  
 Dividends Payable 32,063
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 109,747
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 15,330,937
 All Other Shares & Deposits 9,302,000
  TOTAL SHARES & DEPOSITS 24,632,937
  TOTAL LIABILITIES 24,774,747
 Regular Reserve 421,750
 Other Reserves 0
 Undivided Earnings 5,367,081
  TOTAL EQUITY 5,788,831
  TOTAL LIABILITIES, SHARES, & EQUITY 30,563,578
INCOME & EXPENSE  
 Loan Income 929,756
 Investment Income 84,494
 Other Income 7,003
 Total Employee Compensation & Benefits 384,838
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 145,991
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 39,000
 Cost of Funds 183,130
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 268,294
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