Dec, 31, 2023 — FLORENCE FEDERAL CREDIT UNION is a federal credit union headquartered in FLORENCE, AL with 3 branch locations and about $67.41 million in total assets. Opened 65 years ago in 1959, FLORENCE FEDERAL CREDIT UNION has about 4,008 members and employs 18 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FLORENCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1505 N Pine St FLORENCE, AL 35630-2285 |
| Phone: | (256) 767-4700 |
| Fax: | (256) 766-7414 |
| Website: | https://ffcuonline.com |
| Branches: | 3 branch locations |
| Members: | 4,008 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13167 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $67,412,749 |
| CEO/Manager: | Lisa Eckl |
| Chairperson: | Roger Pope |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,353,908 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,267,820 |
| Unsecured Loans | 2,511,713 |
| Other Loans | 13,724,090 |
| TOTAL LOANS | 32,503,624 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -146,103 |
| Land And Building | 2,091,899 |
| Other Fixed Assets | 173,338 |
| NCUSIF Deposit | 506,017 |
| All Other Assets | 9,041 |
| TOTAL ASSETS | 67,412,749 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12,939 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 881,998 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,813,044 |
| Regular shares | 21,754,309 |
| All Other Shares & Deposits | 28,722,134 |
| TOTAL SHARES & DEPOSITS | 59,289,487 |
| TOTAL LIABILITIES | 60,184,424 |
| Regular Reserve | 0 |
| Other Reserves | -1,416,435 |
| Undivided Earnings | 8,644,760 |
| TOTAL EQUITY | 7,228,325 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 67,412,749 |
| INCOME & EXPENSE | |
| Loan Income | 1,990,744 |
| Investment Income | 746,254 |
| Other Income | 222,946 |
| Total Employee Compensation & Benefits | 998,171 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,124,329 |
| Non-operating Income & (Expense) | -21,073 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 123,529 |
| Cost of Funds | 751,709 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 260,876 |
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