Dec, 31, 2023 — OREM CITY EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in OREM, UT with 1 branch location and about $2.62 million in total assets. Opened 64 years ago in 1960, OREM CITY EMPLOYEES FEDERAL CREDIT UNION has about 836 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: | OREM CITY EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 56 N State St OREM, UT 84057 |
| Phone: | (801) 229-7168 |
| Fax: | (801) 229-7352 |
| Website: | https://cu.orem.org |
| Branches: | 1 branch locations |
| Members: | 836 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13965 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,616,986 |
| CEO/Manager: | Kendall J Adamson |
| Chairperson: | Shirley Paz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 299,226 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 160,133 |
| Other Loans | 2,026,773 |
| TOTAL LOANS | 2,186,906 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,279 |
| Land And Building | 0 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 26,121 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,616,986 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,935 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,622,491 |
| All Other Shares & Deposits | 633,615 |
| TOTAL SHARES & DEPOSITS | 2,256,106 |
| TOTAL LIABILITIES | 2,259,041 |
| Regular Reserve | 0 |
| Other Reserves | 83,932 |
| Undivided Earnings | 274,013 |
| TOTAL EQUITY | 357,945 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,616,986 |
| INCOME & EXPENSE | |
| Loan Income | 93,802 |
| Investment Income | 15,623 |
| Other Income | 3,246 |
| Total Employee Compensation & Benefits | 61,583 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,408 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 13,444 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,236 |
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