Dec, 31, 2020 — FRIENDS FEDERAL CREDIT UNION is a federal credit union headquartered in NORMAN, OK with 1 branch location and about $10.07 million in total assets. Opened 60 years ago in 1961, FRIENDS FEDERAL CREDIT UNION has about 1,520 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: | FRIENDS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3100 NORTHWEST BOULEVARD NORMAN, OK 73072-4115 |
| Phone: | (405) 701-1330 |
| Fax: | (405) 310-6423 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 1,520 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14250 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1961 |
| Last Audited: | Nov 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,074,607 |
| CEO/Manager: | Michelle L Rouse |
| Chairperson: | Mark Tracey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,509,738 |
| TOTAL INVESTMENTS | 846,216 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 938,648 |
| Other Loans | 4,627,254 |
| TOTAL LOANS | 5,565,902 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,203 |
| Land And Building | 361,366 |
| Other Fixed Assets | 9,932 |
| NCUSIF Deposit | 52,094 |
| All Other Assets | 5,562 |
| TOTAL ASSETS | 10,074,607 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -173,839 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 411,226 |
| Regular shares | 9,306,479 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 9,717,705 |
| TOTAL LIABILITIES | 9,543,866 |
| Regular Reserve | 220,000 |
| Other Reserves | 0 |
| Undivided Earnings | 310,741 |
| TOTAL EQUITY | 530,741 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,074,607 |
| INCOME & EXPENSE | |
| Loan Income | 566,061 |
| Investment Income | 24,736 |
| Other Income | 100,200 |
| Total Employee Compensation & Benefits | 211,601 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 313,443 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 242,194 |
| Cost of Funds | 129,399 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -205,640 |
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