Dec, 31, 2020 — PALMETTO CITIZENS FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBIA, SC with 15 branch locations and about $1.14 billion in total assets. Opened 85 years ago in 1936, PALMETTO CITIZENS FEDERAL CREDIT UNION has about 72,491 members and employs 305 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PALMETTO CITIZENS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | P.O. BOX 5846 COLUMBIA, SC 29250 |
| Phone: | (803) 779-1232 |
| Fax: | (803) 376-2674 |
| Website: | http://www.palmettocitizens.org |
| Branches: | 15 branch locations |
| Members: | 72,491 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1472 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Mar 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,142,994,248 |
| CEO/Manager: | Nicholas Wodogaza |
| Chairperson: | William Guy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 111,971,917 |
| TOTAL INVESTMENTS | 382,552,759 |
| Loans Held for Sale | 160,201 |
| Real Estate Loans | 301,713,243 |
| Unsecured Loans | 76,256,177 |
| Other Loans | 207,386,898 |
| TOTAL LOANS | 585,356,318 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,913,286 |
| Land And Building | 27,701,779 |
| Other Fixed Assets | 3,932,007 |
| NCUSIF Deposit | 7,786,931 |
| All Other Assets | 27,445,622 |
| TOTAL ASSETS | 1,142,994,248 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 804,229 |
| Notes & Interest Payable | 112,785,064 |
| Accounts Payable & Other Liabilities | 14,621,765 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 226,389,468 |
| Regular shares | 219,683,382 |
| All Other Shares & Deposits | 444,843,100 |
| TOTAL SHARES & DEPOSITS | 890,915,950 |
| TOTAL LIABILITIES | 1,019,127,008 |
| Regular Reserve | 4,746,878 |
| Other Reserves | 2,312,351 |
| Undivided Earnings | 116,808,011 |
| TOTAL EQUITY | 123,867,240 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,142,994,248 |
| INCOME & EXPENSE | |
| Loan Income | 28,178,551 |
| Investment Income | 5,234,667 |
| Other Income | 16,992,551 |
| Total Employee Compensation & Benefits | 17,786,179 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,764,824 |
| Non-operating Income & (Expense) | 74,458 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,061,047 |
| Cost of Funds | 8,040,034 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,828,143 |
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