Jun, 30, 2024 — TONGASS FEDERAL CREDIT UNION is a federal credit union headquartered in KETCHIKAN, AK with 10 branch locations and about $164.52 million in total assets. Opened 61 years ago in 1963, TONGASS FEDERAL CREDIT UNION has about 8,975 members and employs 57 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TONGASS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2000 Tongass Ave KETCHIKAN, AK 99901-6046 |
| Phone: | (907) 225-9063 |
| Fax: | (907) 225-9002 |
| Website: | https://www.tongassfcu.com |
| Branches: | 10 branch locations |
| Members: | 8,975 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15523 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $164,522,241 |
| CEO/Manager: | Helen L Mickel |
| Chairperson: | Scott D Edwards |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 18,699,720 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,060,597 |
| Real Estate Loans | 32,933,949 |
| Unsecured Loans | 3,076,916 |
| Other Loans | 50,637,420 |
| TOTAL LOANS | 92,476,874 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -160,211 |
| Land And Building | 3,598,780 |
| Other Fixed Assets | 304,633 |
| NCUSIF Deposit | 1,232,057 |
| All Other Assets | 0 |
| TOTAL ASSETS | 164,522,241 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 595 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,042,267 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 10,000,000 |
| Share Drafts | 48,117,601 |
| Regular shares | 68,493,503 |
| All Other Shares & Deposits | 29,351,547 |
| TOTAL SHARES & DEPOSITS | 145,962,651 |
| TOTAL LIABILITIES | 157,005,513 |
| Regular Reserve | 0 |
| Other Reserves | -2,073,079 |
| Undivided Earnings | 9,589,807 |
| TOTAL EQUITY | 7,516,728 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 164,522,241 |
| INCOME & EXPENSE | |
| Loan Income | 3,173,758 |
| Investment Income | 418,481 |
| Other Income | 820,618 |
| Total Employee Compensation & Benefits | 2,282,020 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,913,617 |
| Non-operating Income & (Expense) | 22,295 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 68,336 |
| Cost of Funds | 217,718 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 567,005 |
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