Dec, 31, 2023 — TONGASS FEDERAL CREDIT UNION is a federal credit union headquartered in KETCHIKAN, AK with 13 branch locations and about $219.07 million in total assets. Opened 61 years ago in 1963, TONGASS FEDERAL CREDIT UNION has about 13,615 members and employs 90 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 |
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Address: (Main Office) | 2000 Tongass Ave KETCHIKAN, AK 99901-6046 |
Phone: | (907) 225-9063 |
Fax: | (907) 225-9002 |
Website: | https://www.tongassfcu.com |
Branches: | 13 branch locations |
Members: | 13,615 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15523 |
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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, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $219,072,762 |
CEO/Manager: | Helen L Mickel |
Chairperson: | Scott D Edwards |
ASSETS: | $ Amount |
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Cash & Equivalents | 23,430,947 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 62,679,518 |
Unsecured Loans | 5,032,236 |
Other Loans | 72,799,451 |
TOTAL LOANS | 144,799,902 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -377,239 |
Land And Building | 5,834,354 |
Other Fixed Assets | 770,780 |
NCUSIF Deposit | 1,863,064 |
All Other Assets | 0 |
TOTAL ASSETS | 219,072,762 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 17,813 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,137,177 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 10,000,000 |
Share Drafts | 56,957,974 |
Regular shares | 84,919,580 |
All Other Shares & Deposits | 48,528,939 |
TOTAL SHARES & DEPOSITS | 190,406,492 |
TOTAL LIABILITIES | 202,561,482 |
Regular Reserve | 0 |
Other Reserves | 5,525,240 |
Undivided Earnings | 10,986,040 |
TOTAL EQUITY | 16,511,280 |
TOTAL LIABILITIES, SHARES, & EQUITY | 219,072,762 |
INCOME & EXPENSE | |
Loan Income | 8,741,854 |
Investment Income | 1,674,051 |
Other Income | 1,269,704 |
Total Employee Compensation & Benefits | 5,728,509 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,582,772 |
Non-operating Income & (Expense) | 98,963 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | -86,224 |
Cost of Funds | 1,146,684 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,726,310 |
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