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TOWN OF PALM BEACH FEDERAL CREDIT UNION

Dec, 31, 2021 — TOWN OF PALM BEACH FEDERAL CREDIT UNION is a federal credit union headquartered in WEST PALM BEACH, FL with 1 branch location and about $2.41 million in total assets. Opened 57 years ago in 1965, TOWN OF PALM BEACH FEDERAL CREDIT UNION has about 346 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TOWN OF PALM BEACH FEDERAL CREDIT UNION
Address:
(Main Office)
951 Okeechobee Rd Ste B
WEST PALM BEACH, FL 33401
Phone:(561) 655-4282
Fax:(561) 655-4637
Website:http://www.tpbfcu.org
Branches:1 branch locations
Members:346
Credit Union Type:Federal Credit Union
Charter Number:16834
Membership Type:Federal, State, Local Government
Corporate Credit Union:No
Year Opened:1965
Last Audited:Jun 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$2,406,685
CEO/Manager:Debra H Seadorf
Chairperson:James R Palmer

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 877,452
TOTAL INVESTMENTS 623,465
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 205,820
 Other Loans 684,654
 TOTAL LOANS 890,474
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -15,121
 Land And Building 0
 Other Fixed Assets 21
 NCUSIF Deposit 22,640
 All Other Assets 7,754
  TOTAL ASSETS 2,406,685
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,767
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,675,508
 All Other Shares & Deposits 547,777
  TOTAL SHARES & DEPOSITS 2,223,285
  TOTAL LIABILITIES 2,230,052
 Regular Reserve 44,337
 Other Reserves 0
 Undivided Earnings 132,296
  TOTAL EQUITY 176,633
  TOTAL LIABILITIES, SHARES, & EQUITY 2,406,685
INCOME & EXPENSE  
 Loan Income 67,039
 Investment Income 3,381
 Other Income 2,600
 Total Employee Compensation & Benefits 76,065
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 47,777
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,297
 Cost of Funds 5,048
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -56,363
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