Dec, 31, 2022 — PRIORITY FEDERAL CREDIT UNION is a federal credit union headquartered in RUSSELLVILLE, AR with 1 branch location and about $9.90 million in total assets. Opened 56 years ago in 1967, PRIORITY FEDERAL CREDIT UNION has about 1,946 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PRIORITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 430 N Hampton Ave RUSSELLVILLE, AR 72802 |
| Phone: | (479) 890-6203 |
| Fax: | (479) 890-8014 |
| Website: | https://www.priorityfederal.us |
| Branches: | 1 branch locations |
| Members: | 1,946 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18353 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $9,901,875 |
| CEO/Manager: | Candi Reddell |
| Chairperson: | Summer Watkins |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 581,729 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 371,020 |
| Other Loans | 4,998,190 |
| TOTAL LOANS | 5,369,210 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,212 |
| Land And Building | 387,377 |
| Other Fixed Assets | 4,299 |
| NCUSIF Deposit | 89,732 |
| All Other Assets | 0 |
| TOTAL ASSETS | 9,901,875 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 17 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 40,797 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,136,348 |
| Regular shares | 7,454,427 |
| All Other Shares & Deposits | 440,933 |
| TOTAL SHARES & DEPOSITS | 9,031,708 |
| TOTAL LIABILITIES | 9,072,522 |
| Regular Reserve | 0 |
| Other Reserves | 396,752 |
| Undivided Earnings | 432,601 |
| TOTAL EQUITY | 829,353 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,901,875 |
| INCOME & EXPENSE | |
| Loan Income | 176,379 |
| Investment Income | 16,302 |
| Other Income | 42,594 |
| Total Employee Compensation & Benefits | 122,663 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 144,692 |
| Non-operating Income & (Expense) | 17,684 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -11,144 |
| Cost of Funds | 1,650 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 41,010 |
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