Dec, 31, 2023 — U. T. FEDERAL CREDIT UNION is a federal credit union headquartered in KNOXVILLE, TN with 8 branch locations and about $479.06 million in total assets. Opened 55 years ago in 1969, U. T. FEDERAL CREDIT UNION has about 25,771 members and employs 82 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | U. T. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1512 Coleman Rd KNOXVILLE, TN 37909 |
| Phone: | (865) 971-1971 |
| Fax: | |
| Website: | https://www.utfcu.org |
| Branches: | 8 branch locations |
| Members: | 25,771 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19448 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $479,063,265 |
| CEO/Manager: | Debbie H Jones |
| Chairperson: | Mike McNeil |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,101,755 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 196,955,328 |
| Unsecured Loans | 11,697,387 |
| Other Loans | 186,417,984 |
| TOTAL LOANS | 395,790,574 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,936,831 |
| Land And Building | 6,113,042 |
| Other Fixed Assets | 5,898,368 |
| NCUSIF Deposit | 3,860,878 |
| All Other Assets | 0 |
| TOTAL ASSETS | 479,063,265 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,189 |
| Notes & Interest Payable | 19,600,000 |
| Accounts Payable & Other Liabilities | 4,628,110 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 115,338,264 |
| Regular shares | 127,060,410 |
| All Other Shares & Deposits | 171,353,821 |
| TOTAL SHARES & DEPOSITS | 413,752,495 |
| TOTAL LIABILITIES | 438,009,426 |
| Regular Reserve | 0 |
| Other Reserves | -6,063,384 |
| Undivided Earnings | 47,117,223 |
| TOTAL EQUITY | 41,053,839 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 479,063,265 |
| INCOME & EXPENSE | |
| Loan Income | 16,365,018 |
| Investment Income | 1,664,865 |
| Other Income | 1,118,624 |
| Total Employee Compensation & Benefits | 7,090,591 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,868,480 |
| Non-operating Income & (Expense) | 11,536 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 746,351 |
| Cost of Funds | 4,217,893 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,562,016 |
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