Sep, 30, 2025 — CAROLINA FEDERAL CREDIT UNION is a federal credit union headquartered in CHERRYVILLE, NC with 1 branch location and about $81.88 million in total assets. Opened 57 years ago in 1969, CAROLINA FEDERAL CREDIT UNION has about 7,393 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CAROLINA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1200 E Church St CHERRYVILLE, NC 28021-9211 |
| Phone: | (704) 435-0186 |
| Fax: | (704) 435-8061 |
| Website: | https://www.carolinafcu.org |
| Branches: | 1 branch locations |
| Members: | 7,393 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19788 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $81,878,397 |
| CEO/Manager: | Donna Beringer |
| Chairperson: | Jason Raines |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 13,089,312 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,439,553 |
| Unsecured Loans | 2,852,285 |
| Other Loans | 45,316,908 |
| TOTAL LOANS | 57,608,746 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -566,986 |
| Land And Building | 922,035 |
| Other Fixed Assets | 161,576 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 609,676 |
| All Other Assets | 104,178 |
| TOTAL ASSETS | 81,878,397 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,109,732 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,959,618 |
| Regular shares | 18,640,968 |
| All Other Shares & Deposits | 44,556,222 |
| TOTAL SHARES & DEPOSITS | 72,156,808 |
| TOTAL LIABILITIES | 73,266,540 |
| Regular Reserve | 0 |
| Other Reserves | 5,192 |
| Undivided Earnings | 8,606,665 |
| TOTAL EQUITY | 8,611,857 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 81,878,397 |
| INCOME & EXPENSE | |
| Loan Income | 2,944,190 |
| Investment Income | 760,285 |
| Other Income | 270,036 |
| Total Employee Compensation & Benefits | 1,228,033 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,361,880 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 259,500 |
| Cost of Funds | 1,183,823 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 633,225 |
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