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CAROLINA FEDERAL CREDIT UNION

Sep, 30, 2021 — CAROLINA FEDERAL CREDIT UNION is a federal credit union headquartered in CHERRYVILLE, NC with 1 branch location and about $65.09 million in total assets. Opened 53 years ago in 1969, CAROLINA FEDERAL CREDIT UNION has about 6,999 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253175397
Name:CAROLINA FEDERAL CREDIT UNION
Address:
(Main Office)
1200 E CHURCH STREET
CHERRYVILLE, NC 28021
Phone:(704) 435-0186
Fax:(704) 435-8061
Website:http://www.carolinafcu.org
Branches:1 branch locations
Members:6,999
Credit Union Type:Federal Credit Union
Charter Number:19788
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1969
Last Audited:Jun 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$65,088,323
CEO/Manager:Donna Beringer
Chairperson:Patsy Irvin

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 16,751,511
TOTAL INVESTMENTS 1,031,040
Loans Held for Sale 0
 
 Real Estate Loans 5,184,348
 Unsecured Loans 2,444,675
 Other Loans 36,283,546
 TOTAL LOANS 43,912,569
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -365,446
 Land And Building 1,223,952
 Other Fixed Assets 93,553
 NCUSIF Deposit 482,317
 All Other Assets 1,958,827
  TOTAL ASSETS 65,088,323
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 537,713
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,090,746
 Regular shares 20,657,245
 All Other Shares & Deposits 31,693,435
  TOTAL SHARES & DEPOSITS 58,441,426
  TOTAL LIABILITIES 58,979,139
 Regular Reserve 720,055
 Other Reserves 3,936
 Undivided Earnings 5,385,193
  TOTAL EQUITY 6,109,184
  TOTAL LIABILITIES, SHARES, & EQUITY 65,088,323
INCOME & EXPENSE  
 Loan Income 1,735,082
 Investment Income 27,805
 Other Income 245,253
 Total Employee Compensation & Benefits 700,194
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,041,750
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,619
 Cost of Funds 333,998
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 533,824
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