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SHERCHEM FEDERAL CREDIT UNION

Mar, 31, 2021 — SHERCHEM FEDERAL CREDIT UNION is a federal credit union headquartered in ASHTABULA, OH with 1 branch location and about $3.31 million in total assets. Opened 51 years ago in 1970, SHERCHEM FEDERAL CREDIT UNION has about 478 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SHERCHEM FEDERAL CREDIT UNION
Address:
(Main Office)
2900 MIDDLE RD, P.O. BOX 310
ASHTABULA, OH 44004
Phone:(440) 994-1598
Fax:(440) 994-1950
Website:n/a
Branches:1 branch locations
Members:478
Credit Union Type:Federal Credit Union
Charter Number:19920
Membership Type:Manufacturing - Chemicals
Corporate Credit Union:No
Year Opened:1970
Last Audited:Sep 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$3,306,941
CEO/Manager:Marilyn H Pifer
Chairperson:George Ferl

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,193,141
TOTAL INVESTMENTS 473,056
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 31,313
 Other Loans 1,582,662
 TOTAL LOANS 1,613,975
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,103
 Land And Building 0
 Other Fixed Assets 917
 NCUSIF Deposit 21,340
 All Other Assets 6,615
  TOTAL ASSETS 3,306,941
LIABILITIES & CAPITAL:  
 Dividends Payable 647
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 7,155
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 2,821,102
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 2,821,102
  TOTAL LIABILITIES 2,828,904
 Regular Reserve 61,406
 Other Reserves 0
 Undivided Earnings 416,631
  TOTAL EQUITY 478,037
  TOTAL LIABILITIES, SHARES, & EQUITY 3,306,941
INCOME & EXPENSE  
 Loan Income 15,727
 Investment Income 1,773
 Other Income 544
 Total Employee Compensation & Benefits 10,897
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,638
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 647
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 882
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