Dec, 31, 2023 — HOPESOUTH FEDERAL CREDIT UNION is a federal credit union headquartered in ABBEVILLE, SC with 2 branch locations and about $32.56 million in total assets. Opened 53 years ago in 1971, HOPESOUTH FEDERAL CREDIT UNION has about 3,527 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOPESOUTH FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 807 W Greenwood St ABBEVILLE, SC 29620-2552 |
| Phone: | (864) 366-9602 |
| Fax: | (864) 366-8318 |
| Website: | https://www.hopesouth.org |
| Branches: | 2 branch locations |
| Members: | 3,527 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20824 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1971 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $32,559,084 |
| CEO/Manager: | Faye Crocker |
| Chairperson: | Shannon Sears |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,314,241 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 3,812,927 |
| Other Loans | 10,509,234 |
| TOTAL LOANS | 14,322,161 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -302,736 |
| Land And Building | 506,693 |
| Other Fixed Assets | 32,496 |
| NCUSIF Deposit | 230,196 |
| All Other Assets | 21,297 |
| TOTAL ASSETS | 32,559,084 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 25,982 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 188,906 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,883,141 |
| Regular shares | 13,117,471 |
| All Other Shares & Deposits | 5,921,257 |
| TOTAL SHARES & DEPOSITS | 23,921,870 |
| TOTAL LIABILITIES | 24,136,758 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 8,422,326 |
| TOTAL EQUITY | 8,422,326 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 32,559,084 |
| INCOME & EXPENSE | |
| Loan Income | 1,421,544 |
| Investment Income | 717,235 |
| Other Income | 298,469 |
| Total Employee Compensation & Benefits | 729,616 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,074,486 |
| Non-operating Income & (Expense) | 555,742 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 206,443 |
| Cost of Funds | 123,321 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,219,883 |
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