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HSM FEDERAL CREDIT UNION

Dec, 31, 2021 — HSM FEDERAL CREDIT UNION is a federal credit union headquartered in HICKORY, NC with 1 branch location and about $5.62 million in total assets. Opened 45 years ago in 1977, HSM FEDERAL CREDIT UNION has about 2,164 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:HSM FEDERAL CREDIT UNION
Address:
(Main Office)
235 2ND AVE NW
HICKORY, NC 28601
Phone:(828) 328-2201
Fax:(828) 322-4914
Website:http://www.hsmfcu.org
Branches:1 branch locations
Members:2,164
Credit Union Type:Federal Credit Union
Charter Number:22740
Membership Type:Manufacturing - All Other
Corporate Credit Union:No
Year Opened:1977
Last Audited:May 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$5,624,651
CEO/Manager:LORI G NORRIS
Chairperson:BENNY HARRIS

Call Report

  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 750,446
TOTAL INVESTMENTS 1,228,126
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,258,446
 Other Loans 2,368,288
 TOTAL LOANS 3,626,734
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -42,682
 Land And Building 0
 Other Fixed Assets 441
 NCUSIF Deposit 44,016
 All Other Assets 17,570
  TOTAL ASSETS 5,624,651
LIABILITIES & CAPITAL:  
 Dividends Payable 1,639
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 144,181
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 705,891
 Regular shares 3,422,313
 All Other Shares & Deposits 585,461
  TOTAL SHARES & DEPOSITS 4,713,665
  TOTAL LIABILITIES 4,859,485
 Regular Reserve 53,802
 Other Reserves 0
 Undivided Earnings 711,364
  TOTAL EQUITY 765,166
  TOTAL LIABILITIES, SHARES, & EQUITY 5,624,651
INCOME & EXPENSE  
 Loan Income 254,006
 Investment Income 3,947
 Other Income 193,273
 Total Employee Compensation & Benefits 263,299
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 205,965
 Non-operating Income & (Expense) 4,854
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -29,510
 Cost of Funds 4,842
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 95,967
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