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HSM FEDERAL CREDIT UNION

Jun, 30, 2024 — HSM FEDERAL CREDIT UNION is a federal credit union headquartered in HICKORY, NC with 1 branch location and about $5.52 million in total assets. Opened 47 years ago in 1977, HSM FEDERAL CREDIT UNION has about 2,199 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:https://www.hsmfcu.org
Branches:1 branch locations
Members:2,199
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, 2022
FHLB Member:No
Low Income Designation:No
Assets:$5,517,515
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 143,276
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 1,265,841
 Other Loans 3,033,857
 TOTAL LOANS 4,299,698
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -41,466
 Land And Building 0
 Other Fixed Assets 13,380
 NCUSIF Deposit 47,137
 All Other Assets 0
  TOTAL ASSETS 5,517,515
LIABILITIES & CAPITAL:  
 Dividends Payable 2,560
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 124,559
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 705,861
 Regular shares 3,303,233
 All Other Shares & Deposits 597,356
  TOTAL SHARES & DEPOSITS 4,606,450
  TOTAL LIABILITIES 4,733,569
 Regular Reserve 0
 Other Reserves 53,800
 Undivided Earnings 730,146
  TOTAL EQUITY 783,946
  TOTAL LIABILITIES, SHARES, & EQUITY 5,517,515
INCOME & EXPENSE  
 Loan Income 195,513
 Investment Income 6,121
 Other Income 174,481
 Total Employee Compensation & Benefits 191,464
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 174,003
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 47,600
 Cost of Funds 5,290
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 18,781
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