Dec, 31, 2022 — CAROLINAS TELCO FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLOTTE, NC with 8 branch locations and about $598.20 million in total assets. Opened 44 years ago in 1979, CAROLINAS TELCO FEDERAL CREDIT UNION has about 32,887 members and employs 112 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CAROLINAS TELCO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 2821 Crisman St CHARLOTTE, NC 28208 |
| Phone: | (704) 391-5600 |
| Fax: | (704) 391-5648 |
| Website: | https://www.ctelco.org |
| Branches: | 8 branch locations |
| Members: | 32,887 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 23494 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1979 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $598,201,745 |
| CEO/Manager: | Chris Dickman |
| Chairperson: | Larry W Davis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,320,064 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 180,417,048 |
| Unsecured Loans | 45,263,491 |
| Other Loans | 122,194,684 |
| TOTAL LOANS | 347,875,223 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,052,465 |
| Land And Building | 3,601,489 |
| Other Fixed Assets | 700,021 |
| NCUSIF Deposit | 4,329,564 |
| All Other Assets | 134,868 |
| TOTAL ASSETS | 598,201,745 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 71,300,000 |
| Accounts Payable & Other Liabilities | 4,135,029 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 113,221,047 |
| Regular shares | 312,471,452 |
| All Other Shares & Deposits | 58,113,838 |
| TOTAL SHARES & DEPOSITS | 483,806,337 |
| TOTAL LIABILITIES | 559,241,366 |
| Regular Reserve | 0 |
| Other Reserves | -39,970,151 |
| Undivided Earnings | 78,930,530 |
| TOTAL EQUITY | 38,960,379 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 598,201,745 |
| INCOME & EXPENSE | |
| Loan Income | 10,041,034 |
| Investment Income | 3,163,135 |
| Other Income | 1,734,546 |
| Total Employee Compensation & Benefits | 7,046,781 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,945,749 |
| Non-operating Income & (Expense) | 3,092,783 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,211,270 |
| Cost of Funds | 1,477,465 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,021,600 |
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