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CAROLINAS TELCO FEDERAL CREDIT UNION

Mar, 31, 2021 — CAROLINAS TELCO FEDERAL CREDIT UNION is a federal credit union headquartered in Charlotte, NC with 9 branch locations and about $568.74 million in total assets. Opened 42 years ago in 1979, CAROLINAS TELCO FEDERAL CREDIT UNION has about 31,616 members and employs 101 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253074977
Name:CAROLINAS TELCO FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 668467
Charlotte, NC 28266-8467
Phone:(704) 391-5600
Fax:(704) 391-5648
Website:http://www.ctelco.org
Branches:9 branch locations
Members:31,616
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$568,743,831
CEO/Manager:Chris Dickman
Chairperson:Larry W Davis

Call Report

  • Credit Builder
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • Insurance/Investment Sales
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,566,753
TOTAL INVESTMENTS 255,156,817
Loans Held for Sale 0
 
 Real Estate Loans 125,701,418
 Unsecured Loans 29,057,585
 Other Loans 117,539,080
 TOTAL LOANS 291,738,430
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -985,637
 Land And Building 3,859,079
 Other Fixed Assets 976,108
 NCUSIF Deposit 3,780,700
 All Other Assets 4,651,581
  TOTAL ASSETS 568,743,831
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 50,000,000
 Accounts Payable & Other Liabilities 2,909,296
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 100,475,290
 Regular shares 280,490,893
 All Other Shares & Deposits 63,657,313
  TOTAL SHARES & DEPOSITS 444,623,496
  TOTAL LIABILITIES 497,532,792
 Regular Reserve 11,222,510
 Other Reserves -1,778,927
 Undivided Earnings 61,767,456
  TOTAL EQUITY 71,211,039
  TOTAL LIABILITIES, SHARES, & EQUITY 568,743,831
INCOME & EXPENSE  
 Loan Income 3,248,810
 Investment Income 559,356
 Other Income 262,340
 Total Employee Compensation & Benefits 1,892,743
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,974,049
 Non-operating Income & (Expense) 125,489
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 83,678
 Cost of Funds 432,579
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 603,723
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