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SPE FEDERAL CREDIT UNION

Dec, 31, 2023 — SPE FEDERAL CREDIT UNION is a federal credit union headquartered in STATE COLLEGE, PA with 4 branch locations and about $156.25 million in total assets. Opened 46 years ago in 1978, SPE FEDERAL CREDIT UNION has about 11,657 members and employs 32 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SPE FEDERAL CREDIT UNION
Address:
(Main Office)
650 Science Park Rd
STATE COLLEGE, PA 16803
Phone:(814) 237-5458
Fax:(814) 231-6607
Website:https://www.arizefcu.org
Branches:4 branch locations
Members:11,657
Credit Union Type:Federal Credit Union
Charter Number:24187
Membership Type:Community - Rural District
Corporate Credit Union:No
Year Opened:1978
Last Audited:Mar 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$156,247,065
CEO/Manager:Michael J Meier
Chairperson:Richard Harris

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,701,304
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 59,173,809
 Unsecured Loans 13,441,296
 Other Loans 29,273,962
 TOTAL LOANS 101,889,066
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -619,073
 Land And Building 7,103,914
 Other Fixed Assets 334,259
 NCUSIF Deposit 1,259,028
 All Other Assets 2,400
  TOTAL ASSETS 156,247,065
LIABILITIES & CAPITAL:  
 Dividends Payable 501
 Notes & Interest Payable 2,083,400
 Accounts Payable & Other Liabilities 883,442
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 2,000,000
 Share Drafts 39,368,503
 Regular shares 58,372,453
 All Other Shares & Deposits 45,603,828
  TOTAL SHARES & DEPOSITS 143,344,783
  TOTAL LIABILITIES 148,312,126
 Regular Reserve 0
 Other Reserves -1,576,555
 Undivided Earnings 9,511,494
  TOTAL EQUITY 7,934,939
  TOTAL LIABILITIES, SHARES, & EQUITY 156,247,065
INCOME & EXPENSE  
 Loan Income 5,968,983
 Investment Income 1,152,041
 Other Income 700,547
 Total Employee Compensation & Benefits 2,715,572
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,783,483
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 374,479
 Cost of Funds 1,590,822
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,283,147
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