Dec, 31, 2023 — CARO FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBIA, SC with 3 branch locations and about $123.83 million in total assets. Opened 57 years ago in 1967, CARO FEDERAL CREDIT UNION has about 7,616 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CARO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4480 Rosewood Dr COLUMBIA, SC 29209-2629 |
| Phone: | (803) 227-5555 |
| Fax: | (803) 227-5566 |
| Website: | https://www.smartcaro.org |
| Branches: | 3 branch locations |
| Members: | 7,616 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24404 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $123,828,957 |
| CEO/Manager: | Anne Shivers |
| Chairperson: | David Black |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,001,769 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 50,868,935 |
| Unsecured Loans | 5,883,414 |
| Other Loans | 30,354,610 |
| TOTAL LOANS | 87,351,787 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,003,172 |
| Land And Building | 3,282,749 |
| Other Fixed Assets | 452,246 |
| NCUSIF Deposit | 1,011,286 |
| All Other Assets | 145,270 |
| TOTAL ASSETS | 123,828,957 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12,387 |
| Notes & Interest Payable | 6,500,000 |
| Accounts Payable & Other Liabilities | 1,832,677 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,982,331 |
| Regular shares | 56,040,349 |
| All Other Shares & Deposits | 9,676,841 |
| TOTAL SHARES & DEPOSITS | 99,699,521 |
| TOTAL LIABILITIES | 108,044,585 |
| Regular Reserve | 0 |
| Other Reserves | 14,392 |
| Undivided Earnings | 15,769,980 |
| TOTAL EQUITY | 15,784,372 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 123,828,957 |
| INCOME & EXPENSE | |
| Loan Income | 5,101,906 |
| Investment Income | 420,796 |
| Other Income | 1,369,497 |
| Total Employee Compensation & Benefits | 2,307,694 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,638,396 |
| Non-operating Income & (Expense) | -24,829 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 220,525 |
| Cost of Funds | 406,284 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 917,519 |
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