Jun, 30, 2024 — CARO FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBIA, SC with 3 branch locations and about $122.65 million in total assets. Opened 58 years ago in 1967, CARO FEDERAL CREDIT UNION has about 8,004 members and employs 20 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: | 8,004 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $122,648,192 |
| CEO/Manager: | Anne Shivers |
| Chairperson: | David Black |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,702,178 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 45,744,883 |
| Unsecured Loans | 6,207,929 |
| Other Loans | 29,549,761 |
| TOTAL LOANS | 81,564,155 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -831,017 |
| Land And Building | 2,955,173 |
| Other Fixed Assets | 344,461 |
| NCUSIF Deposit | 1,022,563 |
| All Other Assets | 23,560 |
| TOTAL ASSETS | 122,648,192 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 690 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -41,167 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,490,279 |
| Regular shares | 67,175,689 |
| All Other Shares & Deposits | 7,695,937 |
| TOTAL SHARES & DEPOSITS | 108,361,905 |
| TOTAL LIABILITIES | 108,321,428 |
| Regular Reserve | 0 |
| Other Reserves | -959,254 |
| Undivided Earnings | 15,286,018 |
| TOTAL EQUITY | 14,326,764 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 122,648,192 |
| INCOME & EXPENSE | |
| Loan Income | 2,742,382 |
| Investment Income | 288,308 |
| Other Income | 824,530 |
| Total Employee Compensation & Benefits | 1,426,349 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,223,787 |
| Non-operating Income & (Expense) | 60,051 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 84,455 |
| Cost of Funds | 68,790 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 571,699 |
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