Sep, 30, 2025 — PALMETTO FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in FLORENCE, SC with 2 branch locations and about $62.96 million in total assets. Opened 73 years ago in 1953, PALMETTO FIRST FEDERAL CREDIT UNION has about 6,409 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | PALMETTO FIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1722 Gregg Ave FLORENCE, SC 29501 |
| Phone: | (843) 669-5619 |
| Fax: | (843) 669-6931 |
| Website: | https://www.palmettofirst.com |
| Branches: | 2 branch locations |
| Members: | 6,409 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24491 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Sep 01, 2024 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $62,957,984 |
| CEO/Manager: | Angela Burr |
| Chairperson: | Kathryn M Roach |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,875,475 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,167,576 |
| Unsecured Loans | 8,396,629 |
| Other Loans | 27,715,604 |
| TOTAL LOANS | 40,279,809 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -738,949 |
| Land And Building | 515,829 |
| Other Fixed Assets | 71,358 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 436,814 |
| All Other Assets | 16,164 |
| TOTAL ASSETS | 62,957,984 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 163,487 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,783,951 |
| Regular shares | 20,126,229 |
| All Other Shares & Deposits | 15,275,330 |
| TOTAL SHARES & DEPOSITS | 50,185,510 |
| TOTAL LIABILITIES | 50,348,997 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 12,608,987 |
| TOTAL EQUITY | 12,608,987 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 62,957,984 |
| INCOME & EXPENSE | |
| Loan Income | 2,435,277 |
| Investment Income | 483,171 |
| Other Income | 388,216 |
| Total Employee Compensation & Benefits | 971,605 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 1,151,944 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 291,900 |
| Cost of Funds | 396,652 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 886,851 |
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