Jun, 30, 2024 — PALMETTO FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in FLORENCE, SC with 2 branch locations and about $60.05 million in total assets. Opened 72 years ago in 1953, PALMETTO FIRST FEDERAL CREDIT UNION has about 6,264 members and employs 16 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: | 6,264 |
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $60,052,581 |
| CEO/Manager: | Angela M Burr |
| Chairperson: | Kathryn M Roach |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,760,123 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,988,744 |
| Unsecured Loans | 7,249,066 |
| Other Loans | 22,376,053 |
| TOTAL LOANS | 33,613,863 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -420,440 |
| Land And Building | 598,279 |
| Other Fixed Assets | 67,294 |
| NCUSIF Deposit | 456,719 |
| All Other Assets | 16,164 |
| TOTAL ASSETS | 60,052,581 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 196,513 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,310,395 |
| Regular shares | 19,396,111 |
| All Other Shares & Deposits | 16,755,772 |
| TOTAL SHARES & DEPOSITS | 50,462,278 |
| TOTAL LIABILITIES | 50,658,791 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 9,393,790 |
| TOTAL EQUITY | 9,393,790 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 60,052,581 |
| INCOME & EXPENSE | |
| Loan Income | 1,692,358 |
| Investment Income | 189,735 |
| Other Income | 372,359 |
| Total Employee Compensation & Benefits | 816,505 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 996,528 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 155,650 |
| Cost of Funds | 34,220 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 624,234 |
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