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PALMETTO FIRST FEDERAL CREDIT UNION

Jun, 30, 2021 — PALMETTO FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in Florence, SC with 2 branch locations and about $56.51 million in total assets. Opened 68 years ago in 1953, PALMETTO FIRST FEDERAL CREDIT UNION has about 6,270 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253278964
Name:PALMETTO FIRST FEDERAL CREDIT UNION
Address:
(Main Office)
PO Box 3989
Florence, SC 29502
Phone:(843) 669-5619
Fax:(843) 669-6931
Website:http://www.palmettofirst.com
Branches:2 branch locations
Members:6,270
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$56,507,780
CEO/Manager:Angela M Burr
Chairperson:Kathryn M Roach

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 21,899,950
TOTAL INVESTMENTS 4,973,588
Loans Held for Sale 0
 
 Real Estate Loans 4,383,580
 Unsecured Loans 6,585,257
 Other Loans 17,693,357
 TOTAL LOANS 28,662,194
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -472,068
 Land And Building 655,029
 Other Fixed Assets 109,499
 NCUSIF Deposit 419,171
 All Other Assets 260,417
  TOTAL ASSETS 56,507,780
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 161,713
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 12,356,361
 Regular shares 19,605,831
 All Other Shares & Deposits 15,954,668
  TOTAL SHARES & DEPOSITS 47,916,860
  TOTAL LIABILITIES 48,078,573
 Regular Reserve 100,825
 Other Reserves 0
 Undivided Earnings 8,328,382
  TOTAL EQUITY 8,429,207
  TOTAL LIABILITIES, SHARES, & EQUITY 56,507,780
INCOME & EXPENSE  
 Loan Income 1,068,771
 Investment Income 38,960
 Other Income 212,905
 Total Employee Compensation & Benefits 505,270
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 607,481
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 112,750
 Cost of Funds 32,574
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 305,346
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