Dec, 31, 2023 — RESOURCE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, TN with 2 branch locations and about $50.46 million in total assets. Opened 61 years ago in 1963, RESOURCE FEDERAL CREDIT UNION has about 4,108 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | RESOURCE FEDERAL CREDIT UNION |
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Address: (Main Office) | 525 Old Hickory Blvd JACKSON, TN 38305 |
Phone: | (731) 668-3464 |
Fax: | (731) 668-5573 |
Website: | https://resourcefcu.com |
Branches: | 2 branch locations |
Members: | 4,108 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24575 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1963 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $50,455,853 |
CEO/Manager: | Davida Barker |
Chairperson: | Karen Ashley |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,639,447 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 1,030,136 |
Unsecured Loans | 1,348,187 |
Other Loans | 10,670,456 |
TOTAL LOANS | 13,048,779 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -25,338 |
Land And Building | 358,588 |
Other Fixed Assets | 33,604 |
NCUSIF Deposit | 472,259 |
All Other Assets | 0 |
TOTAL ASSETS | 50,455,853 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 15,704 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 178,843 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 12,841,721 |
Regular shares | 28,731,128 |
All Other Shares & Deposits | 4,143,358 |
TOTAL SHARES & DEPOSITS | 45,716,207 |
TOTAL LIABILITIES | 45,910,754 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 4,545,099 |
TOTAL EQUITY | 4,545,099 |
TOTAL LIABILITIES, SHARES, & EQUITY | 50,455,853 |
INCOME & EXPENSE | |
Loan Income | 686,571 |
Investment Income | 801,302 |
Other Income | 614,693 |
Total Employee Compensation & Benefits | 705,908 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 921,823 |
Non-operating Income & (Expense) | -21,945 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,453 |
Cost of Funds | 63,969 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 417,891 |
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