Dec, 31, 2023 — CAROLINA COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLOTTE, NC with 3 branch locations and about $53.16 million in total assets. Opened 62 years ago in 1962, CAROLINA COOPERATIVE FEDERAL CREDIT UNION has about 10,266 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: | CAROLINA COOPERATIVE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 6502 McMahan Dr CHARLOTTE, NC 28226 |
| Phone: | (704) 543-8901 |
| Fax: | (704) 543-6931 |
| Website: | https://www.carolinacu.com |
| Branches: | 3 branch locations |
| Members: | 10,266 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24801 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $53,161,830 |
| CEO/Manager: | Ashley Hill |
| Chairperson: | Rachel L Dover |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,406,728 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,857,799 |
| Unsecured Loans | 2,940,301 |
| Other Loans | 34,809,207 |
| TOTAL LOANS | 41,607,307 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -455,274 |
| Land And Building | 1,251,997 |
| Other Fixed Assets | 21,501 |
| NCUSIF Deposit | 499,878 |
| All Other Assets | 0 |
| TOTAL ASSETS | 53,161,830 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 681,796 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,538,120 |
| Regular shares | 19,348,662 |
| All Other Shares & Deposits | 19,010,642 |
| TOTAL SHARES & DEPOSITS | 45,897,423 |
| TOTAL LIABILITIES | 46,579,219 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 6,582,611 |
| TOTAL EQUITY | 6,582,611 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 53,161,830 |
| INCOME & EXPENSE | |
| Loan Income | 1,765,640 |
| Investment Income | 204,417 |
| Other Income | 1,084,373 |
| Total Employee Compensation & Benefits | 958,924 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,407,016 |
| Non-operating Income & (Expense) | 13,627 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 70,571 |
| Cost of Funds | 512,381 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 244,245 |
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