Dec, 31, 2023 — SHUFORD FEDERAL CREDIT UNION is a federal credit union headquartered in HICKORY, NC with 2 branch locations and about $31.55 million in total assets. Opened 57 years ago in 1967, SHUFORD FEDERAL CREDIT UNION has about 4,415 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SHUFORD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 882 16th St NE HICKORY, NC 28601 |
| Phone: | (828) 568-1234 |
| Fax: | (828) 568-1235 |
| Website: | https://www.shufordcu.org |
| Branches: | 2 branch locations |
| Members: | 4,415 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24811 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $31,554,260 |
| CEO/Manager: | Jerry Gaillard |
| Chairperson: | Bruce Blackburn |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,047,826 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 13,329,795 |
| Unsecured Loans | 601,591 |
| Other Loans | 9,406,346 |
| TOTAL LOANS | 23,337,732 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -148,655 |
| Land And Building | 754,110 |
| Other Fixed Assets | 81,989 |
| NCUSIF Deposit | 277,769 |
| All Other Assets | 0 |
| TOTAL ASSETS | 31,554,260 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 32,326 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 102,891 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 4,440,871 |
| Regular shares | 11,043,659 |
| All Other Shares & Deposits | 12,215,663 |
| TOTAL SHARES & DEPOSITS | 27,700,192 |
| TOTAL LIABILITIES | 27,835,409 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,718,851 |
| TOTAL EQUITY | 3,718,851 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 31,554,260 |
| INCOME & EXPENSE | |
| Loan Income | 1,444,243 |
| Investment Income | 319,095 |
| Other Income | 204,855 |
| Total Employee Compensation & Benefits | 697,259 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 837,119 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 26,210 |
| Cost of Funds | 153,407 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 473,929 |
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