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SHUFORD FEDERAL CREDIT UNION

Sep, 30, 2022 — SHUFORD FEDERAL CREDIT UNION is a federal credit union headquartered in HICKORY, NC with 2 branch locations and about $32.98 million in total assets. Opened 56 years ago in 1967, SHUFORD FEDERAL CREDIT UNION has about 4,446 members and employs 7 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:4,446
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$32,984,792
CEO/Manager:Jerry Gaillard
Chairperson:Bruce Blackburn

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,198,603
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 10,527,265
 Unsecured Loans 497,080
 Other Loans 7,231,755
 TOTAL LOANS 18,256,100
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -40,443
 Land And Building 780,088
 Other Fixed Assets 75,628
 NCUSIF Deposit 282,508
 All Other Assets 0
  TOTAL ASSETS 32,984,792
LIABILITIES & CAPITAL:  
 Dividends Payable 33,750
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 140,813
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 4,628,552
 Regular shares 10,295,279
 All Other Shares & Deposits 14,666,694
  TOTAL SHARES & DEPOSITS 29,590,525
  TOTAL LIABILITIES 29,765,088
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 3,219,704
  TOTAL EQUITY 3,219,704
  TOTAL LIABILITIES, SHARES, & EQUITY 32,984,792
INCOME & EXPENSE  
 Loan Income 783,874
 Investment Income 85,592
 Other Income 142,183
 Total Employee Compensation & Benefits 440,958
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 583,701
 Non-operating Income & (Expense) 12,059
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,905
 Cost of Funds 49,641
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 111,273
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