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ELECTEL COOPERATIVE FEDERAL CREDIT UNION

Jun, 30, 2021 — ELECTEL COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 5 branch locations and about $59.10 million in total assets. Opened 52 years ago in 1969, ELECTEL COOPERATIVE FEDERAL CREDIT UNION has about 7,467 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:ELECTEL COOPERATIVE FEDERAL CREDIT UNION
Address:
(Main Office)
PO BOX 27306
RALEIGH, NC 27611
Phone:(800) 849-5600
Fax:(919) 876-8018
Website:http://www.electel.org
Branches:5 branch locations
Members:7,467
Credit Union Type:Federal Credit Union
Charter Number:24819
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1969
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$59,095,759
CEO/Manager:Scott Armstrong
Chairperson:Eddie Durham

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,572,447
TOTAL INVESTMENTS 19,287,715
Loans Held for Sale 0
 
 Real Estate Loans 4,030,270
 Unsecured Loans 4,708,125
 Other Loans 20,786,710
 TOTAL LOANS 29,525,105
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -91,492
 Land And Building 0
 Other Fixed Assets 419,322
 NCUSIF Deposit 471,056
 All Other Assets 911,606
  TOTAL ASSETS 59,095,759
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 268,753
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,008,668
 Regular shares 20,800,949
 All Other Shares & Deposits 19,930,794
  TOTAL SHARES & DEPOSITS 51,740,411
  TOTAL LIABILITIES 52,009,164
 Regular Reserve 1,138,804
 Other Reserves 0
 Undivided Earnings 5,947,791
  TOTAL EQUITY 7,086,595
  TOTAL LIABILITIES, SHARES, & EQUITY 59,095,759
INCOME & EXPENSE  
 Loan Income 793,906
 Investment Income 50,082
 Other Income 58,816
 Total Employee Compensation & Benefits 538,581
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 503,442
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 32,491
 Cost of Funds 101,816
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 8,660
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