Dec, 31, 2021 — ELECTEL COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 5 branch locations and about $60.90 million in total assets. Opened 53 years ago in 1969, ELECTEL COOPERATIVE FEDERAL CREDIT UNION has about 7,306 members and employs 12 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 |
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Address: (Main Office) | 3400 Sumner Blvd RALEIGH, NC 27616 |
Phone: | (800) 849-5600 |
Fax: | (919) 876-8018 |
Website: | http://www.electel.org |
Branches: | 5 branch locations |
Members: | 7,306 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 24819 |
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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: | $60,898,821 |
CEO/Manager: | Scott Armstrong |
Chairperson: | Eddie Durham |
ASSETS: | $ Amount |
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Cash & Equivalents | 12,002,885 |
TOTAL INVESTMENTS | 17,288,715 |
Loans Held for Sale | 0 |
Real Estate Loans | 3,888,583 |
Unsecured Loans | 4,744,122 |
Other Loans | 21,833,148 |
TOTAL LOANS | 30,465,853 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -84,755 |
Land And Building | 0 |
Other Fixed Assets | 375,959 |
NCUSIF Deposit | 504,689 |
All Other Assets | 345,475 |
TOTAL ASSETS | 60,898,821 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 345,457 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 11,655,188 |
Regular shares | 21,807,972 |
All Other Shares & Deposits | 20,050,876 |
TOTAL SHARES & DEPOSITS | 53,514,036 |
TOTAL LIABILITIES | 53,859,493 |
Regular Reserve | 1,138,804 |
Other Reserves | 0 |
Undivided Earnings | 5,900,524 |
TOTAL EQUITY | 7,039,328 |
TOTAL LIABILITIES, SHARES, & EQUITY | 60,898,821 |
INCOME & EXPENSE | |
Loan Income | 1,606,836 |
Investment Income | 98,803 |
Other Income | 126,977 |
Total Employee Compensation & Benefits | 1,140,126 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,105,564 |
Non-operating Income & (Expense) | 47,751 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 37,724 |
Cost of Funds | 192,620 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -38,606 |
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