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ELECTEL COOPERATIVE FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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