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ELECTEL COOPERATIVE FEDERAL CREDIT UNION

Mar, 31, 2021 — ELECTEL COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 5 branch locations and about $58.75 million in total assets. Opened 52 years ago in 1969, ELECTEL COOPERATIVE FEDERAL CREDIT UNION has about 7,406 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)
PO BOX 27306
RALEIGH, NC 27611
Phone:(800) 849-5600
Fax:
Website:http://www.electel.org
Branches:5 branch locations
Members:7,406
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, 2019
FHLB Member:No
Low Income Designation:No
Assets:$58,747,806
CEO/Manager:Scott Armstrong
Chairperson:Dick Mabbott

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Health Savings Accounts
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,341,845
TOTAL INVESTMENTS 21,291,715
Loans Held for Sale 0
 
 Real Estate Loans 4,016,011
 Unsecured Loans 4,583,791
 Other Loans 20,632,330
 TOTAL LOANS 29,232,132
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -99,193
 Land And Building 0
 Other Fixed Assets 441,638
 NCUSIF Deposit 457,945
 All Other Assets 1,081,724
  TOTAL ASSETS 58,747,806
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 285,621
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 11,767,645
 Regular shares 20,194,403
 All Other Shares & Deposits 19,398,536
  TOTAL SHARES & DEPOSITS 51,360,584
  TOTAL LIABILITIES 51,646,205
 Regular Reserve 1,138,804
 Other Reserves 0
 Undivided Earnings 5,962,797
  TOTAL EQUITY 7,101,601
  TOTAL LIABILITIES, SHARES, & EQUITY 58,747,806
INCOME & EXPENSE  
 Loan Income 394,868
 Investment Income 27,566
 Other Income 29,227
 Total Employee Compensation & Benefits 263,861
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 253,699
 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 52,678
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 23,666
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