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ELECTEL COOPERATIVE FEDERAL CREDIT UNION

Mar, 31, 2022 — ELECTEL COOPERATIVE FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 5 branch locations and about $62.69 million in total assets. Opened 53 years ago in 1969, ELECTEL COOPERATIVE FEDERAL CREDIT UNION has about 7,403 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:7,403
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$62,686,887
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 11,253,700
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 3,849,911
 Unsecured Loans 4,355,808
 Other Loans 22,241,856
 TOTAL LOANS 30,447,575
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -97,363
 Land And Building 0
 Other Fixed Assets 357,403
 NCUSIF Deposit 504,689
 All Other Assets 0
  TOTAL ASSETS 62,686,887
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 232,948
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 12,326,174
 Regular shares 23,013,253
 All Other Shares & Deposits 20,147,405
  TOTAL SHARES & DEPOSITS 55,486,832
  TOTAL LIABILITIES 55,719,780
 Regular Reserve 0
 Other Reserves 1,138,804
 Undivided Earnings 5,828,303
  TOTAL EQUITY 6,967,107
  TOTAL LIABILITIES, SHARES, & EQUITY 62,686,887
INCOME & EXPENSE  
 Loan Income 396,363
 Investment Income 9,521
 Other Income 34,466
 Total Employee Compensation & Benefits 286,696
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 262,808
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,100
 Cost of Funds 42,017
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -72,221
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