Dec, 31, 2021 — HOPE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, MS with 23 branch locations and about $468.06 million in total assets. Opened 27 years ago in 1995, HOPE FEDERAL CREDIT UNION has about 34,586 members and employs 204 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOPE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4 Old River Pl JACKSON, MS 39202-3431 |
| Phone: | (601) 944-1100 |
| Fax: | (601) 944-0808 |
| Website: | https://hopecu.org |
| Branches: | 23 branch locations |
| Members: | 34,586 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24829 |
|---|---|
| Membership Type: | Multiple common bond - Primarily faith based |
| Corporate Credit Union: | No |
| Year Opened: | 1995 |
| Last Audited: | Dec 01, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $468,060,694 |
| CEO/Manager: | William Bynum |
| Chairperson: | Robert Gibbs |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 106,495,571 |
| TOTAL INVESTMENTS | 97,416,335 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 226,038,840 |
| Unsecured Loans | 4,491,626 |
| Other Loans | 22,596,828 |
| TOTAL LOANS | 254,273,386 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,706,272 |
| Land And Building | 10,327,507 |
| Other Fixed Assets | 1,400,048 |
| NCUSIF Deposit | 2,850,929 |
| All Other Assets | 4,003,190 |
| TOTAL ASSETS | 468,060,694 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 210,387 |
| Notes & Interest Payable | 31,445,750 |
| Accounts Payable & Other Liabilities | 10,981,527 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 50,472,549 |
| Share Drafts | 51,406,452 |
| Regular shares | 76,871,479 |
| All Other Shares & Deposits | 241,520,043 |
| TOTAL SHARES & DEPOSITS | 369,797,974 |
| TOTAL LIABILITIES | 462,908,187 |
| Regular Reserve | 0 |
| Other Reserves | -910,821 |
| Undivided Earnings | 6,063,328 |
| TOTAL EQUITY | 5,152,507 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 468,060,694 |
| INCOME & EXPENSE | |
| Loan Income | 13,284,499 |
| Investment Income | 799,716 |
| Other Income | 4,361,036 |
| Total Employee Compensation & Benefits | 9,292,916 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,466,171 |
| Non-operating Income & (Expense) | 5,035,302 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,414,780 |
| Cost of Funds | 3,554,894 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 241,742 |
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