Mar, 31, 2021 — HOPE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, MS with 23 branch locations and about $472.15 million in total assets. Opened 26 years ago in 1995, HOPE FEDERAL CREDIT UNION has about 34,708 members and employs 196 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: | 34,708 |
| 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: | $472,145,796 |
| CEO/Manager: | William Bynum |
| Chairperson: | Robert Gibbs |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 162,112,435 |
| TOTAL INVESTMENTS | 43,713,352 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 220,002,539 |
| Unsecured Loans | 4,128,214 |
| Other Loans | 26,954,635 |
| TOTAL LOANS | 252,057,710 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,230,723 |
| Land And Building | 10,553,120 |
| Other Fixed Assets | 1,447,706 |
| NCUSIF Deposit | 2,458,629 |
| All Other Assets | 7,033,567 |
| TOTAL ASSETS | 472,145,796 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 386,331 |
| Notes & Interest Payable | 70,940,986 |
| Accounts Payable & Other Liabilities | 5,740,450 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 31,946,774 |
| Share Drafts | 65,051,244 |
| Regular shares | 78,089,903 |
| All Other Shares & Deposits | 214,038,799 |
| TOTAL SHARES & DEPOSITS | 357,179,946 |
| TOTAL LIABILITIES | 466,194,487 |
| Regular Reserve | 0 |
| Other Reserves | 67,935 |
| Undivided Earnings | 5,883,374 |
| TOTAL EQUITY | 5,951,309 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 472,145,796 |
| INCOME & EXPENSE | |
| Loan Income | 3,100,942 |
| Investment Income | 129,633 |
| Other Income | 941,636 |
| Total Employee Compensation & Benefits | 2,194,879 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,539,352 |
| Non-operating Income & (Expense) | 849,756 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 930,526 |
| Cost of Funds | 960,676 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 61,788 |
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