Dec, 31, 2023 — REDEEMER FEDERAL CREDIT UNION is a federal credit union headquartered in PLANO, TX with 1 branch location and about $6.59 million in total assets. Opened 9 years ago in 2015, REDEEMER FEDERAL CREDIT UNION has about 1,005 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | REDEEMER FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4160 W Spring Creek Pkwy PLANO, TX 75024 |
| Phone: | (903) 213-6010 |
| Fax: | (903) 900-4663 |
| Website: | https://www.redeemerfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,005 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24867 |
|---|---|
| Membership Type: | Associational - Religious, other than those designated 'low-income' |
| Corporate Credit Union: | No |
| Year Opened: | 2015 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,591,716 |
| CEO/Manager: | Ayodele Adenugba |
| Chairperson: | Olugbenga J Kuye |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,830,427 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 362,888 |
| Other Loans | 1,603,430 |
| TOTAL LOANS | 1,966,319 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -83,024 |
| Land And Building | 0 |
| Other Fixed Assets | 58,481 |
| NCUSIF Deposit | 34,302 |
| All Other Assets | 28,654 |
| TOTAL ASSETS | 6,591,716 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 68,084 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,338,298 |
| All Other Shares & Deposits | 591,040 |
| TOTAL SHARES & DEPOSITS | 4,929,338 |
| TOTAL LIABILITIES | 4,997,422 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,594,294 |
| TOTAL EQUITY | 1,594,294 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,591,716 |
| INCOME & EXPENSE | |
| Loan Income | 200,397 |
| Investment Income | 191,023 |
| Other Income | 41,832 |
| Total Employee Compensation & Benefits | 44,632 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 112,401 |
| Non-operating Income & (Expense) | 1,847 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 169,163 |
| Cost of Funds | 12,665 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 96,238 |
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