Dec, 31, 2023 — BEST REWARD FEDERAL CREDIT UNION is a federal credit union headquartered in BROOK PARK, OH with 4 branch locations and about $164.24 million in total assets. Opened 75 years ago in 1949, BEST REWARD FEDERAL CREDIT UNION has about 12,512 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEST REWARD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 5681 Smith Rd BROOK PARK, OH 44142 |
| Phone: | (216) 367-8000 |
| Fax: | (216) 367-8001 |
| Website: | https://www.bestrewardfcu.coop |
| Branches: | 4 branch locations |
| Members: | 12,512 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24920 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1949 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $164,244,049 |
| CEO/Manager: | John J Shirilla |
| Chairperson: | Norman L Alford |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,558,934 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 8,717,057 |
| Unsecured Loans | 3,564,386 |
| Other Loans | 20,022,784 |
| TOTAL LOANS | 32,304,227 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -230,913 |
| Land And Building | 1,612,587 |
| Other Fixed Assets | 105,600 |
| NCUSIF Deposit | 1,233,342 |
| All Other Assets | 0 |
| TOTAL ASSETS | 164,244,049 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 7,681 |
| Notes & Interest Payable | 27,500,000 |
| Accounts Payable & Other Liabilities | 1,967,133 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,974,815 |
| Regular shares | 73,338,221 |
| All Other Shares & Deposits | 28,699,626 |
| TOTAL SHARES & DEPOSITS | 124,012,662 |
| TOTAL LIABILITIES | 153,487,476 |
| Regular Reserve | 0 |
| Other Reserves | -10,044,865 |
| Undivided Earnings | 20,801,438 |
| TOTAL EQUITY | 10,756,573 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 164,244,049 |
| INCOME & EXPENSE | |
| Loan Income | 1,882,478 |
| Investment Income | 3,482,824 |
| Other Income | 390,032 |
| Total Employee Compensation & Benefits | 1,874,571 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,075,075 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 22,847 |
| Cost of Funds | 1,836,678 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 448,558 |
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