Dec, 31, 2023 — SELECT SEVEN FEDERAL CREDIT UNION is a federal credit union headquartered in JOHNSON CITY, TN with 4 branch locations and about $56.56 million in total assets. Opened 75 years ago in 1949, SELECT SEVEN FEDERAL CREDIT UNION has about 5,833 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: | SELECT SEVEN FEDERAL CREDIT UNION |
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Address: (Main Office) | 333 E Main St JOHNSON CITY, TN 37601 |
Phone: | (423) 282-0671 |
Fax: | (423) 282-9439 |
Website: | https://www.selectsevencu.org |
Branches: | 4 branch locations |
Members: | 5,833 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 6079 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1949 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $56,557,367 |
CEO/Manager: | Kevin Jones |
Chairperson: | Lester Lattany |
ASSETS: | $ Amount |
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Cash & Equivalents | 4,302,187 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 17,491,790 |
Unsecured Loans | 2,689,643 |
Other Loans | 28,009,423 |
TOTAL LOANS | 48,190,856 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -309,469 |
Land And Building | 2,451,974 |
Other Fixed Assets | 56,755 |
NCUSIF Deposit | 486,276 |
All Other Assets | 16,075 |
TOTAL ASSETS | 56,557,367 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,356 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 808,852 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,193,237 |
Regular shares | 20,579,958 |
All Other Shares & Deposits | 19,213,820 |
TOTAL SHARES & DEPOSITS | 48,987,015 |
TOTAL LIABILITIES | 49,797,223 |
Regular Reserve | 0 |
Other Reserves | 89 |
Undivided Earnings | 6,760,055 |
TOTAL EQUITY | 6,760,144 |
TOTAL LIABILITIES, SHARES, & EQUITY | 56,557,367 |
INCOME & EXPENSE | |
Loan Income | 2,219,475 |
Investment Income | 158,185 |
Other Income | 776,024 |
Total Employee Compensation & Benefits | 1,111,497 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,139,881 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
Cost of Funds | 496,191 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 527,463 |
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» See also Statement of Financial Condition