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SELECT SEVEN FEDERAL CREDIT UNION

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
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
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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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