Dec, 31, 2023 — GEORGETOWN KRAFT CREDIT UNION is a federally insured state chartered credit union headquartered in GEORGETOWN, SC with 5 branch locations and about $174.36 million in total assets. Opened 72 years ago in 1952, GEORGETOWN KRAFT CREDIT UNION has about 16,371 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GEORGETOWN KRAFT CREDIT UNION |
|---|---|
| Address: (Main Office) | 1379 N Fraser St GEORGETOWN, SC 29440-2825 |
| Phone: | (843) 546-8494 |
| Fax: | (843) 546-0029 |
| Website: | https://www.gkcu.org |
| Branches: | 5 branch locations |
| Members: | 16,371 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60791 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Nov 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $174,361,942 |
| CEO/Manager: | Kevin D Owens |
| Chairperson: | James T Bessant |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 27,246,645 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 15,995,065 |
| Unsecured Loans | 12,192,141 |
| Other Loans | 80,299,344 |
| TOTAL LOANS | 108,486,550 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,588,876 |
| Land And Building | 6,842,987 |
| Other Fixed Assets | 225,909 |
| NCUSIF Deposit | 1,491,941 |
| All Other Assets | 129,659 |
| TOTAL ASSETS | 174,361,942 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 80,236 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,013,554 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 39,288,484 |
| Regular shares | 74,283,552 |
| All Other Shares & Deposits | 33,585,628 |
| TOTAL SHARES & DEPOSITS | 147,157,664 |
| TOTAL LIABILITIES | 149,251,454 |
| Regular Reserve | 0 |
| Other Reserves | -2,546,423 |
| Undivided Earnings | 27,656,911 |
| TOTAL EQUITY | 25,110,488 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 174,361,942 |
| INCOME & EXPENSE | |
| Loan Income | 7,188,286 |
| Investment Income | 1,693,360 |
| Other Income | 4,145,479 |
| Total Employee Compensation & Benefits | 4,689,338 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,274,524 |
| Non-operating Income & (Expense) | -51,208 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 941,787 |
| Cost of Funds | 673,442 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,578,464 |
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