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SOCIAL SECURITY CREDIT UNION (SSCU)

Mar, 31, 2021 — SOCIAL SECURITY CREDIT UNION (SSCU) is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 1 branch location and about $35.99 million in total assets. Opened 74 years ago in 1947, SOCIAL SECURITY CREDIT UNION (SSCU) has about 3,651 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOCIAL SECURITY CREDIT UNION
Address:
(Main Office)
PO BOX 937
BIRMINGHAM, AL 35201
Phone:(205) 323-7028
Fax:(205) 323-0117
Website:https://www.ssacu.com/
Branches:1 branch locations
Members:3,651
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:61391
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1947
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$35,992,772
CEO/Manager:Carolyn Y Simmons
Chairperson:Henry L Williams

Call Report

  • Overdraft Lines of Credit
  • Overdraft Protection
  • Real Estate Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 8,688,032
TOTAL INVESTMENTS 11,838,693
Loans Held for Sale 0
 
 Real Estate Loans 5,278,860
 Unsecured Loans 2,116,481
 Other Loans 7,808,544
 TOTAL LOANS 15,203,885
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -103,661
 Land And Building 0
 Other Fixed Assets 42,782
 NCUSIF Deposit 237,309
 All Other Assets 85,732
  TOTAL ASSETS 35,992,772
LIABILITIES & CAPITAL:  
 Dividends Payable 1,315
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 283,885
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 6,093,981
 Regular shares 18,931,853
 All Other Shares & Deposits 3,898,910
  TOTAL SHARES & DEPOSITS 28,924,744
  TOTAL LIABILITIES 29,209,944
 Regular Reserve 2,966,117
 Other Reserves 0
 Undivided Earnings 3,816,711
  TOTAL EQUITY 6,782,828
  TOTAL LIABILITIES, SHARES, & EQUITY 35,992,772
INCOME & EXPENSE  
 Loan Income 194,004
 Investment Income 56,588
 Other Income 39,045
 Total Employee Compensation & Benefits 175,860
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 129,470
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 12,441
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 11,614
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