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National Credit Union Service Organization

SAFE 1 CREDIT UNION
— Statement of Financial Condition

Then NCUA provides quarterly Call Reports using accounting and statistical information from each credit union. The Call Report includes Balance Sheet, Income Statement and more.

Statement of financial condition for SAFE 1 CREDIT UNION as of: December 31, 2023.
Charter Number: 61598

ASSETS$ Amount
CASH:  
 1. Cash on Hand 14,641,965
 2. Cash on Deposit (Amounts Deposited in Financial Institutions) 131,361,010
 3. Cash Equivalents (Investments with Original Maturities of Three Months or Less) 0
INVESTMENTS:  
 4. Equity Securities 0
 5. Trading Debut Securities 0
 6. Available-for-Sale Debt Securities 104,273,200
 7. Held-to-Maturity Debt Securities 0
 8. Deposits in commercial banks, S&Ls, savings banks 0
 9. Loans to and investments in natural person credit unions 0
 10. Nonperpetual Capital Account 0
 11. Perpetual Contributed Capital 907,361
 12. All other investments in corporate credit unions 0
 13. All other investments 0
 14. TOTAL INVESTMENTS 0
LOANS HELD FOR SALE:  
 15. Loans Held for Sale 0
LOANS AND LEASES:  
 16. TOTAL LOANS & LEASES 731,345,398
 17. Less: Allowance for Loan & Lease Losses 0
 18: Less: Allowance for Credit Losses on Loans & Leases 5,485,211
OTHER ASSETS:  
 19. Foreclosed and Repossessed Assets 451,336
 20. Land and Building 15,227,159
 21. Other Fixed Assets 1,737,876
 22. NCUA Share Insurance Capitalization Deposit 7,657,492
 23. Intangible Assets 0
 24. Other Assets 0
25. TOTAL ASSETS 1,037,617,758
LIABILITIES$ Amount
 1. Draws Against Lines of Credit 100,000,000
 2. Other Notes, Promissory Notes and Interest Payable 0
 3. Borrowing Repurchase Transactions 0
 4. Subordinated Debt 0
 5. Subordinated Debt included in Net Worth 0
 6. TOTALS 100,000,000
 7. Non-Trading Derivative Liabilities 0
 8. Accrued Dividends & Interest Payable on Shares & Deposits 374,715
 9. Accounts Payable and Other Liabilities 17,065,879
 10. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures 0
SHARES/DEPOSITS:  
 11. Share Drafts 161,916,776
 12. Regular Shares 320,746,500
 13. Money Market Shares 51,444,903
 14. Share Certificates 216,170,303
 15. IRA/KEOGH Accounts 34,371,853
 16. All Other Shares 0
 17. TOTAL SHARES 784,650,335
 18. Nonmember Deposits 0
 19. TOTAL SHARES AND DEPOSITS 784,650,335
20. TOTAL LIABILITIES  
 21. Accounts Held by Member Public Units 0
 22. Accounts Held by Nonmember Public Units 0
 23. Employee Benefit Member Shares 0
 24. Employee Benefit Nonmember Shares 0
 25. 529 Plan Member Deposits 0
 26. Non-dollar denominated deposits 0
 27. Health Savings Account 0
 28. Dollar Amount of Share Certificates equal to or greater than $100,000 (Excluding brokered share certificates participated out by the broker in shares of less than $100,000) 108,675,637
 29. Dollar Amount of IRA/Keogh Accounts equal to or greater than $100,000 13,375,509
 30. Dollar Amount of Share Drafts Swept to Regular Shares or Money Market Accts as part of Sweep Program 0
 31. Dollar Amount of Commercial Share Accounts 5,660,542
 32. Negative Shares Included in All Other Unsecured Loans/Lines of Credit 225,950
EQUITY:  
 33. Undivided Earnings 127,541,534
 34. Regular Reserves 0
 35. Appropriation for Non-Conforming Investments (State Credit Unions ONLY) 0
 36. Other Reserves.(Appropriations of Undivided Earnings) 0
 37. Equity Acquired in Merger 13,672,827
 38. Miscellaneous Equity 0
 39. Other Comprehensive Income (not already included in items 40 - 43) -3,263
 40. Accumulated Unrealized Net Gains (Losses) on Cash Flow Hedges 0
 41. Accumulated Unrealized Gains (Losses) on Available for Sale Debt Securities -5,684,269
 42. Accumulated Unrealized Losses for OTTI (Due to Other Factors) on HTM Debt Securities 0
 43. Net Income (unless this amount is already included in Undivided Earnings) 0
44. TOTAL LIABILITIES, SHARES, AND EQUITY 1,037,617,758
Statement of Income & Expense$ Amount
INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 1. Interest on Loans (Gross-before interest refunds) 30,676,018
 2. (Less) Interest Refunded 0
 3. Income from Investments (Including Interest and Dividends, excluding securities held in a trading account) 4,597,915
 4. Unrealized Gain (Loss) due to change in fair value of Equity and Trading Debt Securities 0
 5. TOTAL INTEREST INCOME 35,273,933
INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 6. Dividends on Shares (Includes dividends earned during current period) 5,996,119
 7. Interest on Deposits (Total interest expense for deposit accounts) (State Credit Union ONLY) 0
 8. Interest on Borrowed Money 1,898,737
 9. TOTAL INTEREST EXPENSE 7,894,856
 10. Provision for Loan & Lease Losses 0
 11. Total Credit Loss Expense 2,003,828
 12. NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES or CREDIT LOSS EXPENSE 0
NON-INTEREST INCOME YEAR-TO-DATE FOR THE CYCLE  
 13. Fee Income 4,801,400
 14. Other Operating Income (Includes unconsolidated CUSO Income and Gain (Loss) associated with the Hedged Item (NonInvestment Assets) in a Non-Trading, Fair Value (FV) Derivatives Hedge) 0
 15. Gain (Loss) on Equity Securities (DO NOT include Gain (Loss) on other securities) 0
 16. Gain (Loss) on Other Securities (DO NOT include Gain or Loss on Equity Securities) 0
 17. Gain (Loss) on Non-Trading Derivatives 0
 18. Gain (Loss) on Disposition of Fixed Assets 0
 19. Gain from Bargain Purchase (Merger) 0
 20. Other Non-operating Income (Expense) -530,685
 21. TOTAL NON-INTEREST INCOME 11,147,428
NON-INTEREST EXPENSE YEAR-TO-DATE FOR THE CYCLE  
 22. Total Employee Compensation and Benefits 12,263,350
 23. Travel and Conference Expense 210,524
 24. Office Occupancy Expense 2,097,448
 25. Office Operations Expense 4,231,398
 26. Educational and Promotional Expenses 278,490
 27. Loan Servicing Expense 1,098,248
 28. Professional and Outside Services 3,477,045
 29. Total Member Insurance 0
 30. Operating Fees (Examination and/or supervision fees) 116,722
 31. Miscellaneous Operating Expenses 143,707
 32. TOTAL NON-INTEREST EXPENSE 23,916,932
33. NET INCOME (LOSS) 12,605,745
RESERVE TRANSFERS YEAR-TO-DATE FOR THE CYCLE  
 34. Transfer to Regular Reserves 0
Interest Rate# LoansAmount
Non-Commercial Loans/Lines of Credit
 1. Unsecured Credit Card Loans13.009,755$17,694,464
 2. Payday Alternative Loans (PALs I and PALs II)0.000$0
 3. Non-Federally Guaranteed Student Loans0.000$0
 4. All Other Unsecured Loans/Lines of Credit - include SBA PPP loans16.244,139$10,969,546
 5. New Vehicle Loans6.747,004$197,964,528
 6. Used Vehicle Loans7.2418,807$359,944,239
 7. Leases Receivable0.000$0
 8. All Other Secured Non-Real Estate Loans/Lines of Credit6.74256$3,357,173
 9. Loans/Lines of Credit Secured by a First Lien on a single 1- to 4- Family Residential Property7.00612$94,961,382
 10. Loans/Lines of Credit Secured by a Junior Lien on a single 1- to 4- Family Residential Property8.251,134$46,454,066
 11. All Other Real Estate Loans/Lines of Credit0.000$0
Commercial Loans / Lines of Credit
 12. Commercial Loans/Lines of Credit Real Estate Secured0.000$0
 13. Commercial Loans/Lines of Credit Not Real Estate Secured0.000$0
 14. TOTAL LOANS & LEASES41,707$731,345,398
YEAR-TO-DATE LOAN INFORMATIONNumberAmount
 15. Loans Granted Year-to-Date8,740$271,847,553
  a. Payday Alternative Loans (PALs I and PALs II) Granted Year-to-Date0$0
MISCELLANEOUS LOAN INFORMATIONNumberAmount
 16. Non-Federally Guaranteed Student Loans in Deferred Status0$0
 17. Loans Outstanding to Credit Union Officials and Senior Executive Staff19$810,112
GOVERNMENT GUARANTEED LOANSNumberOutstanding BalanceGuaranteed Portion
 18. Non-Commercial Loans  
  a. 1. Small Business Administration0$0$0
  a. 2. Paycheck Protection Program Loans (Included in 18.a.1.)0$0-
  b. Other Government Guaranteed0$0$0
 19. Commercial Loans  
  a. Small Business Administration0$0$0
  b. Other Government Guaranteed0$0$0