Dec, 31, 2023 — BAY CREDIT UNION is a federally insured state chartered credit union headquartered in PANAMA CITY, FL with 5 branch locations and about $167.51 million in total assets. Opened 72 years ago in 1952, BAY CREDIT UNION has about 12,152 members and employs 42 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BAY CREDIT UNION |
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Address: (Main Office) | 601 N Highway 231 PANAMA CITY, FL 32405-4705 |
Phone: | (850) 785-6103 |
Fax: | (850) 785-1452 |
Website: | https://www.hellocu.com |
Branches: | 5 branch locations |
Members: | 12,152 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 63262 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1952 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $167,506,585 |
CEO/Manager: | Michael Akers |
Chairperson: | Gary d Bliss |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,503,869 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 8,764,977 |
Unsecured Loans | 9,107,912 |
Other Loans | 92,865,540 |
TOTAL LOANS | 110,738,429 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,421,057 |
Land And Building | 5,574,129 |
Other Fixed Assets | 578,569 |
NCUSIF Deposit | 1,421,390 |
All Other Assets | 0 |
TOTAL ASSETS | 167,506,585 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 5,054,300 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 38,594,291 |
Regular shares | 69,129,677 |
All Other Shares & Deposits | 35,301,821 |
TOTAL SHARES & DEPOSITS | 143,025,789 |
TOTAL LIABILITIES | 148,080,089 |
Regular Reserve | 0 |
Other Reserves | 123,662 |
Undivided Earnings | 19,302,834 |
TOTAL EQUITY | 19,426,496 |
TOTAL LIABILITIES, SHARES, & EQUITY | 167,506,585 |
INCOME & EXPENSE | |
Loan Income | 6,054,543 |
Investment Income | 663,033 |
Other Income | 1,383,123 |
Total Employee Compensation & Benefits | 2,995,359 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 3,342,311 |
Non-operating Income & (Expense) | 237,113 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 761,858 |
Cost of Funds | 835,886 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 699,390 |
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» See also Statement of Financial Condition