1ST RESOURCE CREDIT UNION is no longer an active credit union according to the NCUA. If available, you can view their website at https://www.my1resourcecu.com for more information.
Dec, 31, 2023 — 1ST RESOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 1 branch location and about $49.04 million in total assets. Opened 84 years ago in 1940, 1ST RESOURCE CREDIT UNION has about 2,479 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: | 1ST RESOURCE CREDIT UNION |
|---|---|
| Address: (Main Office) | 47 W OXMOOR RD BIRMINGHAM, AL 35209 |
| Phone: | (205) 944-1192 |
| Fax: | (205) 944-1196 |
| Website: | https://www.my1resourcecu.com |
| Branches: | 1 branch locations |
| Members: | 2,479 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 64232 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Mar 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $49,037,482 |
| CEO/Manager: | Rick Miller |
| Chairperson: | Reggie Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,625,577 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 16,242,541 |
| Unsecured Loans | 2,819,267 |
| Other Loans | 16,015,603 |
| TOTAL LOANS | 36,233,700 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -213,719 |
| Land And Building | 901,880 |
| Other Fixed Assets | 76,266 |
| NCUSIF Deposit | 399,867 |
| All Other Assets | 0 |
| TOTAL ASSETS | 49,037,482 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 42,420 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,843 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,852,170 |
| Regular shares | 10,230,246 |
| All Other Shares & Deposits | 31,589,534 |
| TOTAL SHARES & DEPOSITS | 43,671,950 |
| TOTAL LIABILITIES | 43,716,213 |
| Regular Reserve | 0 |
| Other Reserves | 722,044 |
| Undivided Earnings | 4,599,225 |
| TOTAL EQUITY | 5,321,269 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 49,037,482 |
| INCOME & EXPENSE | |
| Loan Income | 1,427,431 |
| Investment Income | 84,963 |
| Other Income | 40,598 |
| Total Employee Compensation & Benefits | 347,170 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 464,802 |
| Non-operating Income & (Expense) | 72,923 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,250 |
| Cost of Funds | 396,863 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 360,830 |
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» See also Statement of Financial Condition