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1ST RESOURCE CREDIT UNION

Sep, 30, 2022 — 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 83 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

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
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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