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1ST RESOURCE CREDIT UNION

Mar, 31, 2021 — 1ST RESOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in BIRMINGHAM, AL with 2 branch locations and about $49.15 million in total assets. Opened 81 years ago in 1940, 1ST RESOURCE CREDIT UNION has about 2,417 members and employs 9 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:http://www.my1resourcecu.com
Branches:2 branch locations
Members:2,417
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$49,152,383
CEO/Manager:Rick Miller
Chairperson:Reggie Johnson

Call Report

  • Credit Builder
  • Real Estate Loans
  • Risk Based 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 10,370,909
TOTAL INVESTMENTS 2,249,000
Loans Held for Sale 0
 
 Real Estate Loans 16,354,224
 Unsecured Loans 2,852,963
 Other Loans 15,376,511
 TOTAL LOANS 35,389,153
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -312,354
 Land And Building 929,908
 Other Fixed Assets 125,906
 NCUSIF Deposit 317,250
 All Other Assets 82,611
  TOTAL ASSETS 49,152,383
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 32,565
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,171,429
 Regular shares 10,438,217
 All Other Shares & Deposits 31,940,354
  TOTAL SHARES & DEPOSITS 44,550,000
  TOTAL LIABILITIES 44,582,565
 Regular Reserve 722,044
 Other Reserves 0
 Undivided Earnings 3,847,774
  TOTAL EQUITY 4,569,818
  TOTAL LIABILITIES, SHARES, & EQUITY 49,152,383
INCOME & EXPENSE  
 Loan Income 437,650
 Investment Income 4,129
 Other Income 10,453
 Total Employee Compensation & Benefits 155,949
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 155,914
 Non-operating Income & (Expense) 743
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 139,007
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 33,349
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