Dec, 31, 2023 — GREENWOOD CREDIT UNION is a federally insured state chartered credit union headquartered in WARWICK, RI with 1 branch location and about $868.59 million in total assets. Opened 76 years ago in 1948, GREENWOOD CREDIT UNION has about 64,644 members and employs 78 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GREENWOOD CREDIT UNION |
|---|---|
| Address: (Main Office) | 2700 Post Rd WARWICK, RI 02886-3003 |
| Phone: | (401) 739-4600 |
| Fax: | |
| Website: | https://www.greenwoodcu.org |
| Branches: | 1 branch locations |
| Members: | 64,644 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66594 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $868,588,420 |
| CEO/Manager: | Frederick Reinhardt |
| Chairperson: | Thomas Ahern |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 19,467,206 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 222,969,658 |
| Unsecured Loans | 13,783,189 |
| Other Loans | 522,986,908 |
| TOTAL LOANS | 759,923,648 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,597,989 |
| Land And Building | 12,766,571 |
| Other Fixed Assets | 1,203,842 |
| NCUSIF Deposit | 6,379,409 |
| All Other Assets | 740,540 |
| TOTAL ASSETS | 868,588,420 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12,494 |
| Notes & Interest Payable | 8,436,376 |
| Accounts Payable & Other Liabilities | 3,663,917 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 65,039,048 |
| Regular shares | 126,094,413 |
| All Other Shares & Deposits | 590,999,508 |
| TOTAL SHARES & DEPOSITS | 782,132,969 |
| TOTAL LIABILITIES | 794,247,124 |
| Regular Reserve | 0 |
| Other Reserves | 1,447,928 |
| Undivided Earnings | 72,893,368 |
| TOTAL EQUITY | 74,341,296 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 868,588,420 |
| INCOME & EXPENSE | |
| Loan Income | 38,523,551 |
| Investment Income | 717,243 |
| Other Income | 3,356,301 |
| Total Employee Compensation & Benefits | 8,323,886 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 9,171,329 |
| Non-operating Income & (Expense) | 781,234 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,807,978 |
| Cost of Funds | 20,262,388 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,039,277 |
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