Dec, 31, 2023 — KINGS PEAK CREDIT UNION is a federally insured state chartered credit union headquartered in ROOSEVELT, UT with 1 branch location and about $46.31 million in total assets. Opened 64 years ago in 1960, KINGS PEAK CREDIT UNION has about 3,207 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KINGS PEAK CREDIT UNION |
|---|---|
| Address: (Main Office) | 180 N 300 E ROOSEVELT, UT 84066 |
| Phone: | (435) 722-3795 |
| Fax: | (435) 722-9282 |
| Website: | https://www.kingspeakcu.com |
| Branches: | 1 branch locations |
| Members: | 3,207 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67160 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1960 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $46,311,508 |
| CEO/Manager: | Ryan Reynolds |
| Chairperson: | William M Fausett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,077,722 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,152,808 |
| Unsecured Loans | 1,251,686 |
| Other Loans | 24,480,297 |
| TOTAL LOANS | 34,884,791 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -588,246 |
| Land And Building | 703,220 |
| Other Fixed Assets | 78,388 |
| NCUSIF Deposit | 247,082 |
| All Other Assets | 0 |
| TOTAL ASSETS | 46,311,508 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 31,817 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 5,494,044 |
| Regular shares | 9,697,975 |
| All Other Shares & Deposits | 27,059,156 |
| TOTAL SHARES & DEPOSITS | 42,251,175 |
| TOTAL LIABILITIES | 42,282,992 |
| Regular Reserve | 0 |
| Other Reserves | 2,000,000 |
| Undivided Earnings | 2,028,516 |
| TOTAL EQUITY | 4,028,516 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 46,311,508 |
| INCOME & EXPENSE | |
| Loan Income | 2,597,361 |
| Investment Income | 248,926 |
| Other Income | 350,352 |
| Total Employee Compensation & Benefits | 562,861 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 911,779 |
| Non-operating Income & (Expense) | 10,417 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 195,000 |
| Cost of Funds | 1,005,702 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 885,938 |
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