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NORTH GEORGIA CREDIT UNION

Dec, 31, 2023 — NORTH GEORGIA CREDIT UNION is a federally insured state chartered credit union headquartered in TOCCOA, GA with 4 branch locations and about $101.30 million in total assets. Opened 33 years ago in 1991, NORTH GEORGIA CREDIT UNION has about 11,773 members and employs 40 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:NORTH GEORGIA CREDIT UNION
Address:
(Main Office)
1067 Mize Rd
TOCCOA, GA 30577-5845
Phone:(706) 886-1441
Fax:(706) 886-3757
Website:https://www.ngcu.org
Branches:4 branch locations
Members:11,773
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67395
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1991
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$101,301,940
CEO/Manager:Brian K Akin
Chairperson:James L Norris

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 10,358,190
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 44,531,390
 Unsecured Loans 5,313,781
 Other Loans 25,992,637
 TOTAL LOANS 75,837,808
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -403,022
 Land And Building 3,073,447
 Other Fixed Assets 217,730
 NCUSIF Deposit 812,052
 All Other Assets 282,928
  TOTAL ASSETS 101,301,940
LIABILITIES & CAPITAL:  
 Dividends Payable 320,039
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 953,209
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 17,856,085
 Regular shares 41,766,429
 All Other Shares & Deposits 29,353,924
  TOTAL SHARES & DEPOSITS 88,976,438
  TOTAL LIABILITIES 90,249,686
 Regular Reserve 0
 Other Reserves 410,392
 Undivided Earnings 10,641,862
  TOTAL EQUITY 11,052,254
  TOTAL LIABILITIES, SHARES, & EQUITY 101,301,940
INCOME & EXPENSE  
 Loan Income 4,678,544
 Investment Income 369,854
 Other Income 755,758
 Total Employee Compensation & Benefits 2,625,841
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,977,547
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 188,227
 Cost of Funds 475,496
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,363,028
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