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SOUTHERN PINE CREDIT UNION

Dec, 31, 2020 — SOUTHERN PINE CREDIT UNION is a federally insured state chartered credit union headquartered in VALDOSTA, GA with 1 branch location and about $42.26 million in total assets. Opened 30 years ago in 1991, SOUTHERN PINE CREDIT UNION has about 1,647 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SOUTHERN PINE CREDIT UNION
Address:
(Main Office)
PO Box 1048
VALDOSTA, GA 31603-1048
Phone:(229) 559-3311
Fax:(229) 559-3333
Website:http://www.southernpinecu.org
Branches:1 branch locations
Members:1,647
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67403
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1991
Last Audited:Sep 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$42,257,636
CEO/Manager:Kevin Durrance
Chairperson:

Call Report

  • Real Estate Loans
  • ATM/Debit Card Program
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,755,595
TOTAL INVESTMENTS 8,084,236
Loans Held for Sale 0
 
 Real Estate Loans 18,203,141
 Unsecured Loans 1,315,360
 Other Loans 7,776,773
 TOTAL LOANS 27,295,274
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -430,638
 Land And Building 2,683
 Other Fixed Assets 0
 NCUSIF Deposit 366,650
 All Other Assets 183,836
  TOTAL ASSETS 42,257,636
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 461,062
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,995,104
 Regular shares 27,312,235
 All Other Shares & Deposits 9,695,914
  TOTAL SHARES & DEPOSITS 39,003,253
  TOTAL LIABILITIES 39,464,315
 Regular Reserve 833,432
 Other Reserves 0
 Undivided Earnings 1,959,889
  TOTAL EQUITY 2,793,321
  TOTAL LIABILITIES, SHARES, & EQUITY 42,257,636
INCOME & EXPENSE  
 Loan Income 1,350,444
 Investment Income 231,351
 Other Income 104,721
 Total Employee Compensation & Benefits 424,223
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 6,561,289
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 276,577
 Cost of Funds 269,362
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,844,935
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