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FLORIDA RURAL ELECTRIC CREDIT UNION

Mar, 31, 2022 — FLORIDA RURAL ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in TALLAHASSEE, FL with 1 branch location and about $29.22 million in total assets. Opened 31 years ago in 1991, FLORIDA RURAL ELECTRIC CREDIT UNION has about 2,942 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FLORIDA RURAL ELECTRIC CREDIT UNION
Address:
(Main Office)
2916 Apalachee Pkwy
TALLAHASSEE, FL 32301-3731
Phone:(850) 877-6168
Fax:(850) 671-6627
Website:http://www.frecu.org
Branches:1 branch locations
Members:2,942
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67561
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1991
Last Audited:Apr 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$29,222,419
CEO/Manager:Paula Tuten
Chairperson:JOHN BARTLEY

Call Report

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,185,612
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 115,531
 Unsecured Loans 1,796,063
 Other Loans 16,959,892
 TOTAL LOANS 18,871,486
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -41,347
 Land And Building 0
 Other Fixed Assets 73,501
 NCUSIF Deposit 261,146
 All Other Assets 0
  TOTAL ASSETS 29,222,419
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 46,316
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,358,321
 Regular shares 14,448,299
 All Other Shares & Deposits 3,524,270
  TOTAL SHARES & DEPOSITS 23,330,890
  TOTAL LIABILITIES 23,377,206
 Regular Reserve 0
 Other Reserves 1,253,164
 Undivided Earnings 4,592,049
  TOTAL EQUITY 5,845,213
  TOTAL LIABILITIES, SHARES, & EQUITY 29,222,419
INCOME & EXPENSE  
 Loan Income 231,579
 Investment Income 13,893
 Other Income 24,674
 Total Employee Compensation & Benefits 106,272
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 149,551
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 13,235
 Cost of Funds 12,759
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 7,870
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