Dec, 31, 2023 — THE WRIGHT CREDIT UNION is a federally insured state chartered credit union headquartered in TOCCOA, GA with 2 branch locations and about $16.55 million in total assets. Opened 61 years ago in 1963, THE WRIGHT CREDIT UNION has about 1,776 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE WRIGHT CREDIT UNION |
|---|---|
| Address: (Main Office) | 286 N Broad St TOCCOA, GA 30577 |
| Phone: | (706) 886-2908 |
| Fax: | (706) 886-0154 |
| Website: | https://thewrightcu.org |
| Branches: | 2 branch locations |
| Members: | 1,776 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67564 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1963 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,554,376 |
| CEO/Manager: | Alaina L LaCount |
| Chairperson: | Mark Richardson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,039,841 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,133,356 |
| Unsecured Loans | 897,706 |
| Other Loans | 5,624,172 |
| TOTAL LOANS | 9,655,234 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -127,390 |
| Land And Building | 745,302 |
| Other Fixed Assets | 43,645 |
| NCUSIF Deposit | 129,424 |
| All Other Assets | 9,373 |
| TOTAL ASSETS | 16,554,376 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -26,164 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,010,581 |
| Regular shares | 7,033,189 |
| All Other Shares & Deposits | 4,763,034 |
| TOTAL SHARES & DEPOSITS | 13,806,804 |
| TOTAL LIABILITIES | 13,780,640 |
| Regular Reserve | 0 |
| Other Reserves | 398,858 |
| Undivided Earnings | 2,374,878 |
| TOTAL EQUITY | 2,773,736 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,554,376 |
| INCOME & EXPENSE | |
| Loan Income | 782,900 |
| Investment Income | 206,855 |
| Other Income | 67,010 |
| Total Employee Compensation & Benefits | 325,670 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 306,591 |
| Non-operating Income & (Expense) | -3,482 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 38,000 |
| Cost of Funds | 75,446 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 354,813 |
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