Dec, 31, 2023 — ENRICHMENT FEDERAL CREDIT UNION is a federal credit union headquartered in OAK RIDGE, TN with 9 branch locations and about $827.19 million in total assets. Opened 74 years ago in 1950, ENRICHMENT FEDERAL CREDIT UNION has about 45,571 members and employs 136 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ENRICHMENT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 201 S ILLINOIS AVE OAK RIDGE, TN 37830 |
| Phone: | (865) 482-0045 |
| Fax: | (865) 482-6059 |
| Website: | https://www.enrichmentfcu.org |
| Branches: | 9 branch locations |
| Members: | 45,571 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 6778 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $827,193,059 |
| CEO/Manager: | Jeremy Hodges |
| Chairperson: | RICHARD N BENSON |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 84,856,555 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 394,764,108 |
| Unsecured Loans | 16,647,056 |
| Other Loans | 208,932,016 |
| TOTAL LOANS | 646,417,886 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,193,000 |
| Land And Building | 13,099,525 |
| Other Fixed Assets | 1,836,154 |
| NCUSIF Deposit | 6,519,088 |
| All Other Assets | 140,152 |
| TOTAL ASSETS | 827,193,059 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,535,830 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 139,682,597 |
| Regular shares | 218,435,120 |
| All Other Shares & Deposits | 378,246,482 |
| TOTAL SHARES & DEPOSITS | 736,364,198 |
| TOTAL LIABILITIES | 739,900,028 |
| Regular Reserve | 0 |
| Other Reserves | 6,567,448 |
| Undivided Earnings | 80,725,583 |
| TOTAL EQUITY | 87,293,031 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 827,193,059 |
| INCOME & EXPENSE | |
| Loan Income | 26,848,954 |
| Investment Income | 4,473,244 |
| Other Income | 1,902,863 |
| Total Employee Compensation & Benefits | 10,719,789 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 10,701,693 |
| Non-operating Income & (Expense) | 5,273 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 713,060 |
| Cost of Funds | 5,977,179 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 13,323,521 |
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