Dec, 31, 2023 — RED CANOE CREDIT UNION is a federally insured state chartered credit union headquartered in LONGVIEW, WA with 12 branch locations and about $1.16 billion in total assets. Opened 87 years ago in 1937, RED CANOE CREDIT UNION has about 59,944 members and employs 244 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RED CANOE CREDIT UNION |
|---|---|
| Address: (Main Office) | 1418 15th Ave LONGVIEW, WA 98632 |
| Phone: | (800) 562-5611 |
| Fax: | |
| Website: | https://www.redcanoecu.com |
| Branches: | 12 branch locations |
| Members: | 59,944 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68196 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,161,025,646 |
| CEO/Manager: | David Spaulding |
| Chairperson: | Kurt Sacha |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 50,496,321 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 531,372,700 |
| Unsecured Loans | 49,924,251 |
| Other Loans | 257,631,125 |
| TOTAL LOANS | 838,928,076 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,306,217 |
| Land And Building | 33,096,145 |
| Other Fixed Assets | 11,062,806 |
| NCUSIF Deposit | 9,424,798 |
| All Other Assets | 601,168 |
| TOTAL ASSETS | 1,161,025,646 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 25,000,000 |
| Accounts Payable & Other Liabilities | 17,554,587 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 208,987,489 |
| Regular shares | 291,509,627 |
| All Other Shares & Deposits | 499,132,519 |
| TOTAL SHARES & DEPOSITS | 999,629,635 |
| TOTAL LIABILITIES | 1,042,184,222 |
| Regular Reserve | 0 |
| Other Reserves | -5,028,809 |
| Undivided Earnings | 123,870,233 |
| TOTAL EQUITY | 118,841,424 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,161,025,646 |
| INCOME & EXPENSE | |
| Loan Income | 38,998,738 |
| Investment Income | 4,777,930 |
| Other Income | 6,811,650 |
| Total Employee Compensation & Benefits | 25,025,491 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,882,548 |
| Non-operating Income & (Expense) | 48,074 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,034,181 |
| Cost of Funds | 8,854,571 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,213,141 |
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» See also Statement of Financial Condition