Dec, 31, 2023 — TROPICAL FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in MIRAMAR, FL with 6 branch locations and about $966.64 million in total assets. Opened 89 years ago in 1935, TROPICAL FINANCIAL CREDIT UNION has about 68,154 members and employs 187 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | TROPICAL FINANCIAL CREDIT UNION |
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Address: (Main Office) | 3050 Corporate Way MIRAMAR, FL 33025 |
Phone: | (888) 261-8328 |
Fax: | (954) 499-6758 |
Website: | https://tropicalfcu.org |
Branches: | 6 branch locations |
Members: | 68,154 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68476 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $966,643,259 |
CEO/Manager: | Richard L Shaw |
Chairperson: | Hilda P Geer |
ASSETS: | $ Amount |
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Cash & Equivalents | 145,755,463 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 1,917,200 |
Real Estate Loans | 354,705,954 |
Unsecured Loans | 90,968,499 |
Other Loans | 343,629,443 |
TOTAL LOANS | 789,303,896 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -10,824,409 |
Land And Building | 6,571,161 |
Other Fixed Assets | 3,962,607 |
NCUSIF Deposit | 8,546,883 |
All Other Assets | 477,012 |
TOTAL ASSETS | 966,643,259 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 2,879 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 12,793,661 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 206,018,264 |
Regular shares | 349,472,168 |
All Other Shares & Deposits | 311,527,134 |
TOTAL SHARES & DEPOSITS | 867,017,566 |
TOTAL LIABILITIES | 879,814,106 |
Regular Reserve | 0 |
Other Reserves | 5,423,577 |
Undivided Earnings | 81,405,576 |
TOTAL EQUITY | 86,829,153 |
TOTAL LIABILITIES, SHARES, & EQUITY | 966,643,259 |
INCOME & EXPENSE | |
Loan Income | 40,674,820 |
Investment Income | 6,546,740 |
Other Income | 4,844,100 |
Total Employee Compensation & Benefits | 18,419,804 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 18,986,179 |
Non-operating Income & (Expense) | -140,435 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,526,286 |
Cost of Funds | 7,811,714 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 304,647 |
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» See also Statement of Financial Condition