Dec, 31, 2023 — GEORGIA UNITED CREDIT UNION is a federally insured state chartered credit union headquartered in DULUTH, GA with 16 branch locations and about $2.12 billion in total assets. Opened 66 years ago in 1958, GEORGIA UNITED CREDIT UNION has about 148,789 members and employs 373 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GEORGIA UNITED CREDIT UNION |
|---|---|
| Address: (Main Office) | 6705 Sugarloaf Pkwy DULUTH, GA 30097-4356 |
| Phone: | (770) 476-6400 |
| Fax: | (770) 476-6433 |
| Website: | https://www.gucu.org |
| Branches: | 16 branch locations |
| Members: | 148,789 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68607 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,117,805,555 |
| CEO/Manager: | Debbie W Smith |
| Chairperson: | Tom S Dickson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 126,117,034 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 929,954,768 |
| Unsecured Loans | 133,315,693 |
| Other Loans | 607,458,374 |
| TOTAL LOANS | 1,670,728,835 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -12,715,640 |
| Land And Building | 43,350,729 |
| Other Fixed Assets | 5,742,885 |
| NCUSIF Deposit | 17,080,246 |
| All Other Assets | 1,262,416 |
| TOTAL ASSETS | 2,117,805,555 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,468,690 |
| Notes & Interest Payable | 50,000,000 |
| Accounts Payable & Other Liabilities | 42,266,743 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 8,924,500 |
| Share Drafts | 345,847,518 |
| Regular shares | 852,401,123 |
| All Other Shares & Deposits | 630,540,579 |
| TOTAL SHARES & DEPOSITS | 1,828,789,220 |
| TOTAL LIABILITIES | 1,932,449,153 |
| Regular Reserve | 0 |
| Other Reserves | -1,532,330 |
| Undivided Earnings | 186,888,732 |
| TOTAL EQUITY | 185,356,402 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,117,805,555 |
| INCOME & EXPENSE | |
| Loan Income | 84,232,105 |
| Investment Income | 9,507,040 |
| Other Income | 14,021,044 |
| Total Employee Compensation & Benefits | 39,834,544 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 32,724,710 |
| Non-operating Income & (Expense) | 1,840,629 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,300,000 |
| Cost of Funds | 22,166,614 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 23,076,361 |
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