Sep, 30, 2025 — FAMILY SAVINGS CREDIT UNION is a federally insured state chartered credit union headquartered in RAINBOW CITY, AL with 17 branch locations and about $1.13 billion in total assets. Opened 75 years ago in 1951, FAMILY SAVINGS CREDIT UNION has about 78,123 members and employs 307 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FAMILY SAVINGS CREDIT UNION |
|---|---|
| Address: (Main Office) | 205 Rescia Ave RAINBOW CITY, AL 35906-5932 |
| Phone: | (256) 547-8190 |
| Fax: | (256) 442-8002 |
| Website: | https://www.familysavingscu.com |
| Branches: | 17 branch locations |
| Members: | 78,123 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68628 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Mar 01, 2025 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,128,689,149 |
| CEO/Manager: | Danny Varnon |
| Chairperson: | L P Williamson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 103,485,772 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 840,975 |
| Real Estate Loans | 443,274,891 |
| Unsecured Loans | 32,643,005 |
| Other Loans | 439,071,004 |
| TOTAL LOANS | 947,636,323 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,505,885 |
| Land And Building | 20,630,192 |
| Other Fixed Assets | 7,993,696 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 7,945,768 |
| All Other Assets | 669,873 |
| TOTAL ASSETS | 1,128,689,149 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,758,114 |
| Notes & Interest Payable | 59,900,000 |
| Accounts Payable & Other Liabilities | 10,856,608 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 173,822,502 |
| Regular shares | 322,426,325 |
| All Other Shares & Deposits | 461,855,744 |
| TOTAL SHARES & DEPOSITS | 958,104,570 |
| TOTAL LIABILITIES | 1,032,619,292 |
| Regular Reserve | 0 |
| Other Reserves | 297,500 |
| Undivided Earnings | 95,772,357 |
| TOTAL EQUITY | 96,069,857 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,128,689,149 |
| INCOME & EXPENSE | |
| Loan Income | 45,948,710 |
| Investment Income | 3,687,781 |
| Other Income | 10,547,583 |
| Total Employee Compensation & Benefits | 22,752,181 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 18,792,424 |
| Non-operating Income & (Expense) | -250,427 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,520,000 |
| Cost of Funds | 18,188,330 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,815,174 |
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