Dec, 31, 2023 — TRANSCEND CREDIT UNION is a federally insured state chartered credit union headquartered in LOUISVILLE, KY with 6 branch locations and about $519.27 million in total assets. Opened 90 years ago in 1934, TRANSCEND CREDIT UNION has about 47,228 members and employs 69 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TRANSCEND CREDIT UNION |
|---|---|
| Address: (Main Office) | 3740 Bardstown Rd LOUISVILLE, KY 40218-2209 |
| Phone: | (502) 459-3000 |
| Fax: | |
| Website: | https://www.transcendcu.com |
| Branches: | 6 branch locations |
| Members: | 47,228 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68666 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $519,269,898 |
| CEO/Manager: | Richard Reese |
| Chairperson: | Mark Booker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 41,070,130 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 104,427,657 |
| Unsecured Loans | 16,529,330 |
| Other Loans | 249,796,694 |
| TOTAL LOANS | 370,753,681 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -621,045 |
| Land And Building | 12,312,708 |
| Other Fixed Assets | 1,200,469 |
| NCUSIF Deposit | 3,806,586 |
| All Other Assets | 0 |
| TOTAL ASSETS | 519,269,898 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,513 |
| Notes & Interest Payable | 30,000,000 |
| Accounts Payable & Other Liabilities | 5,434,973 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 67,788,896 |
| Regular shares | 148,415,046 |
| All Other Shares & Deposits | 203,795,998 |
| TOTAL SHARES & DEPOSITS | 419,999,940 |
| TOTAL LIABILITIES | 455,437,426 |
| Regular Reserve | 0 |
| Other Reserves | 3,489,318 |
| Undivided Earnings | 60,343,154 |
| TOTAL EQUITY | 63,832,472 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 519,269,898 |
| INCOME & EXPENSE | |
| Loan Income | 14,574,094 |
| Investment Income | 2,954,090 |
| Other Income | 3,155,664 |
| Total Employee Compensation & Benefits | 7,180,752 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,211,555 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 457,901 |
| Cost of Funds | 7,545,359 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,118,309 |
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