Dec, 31, 2022 — COOSA VALLEY CREDIT UNION is a federally insured state chartered credit union headquartered in ROME, GA with 9 branch locations and about $574.70 million in total assets. Opened 69 years ago in 1954, COOSA VALLEY CREDIT UNION has about 48,492 members and employs 109 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COOSA VALLEY CREDIT UNION |
|---|---|
| Address: (Main Office) | 2010 Redmond CIR NW ROME, GA 30165 |
| Phone: | (706) 235-8551 |
| Fax: | (706) 235-6795 |
| Website: | https://mycvcu.org |
| Branches: | 9 branch locations |
| Members: | 48,492 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68683 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Mar 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $574,697,364 |
| CEO/Manager: | Andy Harris |
| Chairperson: | Gideon C Hartley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 64,337,585 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 123,257,077 |
| Unsecured Loans | 23,004,614 |
| Other Loans | 266,991,680 |
| TOTAL LOANS | 415,788,655 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,524,638 |
| Land And Building | 18,315,233 |
| Other Fixed Assets | 5,035,324 |
| NCUSIF Deposit | 4,547,721 |
| All Other Assets | 862,804 |
| TOTAL ASSETS | 574,697,364 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,375,368 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 7,500,000 |
| Share Drafts | 139,955,623 |
| Regular shares | 277,965,768 |
| All Other Shares & Deposits | 96,934,759 |
| TOTAL SHARES & DEPOSITS | 514,856,150 |
| TOTAL LIABILITIES | 531,731,518 |
| Regular Reserve | 0 |
| Other Reserves | 4,080,023 |
| Undivided Earnings | 38,885,823 |
| TOTAL EQUITY | 42,965,846 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 574,697,364 |
| INCOME & EXPENSE | |
| Loan Income | 15,182,183 |
| Investment Income | 776,612 |
| Other Income | 6,823,833 |
| Total Employee Compensation & Benefits | 8,740,978 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,926,038 |
| Non-operating Income & (Expense) | -97,812 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,436,473 |
| Cost of Funds | 557,593 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 5,389,816 |
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