Dec, 31, 2023 — COOSA VALLEY CREDIT UNION is a federally insured state chartered credit union headquartered in ROME, GA with 11 branch locations and about $634.66 million in total assets. Opened 70 years ago in 1954, COOSA VALLEY CREDIT UNION has about 49,710 members and employs 129 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: | 11 branch locations |
| Members: | 49,710 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $634,661,475 |
| CEO/Manager: | Andy Harris |
| Chairperson: | Gideon C Hartley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 39,953,689 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 138,583,923 |
| Unsecured Loans | 22,009,407 |
| Other Loans | 315,123,521 |
| TOTAL LOANS | 477,333,008 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,843,023 |
| Land And Building | 25,060,888 |
| Other Fixed Assets | 8,557,930 |
| NCUSIF Deposit | 5,420,243 |
| All Other Assets | 2,006,057 |
| TOTAL ASSETS | 634,661,475 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 11,261,271 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 7,500,000 |
| Share Drafts | 138,439,839 |
| Regular shares | 248,219,942 |
| All Other Shares & Deposits | 178,755,024 |
| TOTAL SHARES & DEPOSITS | 565,414,805 |
| TOTAL LIABILITIES | 584,228,285 |
| Regular Reserve | 0 |
| Other Reserves | 5,564,129 |
| Undivided Earnings | 44,869,061 |
| TOTAL EQUITY | 50,433,190 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 634,661,475 |
| INCOME & EXPENSE | |
| Loan Income | 27,468,540 |
| Investment Income | 2,290,433 |
| Other Income | 10,495,131 |
| Total Employee Compensation & Benefits | 13,100,903 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,079,008 |
| Non-operating Income & (Expense) | -568,334 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,092,383 |
| Cost of Funds | 5,180,080 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,093,901 |
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