Dec, 31, 2023 — CARIBE FEDERAL CREDIT UNION is a federal credit union headquartered in SAN JUAN, PR with 4 branch locations and about $668.09 million in total assets. Opened 73 years ago in 1951, CARIBE FEDERAL CREDIT UNION has about 53,696 members and employs 143 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CARIBE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 195 Calle Oneill SAN JUAN, PR 00918-2404 |
| Phone: | (787) 474-5151 |
| Fax: | (787) 705-9030 |
| Website: | https://www.caribefederal.com |
| Branches: | 4 branch locations |
| Members: | 53,696 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7345 |
|---|---|
| Membership Type: | Multiple common bond - Primarily federal, state, local government |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $668,091,249 |
| CEO/Manager: | Jorge M Vadell |
| Chairperson: | Benito I Rodriguez |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 11,595,425 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 45,630,619 |
| Unsecured Loans | 165,703,014 |
| Other Loans | 318,458,946 |
| TOTAL LOANS | 529,792,579 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -21,574,348 |
| Land And Building | 10,434,655 |
| Other Fixed Assets | 904,227 |
| NCUSIF Deposit | 5,405,540 |
| All Other Assets | 349,793 |
| TOTAL ASSETS | 668,091,249 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 308,183 |
| Notes & Interest Payable | 12,500,000 |
| Accounts Payable & Other Liabilities | 6,696,659 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 29,612,731 |
| Regular shares | 366,733,004 |
| All Other Shares & Deposits | 191,006,089 |
| TOTAL SHARES & DEPOSITS | 587,351,824 |
| TOTAL LIABILITIES | 606,981,044 |
| Regular Reserve | 0 |
| Other Reserves | -824,289 |
| Undivided Earnings | 61,934,494 |
| TOTAL EQUITY | 61,110,205 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 668,091,249 |
| INCOME & EXPENSE | |
| Loan Income | 37,633,071 |
| Investment Income | 2,602,374 |
| Other Income | 897,741 |
| Total Employee Compensation & Benefits | 7,736,780 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,255,189 |
| Non-operating Income & (Expense) | 3,496,613 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 12,309,800 |
| Cost of Funds | 9,836,052 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,571,145 |
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