Jun, 30, 2024 — CARIBE FEDERAL CREDIT UNION is a federal credit union headquartered in SAN JUAN, PR with 4 branch locations and about $648.98 million in total assets. Opened 73 years ago in 1951, CARIBE FEDERAL CREDIT UNION has about 50,455 members and employs 144 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: | 50,455 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $648,977,380 |
| CEO/Manager: | Jorge M Vadell |
| Chairperson: | Juan M Masini |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 20,317,211 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 39,903,183 |
| Unsecured Loans | 158,500,257 |
| Other Loans | 343,233,656 |
| TOTAL LOANS | 541,637,096 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,416,371 |
| Land And Building | 10,828,973 |
| Other Fixed Assets | 754,198 |
| NCUSIF Deposit | 4,799,335 |
| All Other Assets | 177,385 |
| TOTAL ASSETS | 648,977,380 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 60,015 |
| Notes & Interest Payable | 25,000,000 |
| Accounts Payable & Other Liabilities | 7,965,154 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,708,842 |
| Regular shares | 433,806,800 |
| All Other Shares & Deposits | 85,484,786 |
| TOTAL SHARES & DEPOSITS | 548,000,428 |
| TOTAL LIABILITIES | 581,025,597 |
| Regular Reserve | 0 |
| Other Reserves | -2,895,646 |
| Undivided Earnings | 70,847,429 |
| TOTAL EQUITY | 67,951,783 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 648,977,380 |
| INCOME & EXPENSE | |
| Loan Income | 21,410,342 |
| Investment Income | 263,182 |
| Other Income | 419,711 |
| Total Employee Compensation & Benefits | 5,166,040 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,103,505 |
| Non-operating Income & (Expense) | 217,153 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,989,570 |
| Cost of Funds | 4,104,223 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,953,845 |
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