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BINSY FEDERAL CREDIT UNION

Jun, 30, 2023 — BINSY FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 1 branch location and about $1.71 million in total assets. Opened 72 years ago in 1952, BINSY FEDERAL CREDIT UNION has about 421 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BINSY FEDERAL CREDIT UNION
Address:
(Main Office)
318 Collins St
MEMPHIS, TN 38112-3308
Phone:(901) 324-3921
Fax:(901) 324-2899
Website:n/a
Branches:1 branch locations
Members:421
Credit Union Type:Federal Credit Union
Charter Number:7581
Membership Type:Manufacturing - All Other
Corporate Credit Union:No
Year Opened:1952
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$1,706,592
CEO/Manager:MAURIE H LASHLEE
Chairperson:DAVID SWINDLE

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 392,804
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 87,705
 Other Loans 892,339
 TOTAL LOANS 980,044
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,990
 Land And Building 0
 Other Fixed Assets 662
 NCUSIF Deposit 13,974
 All Other Assets 0
  TOTAL ASSETS 1,706,592
LIABILITIES & CAPITAL:  
 Dividends Payable 628
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 6,037
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,075,768
 All Other Shares & Deposits 379,253
  TOTAL SHARES & DEPOSITS 1,455,021
  TOTAL LIABILITIES 1,461,686
 Regular Reserve 0
 Other Reserves 91,862
 Undivided Earnings 153,044
  TOTAL EQUITY 244,906
  TOTAL LIABILITIES, SHARES, & EQUITY 1,706,592
INCOME & EXPENSE  
 Loan Income 43,676
 Investment Income 2,967
 Other Income 9,201
 Total Employee Compensation & Benefits 20,592
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 23,082
 Non-operating Income & (Expense) 2,722
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,879
 Cost of Funds 1,903
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,890
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