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CLASS ACT FEDERAL CREDIT UNION

Sep, 30, 2022 — CLASS ACT FEDERAL CREDIT UNION is a federal credit union headquartered in LOUISVILLE, KY with 5 branch locations and about $315.98 million in total assets. Opened 69 years ago in 1954, CLASS ACT FEDERAL CREDIT UNION has about 20,251 members and employs 71 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:CLASS ACT FEDERAL CREDIT UNION
Address:
(Main Office)
3620 Fern Valley Rd
LOUISVILLE, KY 40219-1917
Phone:(502) 964-7575
Fax:(502) 966-2061
Website:https://www.classact.org
Branches:5 branch locations
Members:20,251
Credit Union Type:Federal Credit Union
Charter Number:9106
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1954
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$315,983,505
CEO/Manager:Lynn Huether
Chairperson:Jeremy Hudson

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 26,771,119
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 89,330,236
 Unsecured Loans 20,349,987
 Other Loans 78,904,160
 TOTAL LOANS 188,584,383
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,080,741
 Land And Building 5,623,750
 Other Fixed Assets 1,657,146
 NCUSIF Deposit 2,727,954
 All Other Assets 0
  TOTAL ASSETS 315,983,505
LIABILITIES & CAPITAL:  
 Dividends Payable 4,680
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,615,375
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 75,776,798
 Regular shares 100,864,228
 All Other Shares & Deposits 109,583,534
  TOTAL SHARES & DEPOSITS 286,224,560
  TOTAL LIABILITIES 288,844,615
 Regular Reserve 0
 Other Reserves -1,736,275
 Undivided Earnings 28,875,165
  TOTAL EQUITY 27,138,890
  TOTAL LIABILITIES, SHARES, & EQUITY 315,983,505
INCOME & EXPENSE  
 Loan Income 6,447,909
 Investment Income 600,134
 Other Income 1,757,334
 Total Employee Compensation & Benefits 3,452,613
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,742,761
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 505,000
 Cost of Funds 818,291
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,259,635
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