Dec, 31, 2023 — RAY FEDERAL CREDIT UNION (Ray FCU) is a federal credit union headquartered in KEARNY, AZ with 1 branch location and about $15.05 million in total assets. Opened 69 years ago in 1955, RAY FEDERAL CREDIT UNION (Ray FCU) has about 2,241 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RAY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 112 Williams Lane KEARNY, AZ 85137-1089 |
| Phone: | (520) 363-5681 |
| Fax: | (520) 363-5688 |
| Website: | https://www.rayfcu.org |
| Branches: | 1 branch locations |
| Members: | 2,241 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9951 |
|---|---|
| Membership Type: | Multiple common bond - Primarily primary and fabricated metals |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $15,048,716 |
| CEO/Manager: | Dan Thurman |
| Chairperson: | Ralph S DuBois III |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,800,211 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,229,795 |
| Unsecured Loans | 2,933,420 |
| Other Loans | 6,195,003 |
| TOTAL LOANS | 10,358,217 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -153,440 |
| Land And Building | 151,385 |
| Other Fixed Assets | 54,103 |
| NCUSIF Deposit | 145,138 |
| All Other Assets | 0 |
| TOTAL ASSETS | 15,048,716 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 3,372 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 255,139 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,283,574 |
| Regular shares | 7,524,497 |
| All Other Shares & Deposits | 273,641 |
| TOTAL SHARES & DEPOSITS | 14,081,711 |
| TOTAL LIABILITIES | 14,340,222 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 708,494 |
| TOTAL EQUITY | 708,494 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 15,048,716 |
| INCOME & EXPENSE | |
| Loan Income | 796,418 |
| Investment Income | 95,900 |
| Other Income | 249,304 |
| Total Employee Compensation & Benefits | 412,874 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 667,399 |
| Non-operating Income & (Expense) | 110 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 252,876 |
| Cost of Funds | 18,213 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -33,507 |
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