Dec, 31, 2023 — FLORIDA RURAL ELECTRIC CREDIT UNION is a federally insured state chartered credit union headquartered in TALLAHASSEE, FL with 1 branch location and about $27.78 million in total assets. Opened 33 years ago in 1991, FLORIDA RURAL ELECTRIC CREDIT UNION has about 2,949 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FLORIDA RURAL ELECTRIC CREDIT UNION |
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Address: (Main Office) | 2916 Apalachee Pkwy TALLAHASSEE, FL 32301-3731 |
Phone: | (850) 877-6168 |
Fax: | (850) 671-6627 |
Website: | https://www.frecu.org |
Branches: | 1 branch locations |
Members: | 2,949 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67561 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1991 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $27,777,483 |
CEO/Manager: | Thomas Flowers |
Chairperson: | JOHN BARTLEY |
ASSETS: | $ Amount |
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Cash & Equivalents | 240,136 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 37,659 |
Unsecured Loans | 1,750,337 |
Other Loans | 19,844,630 |
TOTAL LOANS | 21,632,626 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -107,943 |
Land And Building | 0 |
Other Fixed Assets | 41,287 |
NCUSIF Deposit | 221,578 |
All Other Assets | 0 |
TOTAL ASSETS | 27,777,483 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 80,402 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,994,676 |
Regular shares | 11,967,300 |
All Other Shares & Deposits | 5,834,972 |
TOTAL SHARES & DEPOSITS | 21,796,948 |
TOTAL LIABILITIES | 21,877,350 |
Regular Reserve | 0 |
Other Reserves | 1,245,360 |
Undivided Earnings | 4,654,773 |
TOTAL EQUITY | 5,900,133 |
TOTAL LIABILITIES, SHARES, & EQUITY | 27,777,483 |
INCOME & EXPENSE | |
Loan Income | 1,170,750 |
Investment Income | 194,864 |
Other Income | 118,389 |
Total Employee Compensation & Benefits | 480,014 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 672,464 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 56,952 |
Cost of Funds | 187,697 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 182,259 |
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