Dec, 31, 2023 — KINETIC FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBUS, GA with 8 branch locations and about $552.59 million in total assets. Opened 68 years ago in 1956, KINETIC FEDERAL CREDIT UNION has about 46,281 members and employs 132 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | KINETIC FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1251 13th St COLUMBUS, GA 31901-2227 |
| Phone: | (706) 320-8500 |
| Fax: | (706) 321-0850 |
| Website: | https://kineticcu.com |
| Branches: | 8 branch locations |
| Members: | 46,281 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10866 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $552,590,706 |
| CEO/Manager: | Mark A Littleton |
| Chairperson: | Willie D Varner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 63,552,870 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 72,906,220 |
| Unsecured Loans | 35,449,562 |
| Other Loans | 318,787,162 |
| TOTAL LOANS | 427,142,944 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,219,215 |
| Land And Building | 8,677,296 |
| Other Fixed Assets | 2,512,800 |
| NCUSIF Deposit | 4,612,281 |
| All Other Assets | 347,785 |
| TOTAL ASSETS | 552,590,706 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 10,328 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,598,980 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 100,175,006 |
| Regular shares | 139,387,921 |
| All Other Shares & Deposits | 239,651,011 |
| TOTAL SHARES & DEPOSITS | 479,213,938 |
| TOTAL LIABILITIES | 482,823,246 |
| Regular Reserve | 0 |
| Other Reserves | 6,661,594 |
| Undivided Earnings | 63,105,866 |
| TOTAL EQUITY | 69,767,460 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 552,590,706 |
| INCOME & EXPENSE | |
| Loan Income | 22,826,119 |
| Investment Income | 3,289,275 |
| Other Income | 6,893,122 |
| Total Employee Compensation & Benefits | 10,965,625 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 12,147,829 |
| Non-operating Income & (Expense) | -37,149 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,022,883 |
| Cost of Funds | 3,757,597 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,932,814 |
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