Dec, 31, 2023 — REDBRAND CREDIT UNION is a federally insured state chartered credit union headquartered in BARTONVILLE, IL with 2 branch locations and about $74.64 million in total assets. Opened 72 years ago in 1952, REDBRAND CREDIT UNION has about 7,325 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | REDBRAND CREDIT UNION |
|---|---|
| Address: (Main Office) | 820 McKinley Ave BARTONVILLE, IL 61607 |
| Phone: | (309) 697-1447 |
| Fax: | (309) 697-1448 |
| Website: | https://www.redbrandcu.com |
| Branches: | 2 branch locations |
| Members: | 7,325 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60346 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $74,641,951 |
| CEO/Manager: | Kelly Pearce |
| Chairperson: | Troy Hatterman |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,137,351 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,194,608 |
| Unsecured Loans | 3,203,690 |
| Other Loans | 27,656,458 |
| TOTAL LOANS | 36,054,756 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -425,143 |
| Land And Building | 1,282,105 |
| Other Fixed Assets | 136,942 |
| NCUSIF Deposit | 688,849 |
| All Other Assets | 0 |
| TOTAL ASSETS | 74,641,951 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,622 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 844,653 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,042,892 |
| Regular shares | 39,867,087 |
| All Other Shares & Deposits | 13,988,701 |
| TOTAL SHARES & DEPOSITS | 66,898,680 |
| TOTAL LIABILITIES | 67,744,955 |
| Regular Reserve | 0 |
| Other Reserves | -1,164,037 |
| Undivided Earnings | 8,061,033 |
| TOTAL EQUITY | 6,896,996 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,641,951 |
| INCOME & EXPENSE | |
| Loan Income | 1,751,086 |
| Investment Income | 534,164 |
| Other Income | 466,525 |
| Total Employee Compensation & Benefits | 1,013,800 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,910,412 |
| Non-operating Income & (Expense) | 987 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 70,000 |
| Cost of Funds | 46,934 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 524,894 |
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