Dec, 31, 2023 — SOLIDARITY COMMUNITY FEDERAL CREDIT UNION is a federal credit union headquartered in KOKOMO, IN with 2 branch locations and about $338.00 million in total assets. Opened 70 years ago in 1954, SOLIDARITY COMMUNITY FEDERAL CREDIT UNION has about 24,753 members and employs 59 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOLIDARITY COMMUNITY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 201 E Southway Blvd KOKOMO, IN 46902-3677 |
| Phone: | (765) 453-4020 |
| Fax: | (765) 453-1572 |
| Website: | https://www.solfcu.org/ |
| Branches: | 2 branch locations |
| Members: | 24,753 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9923 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $337,995,712 |
| CEO/Manager: | Amy Benner |
| Chairperson: | Vince Holt |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 35,274,857 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 50,703,684 |
| Unsecured Loans | 10,436,695 |
| Other Loans | 140,467,321 |
| TOTAL LOANS | 201,607,700 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,254,616 |
| Land And Building | 3,671,799 |
| Other Fixed Assets | 2,218,762 |
| NCUSIF Deposit | 2,676,970 |
| All Other Assets | 57,701 |
| TOTAL ASSETS | 337,995,712 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 36,000,000 |
| Accounts Payable & Other Liabilities | 5,707,008 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 55,531,005 |
| Regular shares | 102,752,790 |
| All Other Shares & Deposits | 114,839,109 |
| TOTAL SHARES & DEPOSITS | 273,122,906 |
| TOTAL LIABILITIES | 314,832,567 |
| Regular Reserve | 0 |
| Other Reserves | -14,320,788 |
| Undivided Earnings | 37,483,933 |
| TOTAL EQUITY | 23,163,145 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 337,995,712 |
| INCOME & EXPENSE | |
| Loan Income | 9,448,104 |
| Investment Income | 2,546,121 |
| Other Income | 2,045,863 |
| Total Employee Compensation & Benefits | 6,066,096 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,150,751 |
| Non-operating Income & (Expense) | 818,713 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,003 |
| Cost of Funds | 3,586,963 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,735,509 |
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