Dec, 31, 2023 — K I T FEDERAL CREDIT UNION is a federal credit union headquartered in LOUISVILLE, KY with 1 branch location and about $20.02 million in total assets. Opened 59 years ago in 1965, K I T FEDERAL CREDIT UNION has about 1,917 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | K I T FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9711 Linn Station Rd LOUISVILLE, KY 40223 |
| Phone: | (502) 459-9286 |
| Fax: | (502) 458-7038 |
| Website: | https://www.kitfcu.org |
| Branches: | 1 branch locations |
| Members: | 1,917 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16947 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $20,023,963 |
| CEO/Manager: | Andrea Maxwell |
| Chairperson: | Scott Malony |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,468,875 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,819,149 |
| Unsecured Loans | 1,609,462 |
| Other Loans | 5,438,779 |
| TOTAL LOANS | 12,867,391 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -79,229 |
| Land And Building | 802,955 |
| Other Fixed Assets | 28,771 |
| NCUSIF Deposit | 158,133 |
| All Other Assets | 6,601 |
| TOTAL ASSETS | 20,023,963 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 103,031 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,152,884 |
| Regular shares | 3,647,943 |
| All Other Shares & Deposits | 11,091,357 |
| TOTAL SHARES & DEPOSITS | 17,892,185 |
| TOTAL LIABILITIES | 17,995,216 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,028,747 |
| TOTAL EQUITY | 2,028,747 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 20,023,963 |
| INCOME & EXPENSE | |
| Loan Income | 869,598 |
| Investment Income | 99,747 |
| Other Income | 252,851 |
| Total Employee Compensation & Benefits | 546,250 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 417,119 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 39,070 |
| Cost of Funds | 234,257 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 117,202 |
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