Dec, 31, 2023 — THE HEALTH & EDUCATION FEDERAL CREDIT UNION is a federal credit union headquartered in LEXINGTON, KY with 2 branch locations and about $111.55 million in total assets. Opened 68 years ago in 1956, THE HEALTH & EDUCATION FEDERAL CREDIT UNION has about 12,491 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE HEALTH & EDUCATION FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 424 Park Pl LEXINGTON, KY 40511-1829 |
| Phone: | (859) 231-8262 |
| Fax: | (859) 254-3253 |
| Website: | https://www.thefcu.com |
| Branches: | 2 branch locations |
| Members: | 12,491 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10800 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1956 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $111,551,410 |
| CEO/Manager: | Pam R Henson |
| Chairperson: | David Riel |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,127,196 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 21,305,428 |
| Unsecured Loans | 2,545,441 |
| Other Loans | 19,718,364 |
| TOTAL LOANS | 43,569,233 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -118,677 |
| Land And Building | 368,108 |
| Other Fixed Assets | 40,755 |
| NCUSIF Deposit | 1,038,522 |
| All Other Assets | 0 |
| TOTAL ASSETS | 111,551,410 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 46,082 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,571,552 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 26,331,470 |
| Regular shares | 67,753,120 |
| All Other Shares & Deposits | 4,476,885 |
| TOTAL SHARES & DEPOSITS | 98,561,475 |
| TOTAL LIABILITIES | 97,036,005 |
| Regular Reserve | 0 |
| Other Reserves | -1,583,190 |
| Undivided Earnings | 16,098,595 |
| TOTAL EQUITY | 14,515,405 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 111,551,410 |
| INCOME & EXPENSE | |
| Loan Income | 2,003,642 |
| Investment Income | 1,712,677 |
| Other Income | 195,316 |
| Total Employee Compensation & Benefits | 1,124,438 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,080,893 |
| Non-operating Income & (Expense) | -54 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 32,488 |
| Cost of Funds | 114,590 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,254,589 |
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