Dec, 31, 2023 — RAPIDES FEDERAL CREDIT UNION is a federal credit union headquartered in ALEXANDRIA, LA with 2 branch locations and about $6.06 million in total assets. Opened 66 years ago in 1958, RAPIDES FEDERAL CREDIT UNION has about 1,110 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RAPIDES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 612 Broadway Ave ALEXANDRIA, LA 71302-5932 |
| Phone: | (318) 445-2866 |
| Fax: | (318) 448-1406 |
| Website: | https://www.rapidesfederalcu.com |
| Branches: | 2 branch locations |
| Members: | 1,110 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 12225 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1958 |
| Last Audited: | Oct 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,056,281 |
| CEO/Manager: | Basil W Smith |
| Chairperson: | Susie C Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 541,247 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 339,925 |
| Other Loans | 2,677,140 |
| TOTAL LOANS | 3,017,065 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,694 |
| Land And Building | 33,801 |
| Other Fixed Assets | 3,639 |
| NCUSIF Deposit | 47,812 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,056,281 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 22,192 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 4,368,764 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 4,368,764 |
| TOTAL LIABILITIES | 4,390,956 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 1,665,325 |
| TOTAL EQUITY | 1,665,325 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,056,281 |
| INCOME & EXPENSE | |
| Loan Income | 157,334 |
| Investment Income | 86,994 |
| Other Income | 12,163 |
| Total Employee Compensation & Benefits | 88,168 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 110,530 |
| Non-operating Income & (Expense) | 900 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,817 |
| Cost of Funds | 12,285 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 60,650 |
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