Dec, 31, 2023 — HOPE FEDERAL CREDIT UNION is a federal credit union headquartered in JACKSON, MS with 23 branch locations and about $579.17 million in total assets. Opened 29 years ago in 1995, HOPE FEDERAL CREDIT UNION has about 39,199 members and employs 241 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOPE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4 Old River Pl JACKSON, MS 39202-3431 |
| Phone: | (601) 944-1100 |
| Fax: | (601) 944-0808 |
| Website: | https://hopecu.org |
| Branches: | 23 branch locations |
| Members: | 39,199 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24829 |
|---|---|
| Membership Type: | Multiple common bond - Primarily faith based |
| Corporate Credit Union: | No |
| Year Opened: | 1995 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $579,172,266 |
| CEO/Manager: | William Bynum |
| Chairperson: | Carolyn Gill-Jefferson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 70,875,782 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 274,064,778 |
| Unsecured Loans | 5,609,302 |
| Other Loans | 29,850,180 |
| TOTAL LOANS | 311,007,292 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -7,669,299 |
| Land And Building | 9,588,006 |
| Other Fixed Assets | 8,159,845 |
| NCUSIF Deposit | 2,054,089 |
| All Other Assets | 1,112,383 |
| TOTAL ASSETS | 579,172,266 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 319,656 |
| Notes & Interest Payable | 37,827,551 |
| Accounts Payable & Other Liabilities | 10,783,242 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 144,431,549 |
| Share Drafts | 60,193,286 |
| Regular shares | 94,369,071 |
| All Other Shares & Deposits | 236,632,681 |
| TOTAL SHARES & DEPOSITS | 391,195,039 |
| TOTAL LIABILITIES | 584,557,037 |
| Regular Reserve | 0 |
| Other Reserves | -11,939,496 |
| Undivided Earnings | 6,554,725 |
| TOTAL EQUITY | -5,384,771 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 579,172,266 |
| INCOME & EXPENSE | |
| Loan Income | 15,886,186 |
| Investment Income | 6,924,172 |
| Other Income | 3,407,734 |
| Total Employee Compensation & Benefits | 12,808,233 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,283,719 |
| Non-operating Income & (Expense) | 1,044,995 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,946,048 |
| Cost of Funds | 3,831,076 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 240,915 |
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