Dec, 31, 2023 — CHARLOTTE METRO FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLOTTE, NC with 19 branch locations and about $1.52 billion in total assets. Opened 62 years ago in 1962, CHARLOTTE METRO FEDERAL CREDIT UNION has about 104,829 members and employs 293 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CHARLOTTE METRO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 718 Central Ave CHARLOTTE, NC 28204 |
| Phone: | (704) 375-0183 |
| Fax: | (704) 376-2716 |
| Website: | https://www.skylacu.com |
| Branches: | 19 branch locations |
| Members: | 104,829 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24808 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,518,949,387 |
| CEO/Manager: | Eric Gelly |
| Chairperson: | Bruce Bellamy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 201,258,946 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 772,645,536 |
| Unsecured Loans | 105,829,113 |
| Other Loans | 319,111,432 |
| TOTAL LOANS | 1,200,576,304 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -12,748,633 |
| Land And Building | 42,790,981 |
| Other Fixed Assets | 5,222,375 |
| NCUSIF Deposit | 12,065,555 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,518,949,387 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 998,925 |
| Notes & Interest Payable | 50,000,000 |
| Accounts Payable & Other Liabilities | 19,830,993 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 237,763,220 |
| Regular shares | 336,320,270 |
| All Other Shares & Deposits | 733,468,215 |
| TOTAL SHARES & DEPOSITS | 1,307,551,705 |
| TOTAL LIABILITIES | 1,378,960,615 |
| Regular Reserve | 0 |
| Other Reserves | 52,661,672 |
| Undivided Earnings | 87,327,100 |
| TOTAL EQUITY | 139,988,772 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,518,949,387 |
| INCOME & EXPENSE | |
| Loan Income | 63,229,596 |
| Investment Income | 9,215,516 |
| Other Income | 14,303,272 |
| Total Employee Compensation & Benefits | 32,635,438 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,870,935 |
| Non-operating Income & (Expense) | -1,971,355 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,285,990 |
| Cost of Funds | 23,969,334 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,843,663 |
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