Dec, 31, 2023 — TCP CREDIT UNION is a federally insured state chartered credit union headquartered in RURAL HALL, NC with 2 branch locations and about $14.40 million in total assets. Opened 44 years ago in 1980, TCP CREDIT UNION has about 1,945 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TCP CREDIT UNION |
|---|---|
| Address: (Main Office) | 3051 Westinghouse Rd RURAL HALL, NC 27045-9570 |
| Phone: | (336) 969-6518 |
| Fax: | (336) 969-9483 |
| Website: | https://tcpcu.org |
| Branches: | 2 branch locations |
| Members: | 1,945 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 65384 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1980 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $14,402,875 |
| CEO/Manager: | Barbara D Isaacs |
| Chairperson: | Keri B Shore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,133,807 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 500,775 |
| Unsecured Loans | 2,441,339 |
| Other Loans | 7,229,045 |
| TOTAL LOANS | 10,171,159 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -123,878 |
| Land And Building | 162,058 |
| Other Fixed Assets | 23,975 |
| NCUSIF Deposit | 98,067 |
| All Other Assets | 0 |
| TOTAL ASSETS | 14,402,875 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 50,206 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 75,211 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 650,661 |
| Regular shares | 4,229,801 |
| All Other Shares & Deposits | 6,753,190 |
| TOTAL SHARES & DEPOSITS | 11,633,651 |
| TOTAL LIABILITIES | 11,759,068 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 2,643,807 |
| TOTAL EQUITY | 2,643,807 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 14,402,875 |
| INCOME & EXPENSE | |
| Loan Income | 741,335 |
| Investment Income | 154,003 |
| Other Income | 16,989 |
| Total Employee Compensation & Benefits | 305,823 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 323,790 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,527 |
| Cost of Funds | 181,121 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 132,574 |
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