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TELCO CREDIT UNION

Dec, 31, 2023 — TELCO CREDIT UNION is a federally insured state chartered credit union headquartered in TARBORO, NC with 2 branch locations and about $52.00 million in total assets. Opened 83 years ago in 1941, TELCO CREDIT UNION has about 6,404 members and employs 21 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:TELCO CREDIT UNION
Address:
(Main Office)
1720 Barlow Rd
TARBORO, NC 27886
Phone:(252) 823-0119
Fax:(252) 823-1001
Website:https://www.telcu.com
Branches:2 branch locations
Members:6,404
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66319
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1941
Last Audited:Mar 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$52,003,379
CEO/Manager:Charles L Johnson
Chairperson:June G Carlisle

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 6,774,051
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 9,849,699
 Unsecured Loans 4,761,228
 Other Loans 22,695,385
 TOTAL LOANS 37,306,312
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -628,000
 Land And Building 2,037,581
 Other Fixed Assets 410,825
 NCUSIF Deposit 398,012
 All Other Assets 67,700
  TOTAL ASSETS 52,003,379
LIABILITIES & CAPITAL:  
 Dividends Payable 26,013
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 389,718
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 5,153,947
 Regular shares 17,743,223
 All Other Shares & Deposits 21,764,383
  TOTAL SHARES & DEPOSITS 44,661,556
  TOTAL LIABILITIES 45,077,287
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 6,926,092
  TOTAL EQUITY 6,926,092
  TOTAL LIABILITIES, SHARES, & EQUITY 52,003,379
INCOME & EXPENSE  
 Loan Income 2,451,809
 Investment Income 315,150
 Other Income 525,115
 Total Employee Compensation & Benefits 1,296,819
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,348,410
 Non-operating Income & (Expense) 8,058
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 440,177
 Cost of Funds 381,330
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 102,644
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