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SHERCHEM FEDERAL CREDIT UNION

Dec, 31, 2023 — SHERCHEM FEDERAL CREDIT UNION is a federal credit union headquartered in Ashtabula, OH with 1 branch location and about $3.34 million in total assets. Opened 54 years ago in 1970, SHERCHEM FEDERAL CREDIT UNION has about 449 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:SHERCHEM FEDERAL CREDIT UNION
Address:
(Main Office)
2900 Middle Rd., P.O. Box 310
Ashtabula, OH 44004
Phone:(440) 994-1598
Fax:(440) 994-1950
Website:n/a
Branches:1 branch locations
Members:449
Credit Union Type:Federal Credit Union
Charter Number:19920
Membership Type:Manufacturing - Chemicals
Corporate Credit Union:No
Year Opened:1970
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$3,340,172
CEO/Manager:Marilyn H Pifer
Chairperson:George Ferl

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,421,464
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 31,521
 Other Loans 1,436,813
 TOTAL LOANS 1,468,334
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -2,103
 Land And Building 0
 Other Fixed Assets 3,295
 NCUSIF Deposit 25,364
 All Other Assets 0
  TOTAL ASSETS 3,340,172
LIABILITIES & CAPITAL:  
 Dividends Payable 342
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,717
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 2,871,330
 All Other Shares & Deposits 0
  TOTAL SHARES & DEPOSITS 2,871,330
  TOTAL LIABILITIES 2,873,389
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 466,783
  TOTAL EQUITY 466,783
  TOTAL LIABILITIES, SHARES, & EQUITY 3,340,172
INCOME & EXPENSE  
 Loan Income 13,953
 Investment Income 1,058
 Other Income 392
 Total Employee Compensation & Benefits 12,488
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,242
 Non-operating Income & (Expense) 2
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 342
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -2,667
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