Dec, 31, 2023 — ERIE FEDERAL CREDIT UNION is a federal credit union headquartered in ERIE, PA with 12 branch locations and about $779.45 million in total assets. Opened 88 years ago in 1936, ERIE FEDERAL CREDIT UNION has about 76,010 members and employs 213 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ERIE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3503 Peach St ERIE, PA 16508 |
| Phone: | (814) 825-2436 |
| Fax: | (814) 897-2363 |
| Website: | https://www.eriefcu.org |
| Branches: | 12 branch locations |
| Members: | 76,010 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1476 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $779,445,947 |
| CEO/Manager: | Brian Waugaman |
| Chairperson: | Laurie Becker |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,344,683 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 214,584,594 |
| Unsecured Loans | 39,219,494 |
| Other Loans | 243,554,623 |
| TOTAL LOANS | 497,358,711 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,610,328 |
| Land And Building | 21,443,040 |
| Other Fixed Assets | 1,742,568 |
| NCUSIF Deposit | 7,099,698 |
| All Other Assets | 0 |
| TOTAL ASSETS | 779,445,947 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 1,000,000 |
| Accounts Payable & Other Liabilities | 1,701,678 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 144,391,161 |
| Regular shares | 271,893,544 |
| All Other Shares & Deposits | 315,456,581 |
| TOTAL SHARES & DEPOSITS | 731,741,286 |
| TOTAL LIABILITIES | 734,442,964 |
| Regular Reserve | 0 |
| Other Reserves | -22,284,263 |
| Undivided Earnings | 67,287,246 |
| TOTAL EQUITY | 45,002,983 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 779,445,947 |
| INCOME & EXPENSE | |
| Loan Income | 27,374,281 |
| Investment Income | 6,806,675 |
| Other Income | 5,007,492 |
| Total Employee Compensation & Benefits | 14,127,722 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,277,525 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,912,703 |
| Cost of Funds | 11,214,801 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 516,092 |
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