Dec, 31, 2023 — GLATCO CREDIT UNION is a federally insured state chartered credit union headquartered in SPRING GROVE, PA with 3 branch locations and about $50.27 million in total assets. Opened 47 years ago in 1977, GLATCO CREDIT UNION has about 3,111 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GLATCO CREDIT UNION |
|---|---|
| Address: (Main Office) | 53 S Main St SPRING GROVE, PA 17362 |
| Phone: | (717) 225-4548 |
| Fax: | (717) 225-7383 |
| Website: | https://www.glatcocu.com |
| Branches: | 3 branch locations |
| Members: | 3,111 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63943 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1977 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $50,271,339 |
| CEO/Manager: | Brooke Bortner |
| Chairperson: | Michelle L Mummert |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,137,511 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,431,010 |
| Unsecured Loans | 3,147,161 |
| Other Loans | 5,475,396 |
| TOTAL LOANS | 11,053,566 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -197,913 |
| Land And Building | 137,609 |
| Other Fixed Assets | 84,582 |
| NCUSIF Deposit | 451,303 |
| All Other Assets | 191,486 |
| TOTAL ASSETS | 50,271,339 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 32,710 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,979,965 |
| Regular shares | 28,443,201 |
| All Other Shares & Deposits | 7,008,439 |
| TOTAL SHARES & DEPOSITS | 43,431,605 |
| TOTAL LIABILITIES | 43,464,315 |
| Regular Reserve | 0 |
| Other Reserves | -112,655 |
| Undivided Earnings | 6,919,679 |
| TOTAL EQUITY | 6,807,024 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 50,271,339 |
| INCOME & EXPENSE | |
| Loan Income | 500,240 |
| Investment Income | 930,172 |
| Other Income | 25,564 |
| Total Employee Compensation & Benefits | 340,935 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 596,409 |
| Non-operating Income & (Expense) | 10,968 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 48,082 |
| Cost of Funds | 96,463 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 538,151 |
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