Dec, 31, 2023 — RELIANCE FEDERAL CREDIT UNION is a federal credit union headquartered in KING OF PRUSSIA, PA with 2 branch locations and about $33.90 million in total assets. Opened 84 years ago in 1940, RELIANCE FEDERAL CREDIT UNION has about 2,573 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RELIANCE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 20102 Valley Forge Cir KING OF PRUSSIA, PA 19406-1179 |
| Phone: | (610) 783-5229 |
| Fax: | (610) 783-6921 |
| Website: | https://www.reliancefcu.com |
| Branches: | 2 branch locations |
| Members: | 2,573 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4120 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $33,901,500 |
| CEO/Manager: | Douglas C Rumbaugh |
| Chairperson: | Susan Chally |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,855,982 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 10,097,201 |
| Unsecured Loans | 1,775,130 |
| Other Loans | 4,384,900 |
| TOTAL LOANS | 16,445,646 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -244,250 |
| Land And Building | 20,000 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 313,724 |
| All Other Assets | 0 |
| TOTAL ASSETS | 33,901,500 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 500,000 |
| Accounts Payable & Other Liabilities | 220,328 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,161,488 |
| Regular shares | 17,125,230 |
| All Other Shares & Deposits | 6,753,388 |
| TOTAL SHARES & DEPOSITS | 30,040,106 |
| TOTAL LIABILITIES | 30,760,434 |
| Regular Reserve | 0 |
| Other Reserves | -73,507 |
| Undivided Earnings | 3,214,573 |
| TOTAL EQUITY | 3,141,066 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 33,901,500 |
| INCOME & EXPENSE | |
| Loan Income | 853,432 |
| Investment Income | 511,780 |
| Other Income | 140,031 |
| Total Employee Compensation & Benefits | 568,185 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 563,661 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 67,639 |
| Cost of Funds | 113,094 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 401,401 |
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