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CARO FEDERAL CREDIT UNION

Dec, 31, 2023 — CARO FEDERAL CREDIT UNION is a federal credit union headquartered in COLUMBIA, SC with 3 branch locations and about $123.83 million in total assets. Opened 57 years ago in 1967, CARO FEDERAL CREDIT UNION has about 7,616 members and employs 25 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253978824
Name:CARO FEDERAL CREDIT UNION
Address:
(Main Office)
4480 Rosewood Dr
COLUMBIA, SC 29209-2629
Phone:(803) 227-5555
Fax:(803) 227-5566
Website:https://www.smartcaro.org
Branches:3 branch locations
Members:7,616
Credit Union Type:Federal Credit Union
Charter Number:24404
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1967
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$123,828,957
CEO/Manager:Anne Shivers
Chairperson:David Black

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 4,001,769
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 50,868,935
 Unsecured Loans 5,883,414
 Other Loans 30,354,610
 TOTAL LOANS 87,351,787
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -1,003,172
 Land And Building 3,282,749
 Other Fixed Assets 452,246
 NCUSIF Deposit 1,011,286
 All Other Assets 145,270
  TOTAL ASSETS 123,828,957
LIABILITIES & CAPITAL:  
 Dividends Payable 12,387
 Notes & Interest Payable 6,500,000
 Accounts Payable & Other Liabilities 1,832,677
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 33,982,331
 Regular shares 56,040,349
 All Other Shares & Deposits 9,676,841
  TOTAL SHARES & DEPOSITS 99,699,521
  TOTAL LIABILITIES 108,044,585
 Regular Reserve 0
 Other Reserves 14,392
 Undivided Earnings 15,769,980
  TOTAL EQUITY 15,784,372
  TOTAL LIABILITIES, SHARES, & EQUITY 123,828,957
INCOME & EXPENSE  
 Loan Income 5,101,906
 Investment Income 420,796
 Other Income 1,369,497
 Total Employee Compensation & Benefits 2,307,694
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,638,396
 Non-operating Income & (Expense) -24,829
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 220,525
 Cost of Funds 406,284
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 917,519
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