Dec, 31, 2023 — S C I FEDERAL CREDIT UNION is a federal credit union headquartered in FLORENCE, SC with 1 branch location and about $23.07 million in total assets. Opened 59 years ago in 1965, S C I FEDERAL CREDIT UNION has about 1,540 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | S C I FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 812 2nd Loop Rd FLORENCE, SC 29505-2828 |
| Phone: | (843) 669-3712 |
| Fax: | (843) 669-3851 |
| Website: | https://www.scifcu.com |
| Branches: | 1 branch locations |
| Members: | 1,540 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16655 |
|---|---|
| Membership Type: | Manufacturing - All Other |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Sep 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $23,065,302 |
| CEO/Manager: | Robert E Seastrunk |
| Chairperson: | DANIEL L BROACH |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,281,029 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 110,986 |
| Unsecured Loans | 1,678,442 |
| Other Loans | 8,109,260 |
| TOTAL LOANS | 9,898,688 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -74,696 |
| Land And Building | 0 |
| Other Fixed Assets | 16,582 |
| NCUSIF Deposit | 203,998 |
| All Other Assets | 45,000 |
| TOTAL ASSETS | 23,065,302 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 73,793 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 170,123 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,495,814 |
| Regular shares | 13,743,815 |
| All Other Shares & Deposits | 2,322,011 |
| TOTAL SHARES & DEPOSITS | 19,561,640 |
| TOTAL LIABILITIES | 19,811,575 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 3,253,727 |
| TOTAL EQUITY | 3,253,727 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 23,065,302 |
| INCOME & EXPENSE | |
| Loan Income | 566,314 |
| Investment Income | 430,504 |
| Other Income | 75,305 |
| Total Employee Compensation & Benefits | 303,756 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 457,455 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 7,666 |
| Cost of Funds | 195,102 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 142,356 |
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