Dec, 31, 2023 — CLINCHFIELD FEDERAL CREDIT UNION is a federal credit union headquartered in ERWIN, TN with 1 branch location and about $121.60 million in total assets. Opened 77 years ago in 1947, CLINCHFIELD FEDERAL CREDIT UNION has about 6,452 members and employs 24 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CLINCHFIELD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1038 N Main Ave ERWIN, TN 37650 |
| Phone: | (423) 743-9192 |
| Fax: | (423) 743-6156 |
| Website: | https://www.clinchfieldcu.com |
| Branches: | 1 branch locations |
| Members: | 6,452 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5549 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation |
| Corporate Credit Union: | No |
| Year Opened: | 1947 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $121,595,690 |
| CEO/Manager: | Amy R Banks |
| Chairperson: | Wade Tilson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,648,788 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 36,765,670 |
| Unsecured Loans | 3,719,643 |
| Other Loans | 18,528,065 |
| TOTAL LOANS | 59,409,969 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -400,975 |
| Land And Building | 1,434,494 |
| Other Fixed Assets | 236,540 |
| NCUSIF Deposit | 1,052,276 |
| All Other Assets | 0 |
| TOTAL ASSETS | 121,595,690 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 182,155 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 14,946,781 |
| Regular shares | 58,855,886 |
| All Other Shares & Deposits | 34,222,225 |
| TOTAL SHARES & DEPOSITS | 108,024,893 |
| TOTAL LIABILITIES | 108,207,178 |
| Regular Reserve | 0 |
| Other Reserves | -1,089,265 |
| Undivided Earnings | 14,477,777 |
| TOTAL EQUITY | 13,388,512 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 121,595,690 |
| INCOME & EXPENSE | |
| Loan Income | 2,933,985 |
| Investment Income | 1,378,396 |
| Other Income | 317,380 |
| Total Employee Compensation & Benefits | 1,613,368 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,655,520 |
| Non-operating Income & (Expense) | -4,596 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 60,700 |
| Cost of Funds | 854,552 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,203,450 |
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