Dec, 31, 2023 — FEDTRUST FEDERAL CREDIT UNION is a federal credit union headquartered in MEMPHIS, TN with 4 branch locations and about $47.88 million in total assets. Opened 65 years ago in 1959, FEDTRUST FEDERAL CREDIT UNION has about 3,186 members and employs 10 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FEDTRUST FEDERAL CREDIT UNION |
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Address: (Main Office) | 167 N Main St Ste 102 MEMPHIS, TN 38103-1867 |
Phone: | (901) 526-6778 |
Fax: | (901) 526-8667 |
Website: | https://www.fedtrustfcu.com |
Branches: | 4 branch locations |
Members: | 3,186 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 13233 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1959 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $47,883,912 |
CEO/Manager: | Richard A Ussery |
Chairperson: | David E Sirmans |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,393,414 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 21,093,725 |
Unsecured Loans | 3,015,376 |
Other Loans | 17,135,202 |
TOTAL LOANS | 41,244,303 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -208,390 |
Land And Building | 0 |
Other Fixed Assets | 229,366 |
NCUSIF Deposit | 432,488 |
All Other Assets | 79,308 |
TOTAL ASSETS | 47,883,912 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 689,099 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 7,535,765 |
Regular shares | 19,156,665 |
All Other Shares & Deposits | 16,968,732 |
TOTAL SHARES & DEPOSITS | 43,661,162 |
TOTAL LIABILITIES | 44,430,261 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 3,453,651 |
TOTAL EQUITY | 3,453,651 |
TOTAL LIABILITIES, SHARES, & EQUITY | 47,883,912 |
INCOME & EXPENSE | |
Loan Income | 1,826,716 |
Investment Income | 329,227 |
Other Income | 419,171 |
Total Employee Compensation & Benefits | 1,005,175 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 954,450 |
Non-operating Income & (Expense) | 25,630 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 52,000 |
Cost of Funds | 348,610 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 269,449 |
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