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FEDTRUST FEDERAL CREDIT UNION

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
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
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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
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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