Dec, 31, 2023 — FORTERA FEDERAL CREDIT UNION is a federal credit union headquartered in CLARKSVILLE, TN with 8 branch locations and about $875.52 million in total assets. Opened 70 years ago in 1954, FORTERA FEDERAL CREDIT UNION has about 78,130 members and employs 195 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FORTERA FEDERAL CREDIT UNION |
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Address: (Main Office) | 2050 Lowes Dr CLARKSVILLE, TN 37040-1620 |
Phone: | (931) 431-6800 |
Fax: | (931) 431-4387 |
Website: | https://forteracu.com |
Branches: | 8 branch locations |
Members: | 78,130 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9759 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1954 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $875,517,151 |
CEO/Manager: | Jennifer Ventimiglia |
Chairperson: | Rick Hackwell |
ASSETS: | $ Amount |
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Cash & Equivalents | 98,930,689 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 329,973,157 |
Unsecured Loans | 54,339,463 |
Other Loans | 280,458,944 |
TOTAL LOANS | 664,771,564 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,224,443 |
Land And Building | 14,636,527 |
Other Fixed Assets | 5,283,994 |
NCUSIF Deposit | 6,489,262 |
All Other Assets | 837,966 |
TOTAL ASSETS | 875,517,151 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 1,895,342 |
Notes & Interest Payable | 70,000,000 |
Accounts Payable & Other Liabilities | 13,781,542 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 160,789,888 |
Regular shares | 171,082,989 |
All Other Shares & Deposits | 362,918,813 |
TOTAL SHARES & DEPOSITS | 694,791,690 |
TOTAL LIABILITIES | 780,850,020 |
Regular Reserve | 0 |
Other Reserves | -2,106,718 |
Undivided Earnings | 96,773,849 |
TOTAL EQUITY | 94,667,131 |
TOTAL LIABILITIES, SHARES, & EQUITY | 875,517,151 |
INCOME & EXPENSE | |
Loan Income | 38,518,355 |
Investment Income | 4,445,250 |
Other Income | 7,888,369 |
Total Employee Compensation & Benefits | 19,867,199 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 19,431,412 |
Non-operating Income & (Expense) | 799,940 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 4,007,327 |
Cost of Funds | 11,626,599 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,168,511 |
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