Dec, 31, 2023 — GATEWAY CREDIT UNION is a federally insured state chartered credit union headquartered in CLARKSVILLE, TN with 1 branch location and about $13.61 million in total assets. Opened 65 years ago in 1959, GATEWAY CREDIT UNION has about 1,882 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GATEWAY CREDIT UNION |
|---|---|
| Address: (Main Office) | 100 Otis Smith Dr CLARKSVILLE, TN 37043-8939 |
| Phone: | (931) 551-8271 |
| Fax: | (931) 551-3357 |
| Website: | https://www.gatewaycreditunion.com |
| Branches: | 1 branch locations |
| Members: | 1,882 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68171 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $13,613,521 |
| CEO/Manager: | Annette Passe |
| Chairperson: | James C Watts |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,401,232 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,383,806 |
| Unsecured Loans | 1,664,651 |
| Other Loans | 6,201,435 |
| TOTAL LOANS | 9,249,892 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -119,478 |
| Land And Building | 848,012 |
| Other Fixed Assets | 69,039 |
| NCUSIF Deposit | 122,313 |
| All Other Assets | 264,575 |
| TOTAL ASSETS | 13,613,521 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 35,167 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 125,444 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,752,520 |
| Regular shares | 5,592,518 |
| All Other Shares & Deposits | 4,057,044 |
| TOTAL SHARES & DEPOSITS | 12,402,082 |
| TOTAL LIABILITIES | 12,562,693 |
| Regular Reserve | 0 |
| Other Reserves | 623,752 |
| Undivided Earnings | 427,076 |
| TOTAL EQUITY | 1,050,828 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 13,613,521 |
| INCOME & EXPENSE | |
| Loan Income | 510,177 |
| Investment Income | 103,570 |
| Other Income | 217,363 |
| Total Employee Compensation & Benefits | 299,746 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 398,832 |
| Non-operating Income & (Expense) | 29,606 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 83,342 |
| Cost of Funds | 60,567 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 18,229 |
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