Dec, 31, 2023 — NEW SOUTH CREDIT UNION is a federally insured state chartered credit union headquartered in KNOXVILLE, TN with 3 branch locations and about $74.83 million in total assets. Opened 72 years ago in 1952, NEW SOUTH CREDIT UNION has about 6,718 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: | NEW SOUTH CREDIT UNION |
|---|---|
| Address: (Main Office) | 3261 N Mall Rd KNOXVILLE, TN 37924 |
| Phone: | (865) 523-0757 |
| Fax: | |
| Website: | https://www.newsouthcu.com |
| Branches: | 3 branch locations |
| Members: | 6,718 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60645 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $74,831,748 |
| CEO/Manager: | Richard Schulz |
| Chairperson: | Mack Mull |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,319,364 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 5,412,162 |
| Unsecured Loans | 4,312,737 |
| Other Loans | 25,377,339 |
| TOTAL LOANS | 35,828,328 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -334,274 |
| Land And Building | 2,884,063 |
| Other Fixed Assets | 95,312 |
| NCUSIF Deposit | 606,904 |
| All Other Assets | 5,500 |
| TOTAL ASSETS | 74,831,748 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 530,748 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 12,021,835 |
| Regular shares | 32,310,689 |
| All Other Shares & Deposits | 19,041,349 |
| TOTAL SHARES & DEPOSITS | 63,373,873 |
| TOTAL LIABILITIES | 63,904,621 |
| Regular Reserve | 0 |
| Other Reserves | 299,017 |
| Undivided Earnings | 10,628,110 |
| TOTAL EQUITY | 10,927,127 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 74,831,748 |
| INCOME & EXPENSE | |
| Loan Income | 1,813,244 |
| Investment Income | 654,948 |
| Other Income | 203,370 |
| Total Employee Compensation & Benefits | 1,304,325 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 974,034 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 47,477 |
| Cost of Funds | 402,553 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 530,587 |
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