Dec, 31, 2023 — FREEDOM CREDIT UNION is a federally insured state chartered credit union headquartered in PROVO, UT with 2 branch locations and about $61.13 million in total assets. Opened 68 years ago in 1956, FREEDOM CREDIT UNION has about 4,077 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: | FREEDOM CREDIT UNION |
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Address: (Main Office) | 815 N Freedom Blvd PROVO, UT 84604-3315 |
Phone: | (801) 375-2120 |
Fax: | (801) 377-0435 |
Website: | https://www.freedomcu.com/ |
Branches: | 2 branch locations |
Members: | 4,077 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 67129 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1956 |
Last Audited: | Aug 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $61,133,641 |
CEO/Manager: | Ken Payne |
Chairperson: | Thomas L Crabb |
ASSETS: | $ Amount |
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Cash & Equivalents | 1,316,574 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 21,947,564 |
Unsecured Loans | 1,205,062 |
Other Loans | 23,334,194 |
TOTAL LOANS | 46,486,820 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -247,757 |
Land And Building | 3,507,330 |
Other Fixed Assets | 409,837 |
NCUSIF Deposit | 529,095 |
All Other Assets | 21,682 |
TOTAL ASSETS | 61,133,641 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 87,061 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 667,590 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 9,850,196 |
Regular shares | 21,598,470 |
All Other Shares & Deposits | 22,499,549 |
TOTAL SHARES & DEPOSITS | 53,948,214 |
TOTAL LIABILITIES | 54,702,865 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 6,430,776 |
TOTAL EQUITY | 6,430,776 |
TOTAL LIABILITIES, SHARES, & EQUITY | 61,133,641 |
INCOME & EXPENSE | |
Loan Income | 2,299,622 |
Investment Income | 253,996 |
Other Income | 140,228 |
Total Employee Compensation & Benefits | 813,085 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 910,065 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 112,500 |
Cost of Funds | 757,407 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 384,515 |
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