Facts & Financials

Red Crown Credit Union Facts
Red Crown Credit Union Facts As of December 2019
Founded February 8, 1938
Organization Type A member-owned, not-for-profit cooperative financial institution.
Charter Federal
Regulatory Agency National Credit Union Administration (NCUA)
Board of Directors Nine Board Members. Elected to three year terms.
Total Membership 26,432
Total Assets $221,651,482
Number of Locations Four
Counties Served Eight
ATM Networks Transfund ATM Network
Insured By Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States government.

 

Red Crown Credit Union Financials
Statement of Condition

Red Crown Credit Union Financials
Statement of Condition
Assets 2019 2018
Cash 31,449,767 10,846,739
Investments 11,721,304 13,821,126
Loans 166,530,033 170,945,859
Allowance for Loan Loss (1,268,036) (979,635)
Other Assets 13,218,414 12,406,887
Total Assets $221,651,482 $207,040,976
Liabilities and Member Equity    
Member Shares and Certificates 191,631,871 170,789,252
Borrowed Funds 12,094,200 18,821,400
Other Liabilities 1,177,432 1,415,827
Total Liabilities 204,903,503 191,026,479
Member Equity 16,747,979 16,014,497
Total Liabilities and Equity $221,651,482 $207,040,976

Statement of Income

Red Crown Credit Union Statement of Income
Interest Income 2019 2018
Interest on Loans 8,831,118 7,770,174
Interest on Investments 741,957 441,730
Total Interest Income $9,573,075 $8,211,904
Interest Expense    
Member Shares and Certificates 2,069,066 1,178,679
Borrowings 364,032 295,907
Total Interest Expense $2,433,098 $1,474,586
Net Interest before Provision 7,139,977 6,737,318
Provision for Losses on Loans (1,612,700) (1,109,500)
Net Interest after Provision $5,527,277 $5,627,818
Non-Interest Income $2,670,378 $2,833,889
Non-Interest Expense    
Compensation and Benefits 3,970,530 3,656,142
Office Occupancy and Operations 1,597,782 1,393,997
Other Expenses 2,255,671 2,147,380
Total Non-Interest Expense 7,823,983 7,197,519
Non-Operating Gain (Loss) 429,855 754
Net Income $803,527 $1,264,941

 

Community Debit Cards

Community Debit Cards

Folds of Honor

Folds of Honor

Give on the Go

Give on the Go