Facts & Financials

Red Crown Credit Union Facts
Red Crown Credit Union Facts	As of December 2018
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	25,013
Total Assets	$207,040,976
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	2018	2017
Cash	10,846,739	19,551,164
Investments	13,821,126	14,539,074
Loans	170,945,859	150, 223,611
Allowance for Loan Loss	(979,635)	(733,094)
Other Assets	12,406,887	11,558,354
Total Assets	$207,040,976	$195,139,109
Liabilities and Member Equity
Member Shares and Certificates	170,789,252	166,452,906
Borrowed Funds	18,821,400	12,821,400
Other Liabilities	1,415,827	1,144,939
Total Liabilities	191,026,479	180,419,245
Member Equity	16,014,497	14,719,864
Total Liabilities and Equity	$207,040,976	$195,139,109

Red Crown Credit Union Statement of Income
Interest Income	2018	2017
Interest on Loans	7,770,174	6,630,620
Interest on Investments	441,730	721,350
Total Interest Income	$8,211,904	$7,351,970
Interest Expense
Member Shares and Certificates	1,178,679	819,319
Borrowings	295,907	168,779
Total Interest Expense	$1,474586	$988,098
Net Interest before Provision	6,737,318	6,363,872
Provision for Losses on Loans	(1,109,500)	(822,500)
Net Interest after Provision	$5,627,818	$5,541,372
Non-Interest Income	$2,833,889	$2,486,420
Non-Interest Expense
Compensation and Benefits	3,656,142	3,496,868
Office Occupancy and Operations	1,393,997	1,395,277
Other Expenses	2,147,380	1,825,736
Total Non-Interest Expense	7,197,519	6,717,881
Non-Operating Gain (Loss)	754	(192)
Net Income	$1,264,941	$1,309,719