| 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
| 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
| 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 |
Fall Signature Loan Special
Give on the Go
