Facts & Financials

Red Crown Credit Union Facts
Red Crown Credit Union Facts As of December 2020
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 2020 2019
Cash 38,873,249 31,449,767
Investments 30,129,183 11,721,304
Loans 160,305,889 166,530,033
Allowance for Loan Loss (1,257,018) (1,268,036)
Other Assets 12,844,009 13,218,414
Total Assets $240,895,312 $221,651,482
Liabilities and Member Equity    
Member Shares and Certificates 210,647,427 191,631,871
Borrowed Funds 10,047,100 12,094,200
Other Liabilities 1,849,525 1,177,432
Total Liabilities 222,544,052 204,903,503
Member Equity 18,351,261 16,747,979
Total Liabilities and Equity $240,895,312 $221,651,482

Statement of Income

Red Crown Credit Union Statement of Income
Interest Income 2020 2019
Interest on Loans 8,456,298 8,831,118
Interest on Investments 469,795 741,957
Total Interest Income $8,926,094 $9,573,075
Interest Expense    
Member Shares and Certificates 1,590,564 2,069,066
Borrowings 289,204 364,032
Total Interest Expense $1,879,767 $2,433,098
Net Interest before Provision 7,046,326 7,139,977
Provision for Losses on Loans (1,272,000) (1,612,700)
Net Interest after Provision $5,774,326 $5,527,277
Non-Interest Income $2,373,751 $2,670,378
Non-Interest Expense    
Compensation and Benefits 3,967,182 3,970,530
Office Occupancy and Operations 1,682,509 1,597,782
Other Expenses 2,123,328 2,255,671
Total Non-Interest Expense 7,773,019 7,823,983
Non-Operating Gain (Loss) 897,457 429,855
Net Income $1,272,516 $803,527

 

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