| 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
| 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 |
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 |
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