Facts & Financials

Red Crown Credit Union Facts
Red Crown Credit Union Facts As of December 2021
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 Seven Board Members. Elected to three year terms.
Total Membership 24,844
Total Assets $272,453,383
Number of Locations Five
Counties Served Eight
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 2021 2020
Cash 27,900,958 38,873,249
Investments 65,286,872 30,129,183
Loans 168,037,178 160,305,889
Allowance for Loan Loss (868,065) (1,257,018)
Other Assets 12,096,439 12,844,009
Total Assets $272,453,383 $240,895,312
Liabilities and Member Equity    
Member Shares and Certificates 242,686,549 210,647,427
Borrowed Funds 9,000,000 10,047,100
Other Liabilities 1,388,227 1,849,525
Total Liabilities 253,074,776 222,544,052
Member Equity 19,378,607 18,351,261
Total Liabilities and Equity $272,453,383 $240,895,312

Statement of Income

Red Crown Credit Union Statement of Income
Interest Income 2021 2020
Interest on Loans 7,719,001 8,456,343
Interest on Investments 796,653 469,795
Total Interest Income $8,515,655 $8,926,138
Interest Expense    
Member Shares and Certificates 841,327 1,590,564
Borrowings 270,170 289,204
Total Interest Expense $1,111,497 $1,879,767
Net Interest before Provision 7,404,158 7,046,371
Provision for Losses on Loans (290,250) (1,272,000)
Net Interest after Provision $7,113,908 $5,774,371
Non-Interest Income $2,622,657 $2,373,706
Non-Interest Expense    
Compensation and Benefits 4,594,666 3,967,182
Office Occupancy and Operations 1,919,784 1,682,479
Other Expenses 2,312,853 2,123,358
Total Non-Interest Expense 8,827,303 7,773,019
Non-Operating Gain (Loss) 1,395,320 897,457
Net Income $2,304,582 $1,272,516