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

Statement of Income

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

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