March Newsletter

PRR SOUTH FORK FEDERAL CREDIT UNION

PRR’s top priority is the safety of our Members, Directors and Staff. In Accordance with CDC guidance, our 84th Annual Dinner Meeting Will be Rescheduled for a later date.

We Apologize for the Inconvenience

IMPORTANT NOTICE TO THE MEMBERS OF

PRR South Fork Federal Credit Union

AS REQUIRED BY NCUA REGULATIONS, THE SUPERVISORY COMMITTEE HAS GIVEN NOTICE TO ALL MEMBERS REQUESTING YOU TO VERIFY THAT YOUR BALANCES LISTED ON YOUR MONTHLY STATEMENT AGREE WITH YOUR RECORDS. IF YOU DO NOT RECEIVED NOTICE, OR IF THE BALANCES DO NOT AGREE, PLEASE CONTACT THE SUPERVISORY CHAIRMAN.

Ms. Pamela J. Hysong
112 Chestnut Street
New Florence, PA 15944

(724) 235-2686

PRR South Fork Federal Credit Union Financial Report 12/31/2019

ASSETS

  • Loans Outstanding $ 10,937,182.38
  • Less Allowance for Loan Loss: ($35,020.67)
  • Cash on Hand & Checking: $2,503,136.83
  • Investments: $31,242,288.25
  • Prepaid Expenses: $86,237.51
  • Fixed Assets: $604,629.24
  • Accrued Income: $46,143.84
  • Other Assets: $391,414.83
  • Total Assets: $45,776,012.21

EXPENSES

  • Salaries: $253,151.34
  • Employee Benefits: $46,924.15
  • Travel & Conference: $341.67
  • Association Dues: $30,571.00
  • Office Occupancy: $65,295.85
  • Educational & Promo: $3,320.21
  • Loan Servicing: $20,975.42
  • Professional Services: $31,534.75
  • Provision for Loan Loss: $22,908.63
  • Exam & Supervision Fees : $19,731.45
  • Annual Meeting Expense: $1,615.17
  • Miscellaneous Expense: $4,367.64
  • Gain on DispFixed Asset: $1,380.00
  • Total Expenses: $583,029.71

LIABILITIES

  • Shares: $31,452,344.24
  • IRA Accounts: $3,710,969.96
  • Share Drafts: $2,407,122.17
  • Club Accounts: $223,643.67
  • Dividends Authorized: $88,901.97
  • Accounts Payable: $35,368.11
  • Reserves & Undiv. Earnings: $7,857,662.09
  • Total Liabilities: $45,776,012.21

INCOME

  • Interest collected on Loans : $399,758.07
  • Interest Refunds: ($122.27)
  • Income from Investments: $758,229.11
  • Miscellaneous Income: $42,151.98
  • Total Income $1,200,016.89

DISTRIBUTION OF INCOME

  • Operating Expense: $583,029.71
  • Dividends Payable: $351,174.41
  • Reserve/Undiv Earnings: $265,812.77
  • Total Distribution $ 1,200,016.89

YOUR BOARD OF DIRECTORS IS PLEASED TO ANNOUNCE THE 1 ST QUARTER 2020 DIVIDENDS.

Savings Rates

  • .451% APY on amounts up to $2,000
  • .602% APY from $2,001 to $10,000
  • .803% APY from $10,001 to $30,000
  • 1.055% APY on amounts over $30,000

IRA’s – Regular & Roth

  • .803% APY on amounts up to $15,000
  • 1.055% APY on amounts over $30,000
  • Checking Accounts .451% APY on $250 +

Loan Rates APR

  • Share Secured 2.49%
  • New Auto /Cycles 2019 – 2020 – 2.75%
  • Used Auto/Cycles 2017 – 2019 – 3.25%
  • Older Auto 2014 – 2016 – 4.25%
  • Boat, Rec Vehicle 5.75%
  • ATV Loan 8.99%
  • Fuel Special 7.00%
  • Sewer Project 5.99%
  • 1st Mortgage – 4.25%
  • 5 yr Home Equity – 3.75%
  • 10 yr Home Equity – 4.49%

** Real Estate secured loans subject to change as per FFIEC Average Prime Offer Rates**