Dec, 31, 2023 — BEACON CREDIT UNION, INC is a federally insured state chartered credit union headquartered in LYNCHBURG, VA with 9 branch locations and about $304.07 million in total assets. Opened 85 years ago in 1939, BEACON CREDIT UNION, INC has about 28,177 members and employs 86 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BEACON CREDIT UNION, INC |
---|---|
Address: (Main Office) | 107 Leroy Bowen Dr LYNCHBURG, VA 24502 |
Phone: | (434) 237-1566 |
Fax: | (434) 237-1544 |
Website: | https://www.mybcu.org |
Branches: | 9 branch locations |
Members: | 28,177 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 66965 |
---|---|
Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $304,066,968 |
CEO/Manager: | Greg McConville |
Chairperson: | Philip A Hynes |
ASSETS: | $ Amount |
---|---|
Cash & Equivalents | 22,918,329 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 55,175,095 |
Unsecured Loans | 25,602,475 |
Other Loans | 176,745,526 |
TOTAL LOANS | 257,523,096 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -898,707 |
Land And Building | 8,324,208 |
Other Fixed Assets | 985,414 |
NCUSIF Deposit | 2,488,944 |
All Other Assets | 196,978 |
TOTAL ASSETS | 304,066,968 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 346,741 |
Notes & Interest Payable | 9,000,000 |
Accounts Payable & Other Liabilities | 1,616,290 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 46,168,136 |
Regular shares | 86,818,189 |
All Other Shares & Deposits | 127,106,928 |
TOTAL SHARES & DEPOSITS | 260,093,253 |
TOTAL LIABILITIES | 271,056,284 |
Regular Reserve | 0 |
Other Reserves | 10,817,111 |
Undivided Earnings | 22,193,573 |
TOTAL EQUITY | 33,010,684 |
TOTAL LIABILITIES, SHARES, & EQUITY | 304,066,968 |
INCOME & EXPENSE | |
Loan Income | 14,711,403 |
Investment Income | 962,153 |
Other Income | 3,814,061 |
Total Employee Compensation & Benefits | 6,420,411 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 5,598,124 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 789,000 |
Cost of Funds | 3,831,270 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 3,952,070 |
↑ Back to Top |