Dec, 31, 2023 — BAYLANDS FAMILY CREDIT UNION is a federally insured state chartered credit union headquartered in WEST POINT, VA with 3 branch locations and about $89.82 million in total assets. Opened 78 years ago in 1946, BAYLANDS FAMILY CREDIT UNION has about 5,782 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | BAYLANDS FAMILY CREDIT UNION |
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Address: (Main Office) | 2004 MAIN STREET WEST POINT, VA 23181 |
Phone: | (804) 843-2520 |
Fax: | (804) 843-4859 |
Website: | https://www.baylandsfcu.org |
Branches: | 3 branch locations |
Members: | 5,782 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68686 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1946 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $89,817,968 |
CEO/Manager: | Teresa P Millis |
Chairperson: | George R Carter |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,111,230 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 19,275,932 |
Unsecured Loans | 6,127,080 |
Other Loans | 22,903,196 |
TOTAL LOANS | 48,702,686 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -620,031 |
Land And Building | 2,329,761 |
Other Fixed Assets | 464,035 |
NCUSIF Deposit | 864,944 |
All Other Assets | 7,691 |
TOTAL ASSETS | 89,817,968 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 97,316 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 450,402 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,948,137 |
Regular shares | 33,936,123 |
All Other Shares & Deposits | 30,141,423 |
TOTAL SHARES & DEPOSITS | 84,025,683 |
TOTAL LIABILITIES | 84,573,901 |
Regular Reserve | 0 |
Other Reserves | -1,808,353 |
Undivided Earnings | 7,052,420 |
TOTAL EQUITY | 5,244,067 |
TOTAL LIABILITIES, SHARES, & EQUITY | 89,817,968 |
INCOME & EXPENSE | |
Loan Income | 2,722,032 |
Investment Income | 348,853 |
Other Income | 586,764 |
Total Employee Compensation & Benefits | 1,585,918 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,658,713 |
Non-operating Income & (Expense) | 93,743 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 237,644 |
Cost of Funds | 494,975 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 432,587 |
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