Dec, 31, 2023 — FARMWAY CREDIT UNION is a federally insured state chartered credit union headquartered in BELOIT, KS with 4 branch locations and about $98.31 million in total assets. Opened 74 years ago in 1950, FARMWAY CREDIT UNION has about 7,514 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FARMWAY CREDIT UNION |
|---|---|
| Address: (Main Office) | 200 S Hersey Ave BELOIT, KS 67420 |
| Phone: | (785) 738-2224 |
| Fax: | (785) 738-4313 |
| Website: | https://www.farmwaycu.com |
| Branches: | 4 branch locations |
| Members: | 7,514 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63374 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $98,312,879 |
| CEO/Manager: | Joseph A Deneke |
| Chairperson: | Pamela B Krier |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,275,270 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 33,671,160 |
| Unsecured Loans | 1,083,080 |
| Other Loans | 26,701,649 |
| TOTAL LOANS | 61,455,889 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -866,629 |
| Land And Building | 618,138 |
| Other Fixed Assets | 198,256 |
| NCUSIF Deposit | 752,598 |
| All Other Assets | 0 |
| TOTAL ASSETS | 98,312,879 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 65,448 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 466,771 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 18,177,245 |
| Regular shares | 39,484,869 |
| All Other Shares & Deposits | 18,196,568 |
| TOTAL SHARES & DEPOSITS | 75,858,682 |
| TOTAL LIABILITIES | 76,390,901 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 21,921,978 |
| TOTAL EQUITY | 21,921,978 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 98,312,879 |
| INCOME & EXPENSE | |
| Loan Income | 3,316,081 |
| Investment Income | 655,216 |
| Other Income | 600,999 |
| Total Employee Compensation & Benefits | 2,421,756 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,260,905 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 72,759 |
| Cost of Funds | 356,819 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 489,084 |
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