Dec, 31, 2023 — K V FEDERAL CREDIT UNION is a federal credit union headquartered in AUGUSTA, ME with 3 branch locations and about $119.85 million in total assets. Opened 62 years ago in 1962, K V FEDERAL CREDIT UNION has about 11,000 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | K V FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 316 W River RD AUGUSTA, ME 04330-3992 |
| Phone: | (207) 623-5171 |
| Fax: | (207) 623-5341 |
| Website: | https://www.kvfcu.org |
| Branches: | 3 branch locations |
| Members: | 11,000 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15328 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $119,847,824 |
| CEO/Manager: | Christine L Devine |
| Chairperson: | Daniel Nichols |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,161,683 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 32,803,723 |
| Unsecured Loans | 2,123,443 |
| Other Loans | 39,616,197 |
| TOTAL LOANS | 74,543,363 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -68,489 |
| Land And Building | 3,678,231 |
| Other Fixed Assets | 314,027 |
| NCUSIF Deposit | 1,065,737 |
| All Other Assets | 0 |
| TOTAL ASSETS | 119,847,824 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 507,205 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,251,864 |
| Regular shares | 46,509,655 |
| All Other Shares & Deposits | 37,489,757 |
| TOTAL SHARES & DEPOSITS | 106,251,276 |
| TOTAL LIABILITIES | 106,758,481 |
| Regular Reserve | 0 |
| Other Reserves | 2,003,573 |
| Undivided Earnings | 11,085,770 |
| TOTAL EQUITY | 13,089,343 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 119,847,824 |
| INCOME & EXPENSE | |
| Loan Income | 3,605,190 |
| Investment Income | 1,333,518 |
| Other Income | 624,445 |
| Total Employee Compensation & Benefits | 1,759,434 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,430,266 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 73,524 |
| Cost of Funds | 598,460 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,465,425 |
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