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National Credit Union Service Organization

NOVA CREDIT UNION

Dec, 31, 2023 — NOVA CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 5 branch locations and about $120.56 million in total assets. Opened 90 years ago in 1934, NOVA CREDIT UNION has about 11,277 members and employs 41 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253075031
Name:NOVA CREDIT UNION
Address:
(Main Office)
3601 Mulberry Church Rd
CHARLOTTE, NC 28208
Phone:(704) 392-3418
Fax:(704) 409-2220
Website:https://www.novacu.com
Branches:5 branch locations
Members:11,277
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63425
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:Sep 01, 2023
FHLB Member:Yes
Low Income Designation:No
Assets:$120,556,861
CEO/Manager:Michelle Hayes
Chairperson:Phillip Kridel

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 11,621,290
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 38,915,742
 Unsecured Loans 4,525,981
 Other Loans 26,159,023
 TOTAL LOANS 69,600,748
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -467,031
 Land And Building 4,281,618
 Other Fixed Assets 458,332
 NCUSIF Deposit 1,035,138
 All Other Assets 0
  TOTAL ASSETS 120,556,861
LIABILITIES & CAPITAL:  
 Dividends Payable 91,219
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,809,054
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 22,512,531
 Regular shares 47,032,574
 All Other Shares & Deposits 30,966,398
  TOTAL SHARES & DEPOSITS 100,511,503
  TOTAL LIABILITIES 103,422,382
 Regular Reserve 0
 Other Reserves 3,200,707
 Undivided Earnings 13,933,772
  TOTAL EQUITY 17,134,479
  TOTAL LIABILITIES, SHARES, & EQUITY 120,556,861
INCOME & EXPENSE  
 Loan Income 3,654,261
 Investment Income 1,042,940
 Other Income 1,361,418
 Total Employee Compensation & Benefits 3,022,844
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,578,128
 Non-operating Income & (Expense) 294,657
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 351,672
 Cost of Funds 457,689
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 179,961
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