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.
Name: | NOVA CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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