Credit Unions Near Me
National Credit Union Service Organization

BEACON CREDIT UNION, INC

Dec, 31, 2023 — BEACON CREDIT UNION, INC is a federally insured state chartered credit union headquartered in LYNCHBURG, VA with 9 branch locations and about $304.07 million in total assets. Opened 85 years ago in 1939, BEACON CREDIT UNION, INC has about 28,177 members and employs 86 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BEACON CREDIT UNION, INC
Address:
(Main Office)
107 Leroy Bowen Dr
LYNCHBURG, VA 24502
Phone:(434) 237-1566
Fax:(434) 237-1544
Website:https://www.mybcu.org
Branches:9 branch locations
Members:28,177
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66965
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$304,066,968
CEO/Manager:Greg McConville
Chairperson:Philip A Hynes

Call Report

  • Credit Builder

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 22,918,329
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 55,175,095
 Unsecured Loans 25,602,475
 Other Loans 176,745,526
 TOTAL LOANS 257,523,096
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -898,707
 Land And Building 8,324,208
 Other Fixed Assets 985,414
 NCUSIF Deposit 2,488,944
 All Other Assets 196,978
  TOTAL ASSETS 304,066,968
LIABILITIES & CAPITAL:  
 Dividends Payable 346,741
 Notes & Interest Payable 9,000,000
 Accounts Payable & Other Liabilities 1,616,290
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 46,168,136
 Regular shares 86,818,189
 All Other Shares & Deposits 127,106,928
  TOTAL SHARES & DEPOSITS 260,093,253
  TOTAL LIABILITIES 271,056,284
 Regular Reserve 0
 Other Reserves 10,817,111
 Undivided Earnings 22,193,573
  TOTAL EQUITY 33,010,684
  TOTAL LIABILITIES, SHARES, & EQUITY 304,066,968
INCOME & EXPENSE  
 Loan Income 14,711,403
 Investment Income 962,153
 Other Income 3,814,061
 Total Employee Compensation & Benefits 6,420,411
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 5,598,124
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 789,000
 Cost of Funds 3,831,270
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,952,070
↑ Back to Top

Other Credit Unions

GLAMORGAN EMPLOYEES FEDERAL CREDIT UNION
21 7th St
LYNCHBURG, VA 24504-1323
YOGAVILLE FEDERAL CREDIT UNION
1430 Woodland Church Rd
BUCKINGHAM, VA 23921-2234
STAR CITY FEDERAL CREDIT UNION
7635 Plantation Rd
ROANOKE, VA 24019
CRCH EMPLOYEES FEDERAL CREDIT UNION
109 Highland Ave SW
ROANOKE, VA 24016-4413
HIGH STREET BAPTIST CHURCH FEDERAL CREDIT UNION
2302 Florida Ave NW
ROANOKE, VA 24017
LYNCHBURG MUNICIPAL EMPLOYEES FEDERAL CREDIT UNION
3176 Fort Ave
LYNCHBURG, VA 24501
FEDSTAR FEDERAL CREDIT UNION
2 W Main St
SALEM, VA 24153
KEMBA ROANOKE FEDERAL CREDIT UNION
2812 W MAIN ST
SALEM, VA 24153
SALEM VA MEDICAL CENTER FEDERAL CREDIT UNION
112 W Main St
SALEM, VA 24153
CENTRAL VIRGINIA FEDERAL CREDIT UNION
1638 Mount Athos Rd
LYNCHBURG, VA 24504-5429