Dec, 31, 2023 — CENTRAL VIRGINIA FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 5 branch locations and about $197.14 million in total assets. Opened 48 years ago in 1976, CENTRAL VIRGINIA FEDERAL CREDIT UNION has about 13,604 members and employs 49 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CENTRAL VIRGINIA FEDERAL CREDIT UNION |
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Address: (Main Office) | 1638 Mount Athos Rd LYNCHBURG, VA 24504-5429 |
Phone: | (434) 528-9016 |
Fax: | (434) 528-2647 |
Website: | https://www.cvfcu.com |
Branches: | 5 branch locations |
Members: | 13,604 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 22307 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1976 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $197,136,617 |
CEO/Manager: | Roger Carson |
Chairperson: | William Perrow |
ASSETS: | $ Amount |
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Cash & Equivalents | 14,529,782 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 48,221,644 |
Unsecured Loans | 20,256,901 |
Other Loans | 40,790,629 |
TOTAL LOANS | 109,269,174 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -931,283 |
Land And Building | 3,393,147 |
Other Fixed Assets | 1,485,481 |
NCUSIF Deposit | 1,813,440 |
All Other Assets | 0 |
TOTAL ASSETS | 197,136,617 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 4,882 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 1,812,908 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 43,421,005 |
Regular shares | 83,555,705 |
All Other Shares & Deposits | 50,602,085 |
TOTAL SHARES & DEPOSITS | 177,578,795 |
TOTAL LIABILITIES | 179,396,585 |
Regular Reserve | 0 |
Other Reserves | 0 |
Undivided Earnings | 17,740,032 |
TOTAL EQUITY | 17,740,032 |
TOTAL LIABILITIES, SHARES, & EQUITY | 197,136,617 |
INCOME & EXPENSE | |
Loan Income | 5,429,552 |
Investment Income | 2,191,505 |
Other Income | 1,519,985 |
Total Employee Compensation & Benefits | 3,142,614 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 4,088,997 |
Non-operating Income & (Expense) | 34,615 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 486,575 |
Cost of Funds | 643,374 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,041,823 |
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