Dec, 31, 2023 — FIRST NRV FEDERAL CREDIT UNION is a federal credit union headquartered in RADFORD, VA with 2 branch locations and about $39.89 million in total assets. Opened 87 years ago in 1937, FIRST NRV FEDERAL CREDIT UNION has about 2,967 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST NRV FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 900 W Main St RADFORD, VA 24141-1597 |
| Phone: | (540) 639-0885 |
| Fax: | (540) 639-0512 |
| Website: | https://www.firstnrvcreditunion.com |
| Branches: | 2 branch locations |
| Members: | 2,967 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 2263 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $39,893,406 |
| CEO/Manager: | Owen C McKinnie |
| Chairperson: | Stanley Moore |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,940,279 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,252,563 |
| Unsecured Loans | 2,628,644 |
| Other Loans | 6,446,360 |
| TOTAL LOANS | 26,327,567 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -339,813 |
| Land And Building | 229,131 |
| Other Fixed Assets | 34,451 |
| NCUSIF Deposit | 373,907 |
| All Other Assets | 0 |
| TOTAL ASSETS | 39,893,406 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 275,004 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,722,497 |
| Regular shares | 16,438,678 |
| All Other Shares & Deposits | 13,457,725 |
| TOTAL SHARES & DEPOSITS | 36,618,900 |
| TOTAL LIABILITIES | 36,893,904 |
| Regular Reserve | 0 |
| Other Reserves | 616,784 |
| Undivided Earnings | 2,382,718 |
| TOTAL EQUITY | 2,999,502 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 39,893,406 |
| INCOME & EXPENSE | |
| Loan Income | 2,119,629 |
| Investment Income | 171,198 |
| Other Income | 136,264 |
| Total Employee Compensation & Benefits | 789,681 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 771,327 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 150,000 |
| Cost of Funds | 542,454 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 224,544 |
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