Dec, 31, 2023 — HENRICO FEDERAL CREDIT UNION is a federal credit union headquartered in HENRICO, VA with 9 branch locations and about $432.66 million in total assets. Opened 57 years ago in 1967, HENRICO FEDERAL CREDIT UNION has about 30,614 members and employs 79 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HENRICO FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9401 W Broad St HENRICO, VA 23294 |
| Phone: | (804) 266-0290 |
| Fax: | (804) 545-7822 |
| Website: | https://www.henricofcu.org |
| Branches: | 9 branch locations |
| Members: | 30,614 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18175 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $432,655,596 |
| CEO/Manager: | Christopher L Williams |
| Chairperson: | Frederick Overmann III |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 31,968,193 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 89,804,611 |
| Unsecured Loans | 17,520,091 |
| Other Loans | 139,826,948 |
| TOTAL LOANS | 247,151,650 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,889,170 |
| Land And Building | 6,926,209 |
| Other Fixed Assets | 867,233 |
| NCUSIF Deposit | 3,642,030 |
| All Other Assets | 0 |
| TOTAL ASSETS | 432,655,596 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 7,753,800 |
| Accounts Payable & Other Liabilities | 3,598,896 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 5,000,000 |
| Share Drafts | 126,673,486 |
| Regular shares | 162,390,088 |
| All Other Shares & Deposits | 100,182,429 |
| TOTAL SHARES & DEPOSITS | 389,246,003 |
| TOTAL LIABILITIES | 405,613,466 |
| Regular Reserve | 0 |
| Other Reserves | -4,409,340 |
| Undivided Earnings | 31,451,470 |
| TOTAL EQUITY | 27,042,130 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 432,655,596 |
| INCOME & EXPENSE | |
| Loan Income | 11,340,057 |
| Investment Income | 2,904,774 |
| Other Income | 3,144,871 |
| Total Employee Compensation & Benefits | 6,144,631 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,667,517 |
| Non-operating Income & (Expense) | 229,556 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,094,020 |
| Cost of Funds | 4,686,024 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,619,685 |
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