Dec, 31, 2023 — FAIRMONT FEDERAL CREDIT UNION is a federal credit union headquartered in FAIRMONT, WV with 9 branch locations and about $487.41 million in total assets. Opened 85 years ago in 1939, FAIRMONT FEDERAL CREDIT UNION has about 43,937 members and employs 117 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FAIRMONT FEDERAL CREDIT UNION |
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Address: (Main Office) | 2 The Credit Union Way FAIRMONT, WV 26554-1567 |
Phone: | (304) 363-5320 |
Fax: | (304) 363-5470 |
Website: | https://www.fairmontfcu.com |
Branches: | 9 branch locations |
Members: | 43,937 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 3439 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1939 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $487,410,788 |
CEO/Manager: | Cindy B Dickey |
Chairperson: | C. Allan Keener |
ASSETS: | $ Amount |
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Cash & Equivalents | 31,999,279 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 172,265,766 |
Unsecured Loans | 6,467,294 |
Other Loans | 170,034,129 |
TOTAL LOANS | 349,133,421 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,072,938 |
Land And Building | 13,927,786 |
Other Fixed Assets | 498,163 |
NCUSIF Deposit | 4,386,208 |
All Other Assets | 425,973 |
TOTAL ASSETS | 487,410,788 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 126,323 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 8,388,743 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 150,861,062 |
Regular shares | 217,610,737 |
All Other Shares & Deposits | 73,820,876 |
TOTAL SHARES & DEPOSITS | 442,292,676 |
TOTAL LIABILITIES | 450,807,742 |
Regular Reserve | 0 |
Other Reserves | -10,003,492 |
Undivided Earnings | 46,606,538 |
TOTAL EQUITY | 36,603,046 |
TOTAL LIABILITIES, SHARES, & EQUITY | 487,410,788 |
INCOME & EXPENSE | |
Loan Income | 13,131,177 |
Investment Income | 3,372,755 |
Other Income | 2,228,236 |
Total Employee Compensation & Benefits | 7,988,064 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 8,371,221 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,340 |
Cost of Funds | 2,327,933 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 4,593,680 |
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