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FAYETTE FEDERAL CREDIT UNION

Dec, 31, 2023 — FAYETTE FEDERAL CREDIT UNION is a federal credit union headquartered in MOUNT HOPE, WV with 1 branch location and about $8.94 million in total assets. Opened 66 years ago in 1958, FAYETTE FEDERAL CREDIT UNION has about 840 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FAYETTE FEDERAL CREDIT UNION
Address:
(Main Office)
6058 ROBERT C BYRD DR
MOUNT HOPE, WV 25880
Phone:(304) 877-5404
Fax:(304) 877-3002
Website:https://fayettefcu.virtualcu.net
Branches:1 branch locations
Members:840
Credit Union Type:Federal Credit Union
Charter Number:12310
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1958
Last Audited:Jul 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$8,940,449
CEO/Manager:Gail L Morgan
Chairperson:Joseph Robertson

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 189,392
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 144,635
 Unsecured Loans 370,307
 Other Loans 3,711,902
 TOTAL LOANS 4,226,845
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -28,250
 Land And Building 104,349
 Other Fixed Assets 475
 NCUSIF Deposit 72,811
 All Other Assets 0
  TOTAL ASSETS 8,940,449
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,651
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 222,717
 Regular shares 5,503,146
 All Other Shares & Deposits 1,329,547
  TOTAL SHARES & DEPOSITS 7,055,410
  TOTAL LIABILITIES 7,057,061
 Regular Reserve 0
 Other Reserves 233,932
 Undivided Earnings 1,649,456
  TOTAL EQUITY 1,883,388
  TOTAL LIABILITIES, SHARES, & EQUITY 8,940,449
INCOME & EXPENSE  
 Loan Income 245,444
 Investment Income 65,708
 Other Income 20,024
 Total Employee Compensation & Benefits 118,150
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 125,141
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 2,508
 Cost of Funds 35,106
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 59,340
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