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LONG REACH FEDERAL CREDIT UNION

Dec, 31, 2023 — LONG REACH FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLEBOURNE, WV with 4 branch locations and about $152.05 million in total assets. Opened 49 years ago in 1975, LONG REACH FEDERAL CREDIT UNION has about 9,555 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 243486067
Name:LONG REACH FEDERAL CREDIT UNION
Address:
(Main Office)
315 Main St
MIDDLEBOURNE, WV 26149-9602
Phone:(304) 758-4308
Fax:(304) 758-4236
Website:https://www.lrefcu.org
Branches:4 branch locations
Members:9,555
Credit Union Type:Federal Credit Union
Charter Number:22241
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1975
Last Audited:Apr 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$152,052,171
CEO/Manager:Steven Reed
Chairperson:Gregory K Arnott

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 9,238,198
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 23,300,652
 Unsecured Loans 12,348,442
 Other Loans 73,607,421
 TOTAL LOANS 109,256,515
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -518,494
 Land And Building 2,612,053
 Other Fixed Assets 48,116
 NCUSIF Deposit 1,170,820
 All Other Assets 79,381
  TOTAL ASSETS 152,052,171
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 108,214
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 19,708,078
 Regular shares 56,957,190
 All Other Shares & Deposits 60,476,218
  TOTAL SHARES & DEPOSITS 137,141,486
  TOTAL LIABILITIES 137,249,700
 Regular Reserve 0
 Other Reserves 822,032
 Undivided Earnings 13,980,439
  TOTAL EQUITY 14,802,471
  TOTAL LIABILITIES, SHARES, & EQUITY 152,052,171
INCOME & EXPENSE  
 Loan Income 5,338,179
 Investment Income 990,252
 Other Income 636,751
 Total Employee Compensation & Benefits 1,972,551
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,970,123
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 402,258
 Cost of Funds 1,258,595
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 2,109,261
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