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RALEIGH CO. EDUCATORS FEDERAL CREDIT UNION

Dec, 31, 2023 — RALEIGH CO. EDUCATORS FEDERAL CREDIT UNION is a federal credit union headquartered in BECKLEY, WV with 1 branch location and about $20.76 million in total assets. Opened 44 years ago in 1980, RALEIGH CO. EDUCATORS FEDERAL CREDIT UNION has about 2,300 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:RALEIGH CO. EDUCATORS FEDERAL CREDIT UNION
Address:
(Main Office)
105 Adair St
BECKLEY, WV 25801-3733
Phone:(304) 256-4600
Fax:(304) 256-0888
Website:https://www.raleighcountyefcu.com
Branches:1 branch locations
Members:2,300
Credit Union Type:Federal Credit Union
Charter Number:23722
Membership Type:Educational
Corporate Credit Union:No
Year Opened:1980
Last Audited:Apr 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$20,760,867
CEO/Manager:Damon J Hamby
Chairperson:Evert Mills

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,141,975
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 866,356
 Other Loans 7,931,824
 TOTAL LOANS 8,798,180
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -37,548
 Land And Building 32,757
 Other Fixed Assets 11,764
 NCUSIF Deposit 174,468
 All Other Assets 0
  TOTAL ASSETS 20,760,867
LIABILITIES & CAPITAL:  
 Dividends Payable 58,311
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 36,379
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,422,937
 Regular shares 9,027,262
 All Other Shares & Deposits 5,168,316
  TOTAL SHARES & DEPOSITS 15,618,516
  TOTAL LIABILITIES 15,713,206
 Regular Reserve 0
 Other Reserves 1,055,000
 Undivided Earnings 3,992,661
  TOTAL EQUITY 5,047,661
  TOTAL LIABILITIES, SHARES, & EQUITY 20,760,867
INCOME & EXPENSE  
 Loan Income 524,650
 Investment Income 278,360
 Other Income 52,881
 Total Employee Compensation & Benefits 366,629
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 250,625
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 95,936
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 177,854
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