Dec, 31, 2023 — ROMNEY FEDERAL CREDIT UNION is a federal credit union headquartered in ROMNEY, WV with 1 branch location and about $12.49 million in total assets. Opened 69 years ago in 1955, ROMNEY FEDERAL CREDIT UNION has about 1,474 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ROMNEY FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 62 W Main St ROMNEY, WV 26757-1638 |
| Phone: | (304) 822-3116 |
| Fax: | (304) 822-3116 |
| Website: | https://www.romneyfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,474 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 10301 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,494,611 |
| CEO/Manager: | Beth R McDonald |
| Chairperson: | Douglas B Cowgill |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 525,002 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 1,299,435 |
| Other Loans | 9,755,056 |
| TOTAL LOANS | 11,054,490 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,707 |
| Land And Building | 179,115 |
| Other Fixed Assets | 6,835 |
| NCUSIF Deposit | 99,961 |
| All Other Assets | 0 |
| TOTAL ASSETS | 12,494,611 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 351 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 483,302 |
| Regular shares | 4,638,422 |
| All Other Shares & Deposits | 6,205,414 |
| TOTAL SHARES & DEPOSITS | 11,327,137 |
| TOTAL LIABILITIES | 11,327,488 |
| Regular Reserve | 0 |
| Other Reserves | 110,964 |
| Undivided Earnings | 1,056,159 |
| TOTAL EQUITY | 1,167,123 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,494,611 |
| INCOME & EXPENSE | |
| Loan Income | 550,406 |
| Investment Income | 25,999 |
| Other Income | 45,440 |
| Total Employee Compensation & Benefits | 179,836 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 171,365 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 13,203 |
| Cost of Funds | 186,966 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 109,521 |
| ↑ Back to Top | |