Dec, 31, 2023 — WEST VIRGINIA FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH CHARLESTON, WV with 2 branch locations and about $125.72 million in total assets. Opened 59 years ago in 1965, WEST VIRGINIA FEDERAL CREDIT UNION has about 7,438 members and employs 28 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WEST VIRGINIA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 318 5th Ave SOUTH CHARLESTON, WV 25303-1240 |
| Phone: | (304) 744-7604 |
| Fax: | (304) 744-1993 |
| Website: | https://www.wvfcu.org |
| Branches: | 2 branch locations |
| Members: | 7,438 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 17057 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $125,721,637 |
| CEO/Manager: | Nicholas P Arvon |
| Chairperson: | Greg Cox |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,957,207 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 37,069,523 |
| Unsecured Loans | 2,284,353 |
| Other Loans | 35,058,559 |
| TOTAL LOANS | 74,412,435 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -848,961 |
| Land And Building | 1,098,715 |
| Other Fixed Assets | 218,830 |
| NCUSIF Deposit | 1,058,127 |
| All Other Assets | 3,500 |
| TOTAL ASSETS | 125,721,637 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 5,063 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,131,072 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 22,454,839 |
| Regular shares | 37,578,309 |
| All Other Shares & Deposits | 43,625,834 |
| TOTAL SHARES & DEPOSITS | 103,658,982 |
| TOTAL LIABILITIES | 104,795,117 |
| Regular Reserve | 0 |
| Other Reserves | -287,817 |
| Undivided Earnings | 21,214,337 |
| TOTAL EQUITY | 20,926,520 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 125,721,637 |
| INCOME & EXPENSE | |
| Loan Income | 3,827,172 |
| Investment Income | 1,058,546 |
| Other Income | 466,863 |
| Total Employee Compensation & Benefits | 2,614,301 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,781,837 |
| Non-operating Income & (Expense) | 41,877 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 576,736 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,878,957 |
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