Dec, 31, 2023 — MONTGOMERY VA FEDERAL CREDIT UNION is a federal credit union headquartered in MONTGOMERY, AL with 1 branch location and about $7.20 million in total assets. Opened 78 years ago in 1946, MONTGOMERY VA FEDERAL CREDIT UNION has about 839 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MONTGOMERY VA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 345 PERRY HILL RD MONTGOMERY, AL 36109 |
| Phone: | (334) 272-7790 |
| Fax: | (334) 272-7408 |
| Website: | https://www.mvafcu.org |
| Branches: | 1 branch locations |
| Members: | 839 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5345 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $7,204,691 |
| CEO/Manager: | WENDY P BOLTON |
| Chairperson: | WILLIAM L GLASS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,263,462 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 258,755 |
| Other Loans | 2,000,699 |
| TOTAL LOANS | 2,259,454 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,394 |
| Land And Building | 40,115 |
| Other Fixed Assets | 0 |
| NCUSIF Deposit | 62,434 |
| All Other Assets | 0 |
| TOTAL ASSETS | 7,204,691 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 59,883 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,142,928 |
| Regular shares | 5,015,093 |
| All Other Shares & Deposits | 172,793 |
| TOTAL SHARES & DEPOSITS | 6,330,814 |
| TOTAL LIABILITIES | 6,390,711 |
| Regular Reserve | 0 |
| Other Reserves | 57,917 |
| Undivided Earnings | 756,063 |
| TOTAL EQUITY | 813,980 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,204,691 |
| INCOME & EXPENSE | |
| Loan Income | 143,911 |
| Investment Income | 84,774 |
| Other Income | 33,238 |
| Total Employee Compensation & Benefits | 124,094 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 167,184 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 16,869 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -38,762 |
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