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ROMNEY FEDERAL CREDIT UNION

Dec, 31, 2020 — ROMNEY FEDERAL CREDIT UNION is a federal credit union headquartered in ROMNEY, WV with 1 branch location and about $8.75 million in total assets. Opened 66 years ago in 1955, ROMNEY FEDERAL CREDIT UNION has about 1,227 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.


ABA Routing Number: 252279414
Name:ROMNEY FEDERAL CREDIT UNION
Address:
(Main Office)
62 WEST MAIN STREET
ROMNEY, WV 26757-1638
Phone:(304) 822-3116
Fax:(304) 822-3116
Website:http://www.romneyfcu.com
Branches:1 branch locations
Members:1,227
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:Nov 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$8,754,119
CEO/Manager:Beth R McDonald
Chairperson:Douglas B Cowgill

Call Report

  • Credit Builder
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Insurance/Investment Sales

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,213,969
TOTAL INVESTMENTS 279,718
Loans Held for Sale 0
 
 Real Estate Loans 9,728
 Unsecured Loans 995,749
 Other Loans 6,026,270
 TOTAL LOANS 7,031,747
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -25,681
 Land And Building 151,577
 Other Fixed Assets 12,705
 NCUSIF Deposit 65,462
 All Other Assets 24,622
  TOTAL ASSETS 8,754,119
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,912
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 182,912
 Regular shares 4,599,034
 All Other Shares & Deposits 3,081,009
  TOTAL SHARES & DEPOSITS 7,862,955
  TOTAL LIABILITIES 7,864,867
 Regular Reserve 110,964
 Other Reserves 0
 Undivided Earnings 778,288
  TOTAL EQUITY 889,252
  TOTAL LIABILITIES, SHARES, & EQUITY 8,754,119
INCOME & EXPENSE  
 Loan Income 325,609
 Investment Income 18,255
 Other Income 33,277
 Total Employee Compensation & Benefits 129,222
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 100,113
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 12,000
 Cost of Funds 85,291
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 50,515
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