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ROMNEY FEDERAL CREDIT UNION

Dec, 31, 2021 — ROMNEY FEDERAL CREDIT UNION is a federal credit union headquartered in ROMNEY, WV with 1 branch location and about $9.90 million in total assets. Opened 67 years ago in 1955, ROMNEY FEDERAL CREDIT UNION has about 1,314 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.


ABA Routing Number: 252279414
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:http://www.romneyfcu.com
Branches:1 branch locations
Members:1,314
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:Sep 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$9,903,148
CEO/Manager:Beth R McDonald
Chairperson:Douglas B Cowgill

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Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 400,579
TOTAL INVESTMENTS 279,730
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 908,928
 Other Loans 8,110,710
 TOTAL LOANS 9,019,638
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -58,825
 Land And Building 158,480
 Other Fixed Assets 10,868
 NCUSIF Deposit 78,630
 All Other Assets 14,048
  TOTAL ASSETS 9,903,148
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 100,000
 Accounts Payable & Other Liabilities 136
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 350,558
 Regular shares 5,457,643
 All Other Shares & Deposits 3,054,958
  TOTAL SHARES & DEPOSITS 8,863,159
  TOTAL LIABILITIES 8,963,295
 Regular Reserve 110,964
 Other Reserves 0
 Undivided Earnings 828,889
  TOTAL EQUITY 939,853
  TOTAL LIABILITIES, SHARES, & EQUITY 9,903,148
INCOME & EXPENSE  
 Loan Income 394,700
 Investment Income 10,972
 Other Income 41,083
 Total Employee Compensation & Benefits 154,473
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 117,788
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 63,000
 Cost of Funds 60,901
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 50,600
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