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ROMNEY FEDERAL CREDIT UNION

Jun, 30, 2021 — ROMNEY FEDERAL CREDIT UNION is a federal credit union headquartered in ROMNEY, WV with 1 branch location and about $9.84 million in total assets. Opened 66 years ago in 1955, ROMNEY FEDERAL CREDIT UNION has about 1,301 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 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:1,301
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:$9,839,327
CEO/Manager:Beth R McDonald
Chairperson:Douglas B Cowgill

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,172,615
TOTAL INVESTMENTS 279,730
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 840,856
 Other Loans 7,332,176
 TOTAL LOANS 8,173,032
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -49,704
 Land And Building 149,282
 Other Fixed Assets 12,341
 NCUSIF Deposit 78,630
 All Other Assets 23,401
  TOTAL ASSETS 9,839,327
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 592
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 265,065
 Regular shares 5,283,501
 All Other Shares & Deposits 3,414,448
  TOTAL SHARES & DEPOSITS 8,963,014
  TOTAL LIABILITIES 8,963,606
 Regular Reserve 110,964
 Other Reserves 0
 Undivided Earnings 764,757
  TOTAL EQUITY 875,721
  TOTAL LIABILITIES, SHARES, & EQUITY 9,839,327
INCOME & EXPENSE  
 Loan Income 192,792
 Investment Income 6,067
 Other Income 9,190
 Total Employee Compensation & Benefits 80,634
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 60,798
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 56,000
 Cost of Funds 31,818
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -13,532
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