Dec, 31, 2020 — BAYER HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in Proctor, WV with 12 branch locations and about $576.63 million in total assets. Opened 64 years ago in 1957, BAYER HERITAGE FEDERAL CREDIT UNION has about 35,399 members and employs 160 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAYER HERITAGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 17612 Energy Rd Proctor, WV 26055 |
| Phone: | (304) 455-4029 |
| Fax: | (304) 455-6782 |
| Website: | http://bayerhfcu.com |
| Branches: | 12 branch locations |
| Members: | 35,399 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 11836 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1957 |
| Last Audited: | Mar 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $576,632,455 |
| CEO/Manager: | Robert Burrow |
| Chairperson: | Charles Racer II |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,699,405 |
| TOTAL INVESTMENTS | 51,311,385 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 199,827,498 |
| Unsecured Loans | 20,148,339 |
| Other Loans | 213,960,545 |
| TOTAL LOANS | 450,415,490 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,550,837 |
| Land And Building | 22,728,433 |
| Other Fixed Assets | 1,206,806 |
| NCUSIF Deposit | 4,853,344 |
| All Other Assets | 2,968,429 |
| TOTAL ASSETS | 576,632,455 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,365,026 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 57,601,142 |
| Regular shares | 243,323,551 |
| All Other Shares & Deposits | 219,415,270 |
| TOTAL SHARES & DEPOSITS | 520,339,963 |
| TOTAL LIABILITIES | 522,704,989 |
| Regular Reserve | 8,715,076 |
| Other Reserves | 2,969,832 |
| Undivided Earnings | 42,242,558 |
| TOTAL EQUITY | 53,927,466 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 576,632,455 |
| INCOME & EXPENSE | |
| Loan Income | 19,739,131 |
| Investment Income | 1,065,809 |
| Other Income | 6,999,108 |
| Total Employee Compensation & Benefits | 9,795,666 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,026,551 |
| Non-operating Income & (Expense) | -60,217 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,763,626 |
| Cost of Funds | 5,665,496 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,492,492 |
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