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FAYETTE FEDERAL CREDIT UNION

Dec, 31, 2021 — FAYETTE FEDERAL CREDIT UNION is a federal credit union headquartered in MOUNT HOPE, WV with 1 branch location and about $9.01 million in total assets. Opened 64 years ago in 1958, FAYETTE FEDERAL CREDIT UNION has about 851 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FAYETTE FEDERAL CREDIT UNION
Address:
(Main Office)
6058 ROBERT C BYRD DR
MOUNT HOPE, WV 25880
Phone:(304) 877-5404
Fax:(304) 877-3002
Website:http://fayettefcu.virtualcu.net
Branches:1 branch locations
Members:851
Credit Union Type:Federal Credit Union
Charter Number:12310
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1958
Last Audited:Mar 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$9,006,397
CEO/Manager:Gail L Morgan
Chairperson:Joseph Robertson

Call Report

  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 990,314
TOTAL INVESTMENTS 4,772,581
Loans Held for Sale 0
 
 Real Estate Loans 47,995
 Unsecured Loans 248,796
 Other Loans 2,773,635
 TOTAL LOANS 3,070,426
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -27,926
 Land And Building 112,320
 Other Fixed Assets 3,217
 NCUSIF Deposit 68,611
 All Other Assets 16,854
  TOTAL ASSETS 9,006,397
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,305
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 306,459
 Regular shares 6,092,695
 All Other Shares & Deposits 794,172
  TOTAL SHARES & DEPOSITS 7,193,326
  TOTAL LIABILITIES 7,198,631
 Regular Reserve 233,932
 Other Reserves 0
 Undivided Earnings 1,573,834
  TOTAL EQUITY 1,807,766
  TOTAL LIABILITIES, SHARES, & EQUITY 9,006,397
INCOME & EXPENSE  
 Loan Income 149,053
 Investment Income 104,459
 Other Income 3,166
 Total Employee Compensation & Benefits 100,177
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 111,774
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 3,600
 Cost of Funds 11,337
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 34,646
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