Dec, 31, 2023 — MOUNTAIN HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in PARKERSBURG, WV with 3 branch locations and about $47.98 million in total assets. Opened 66 years ago in 1958, MOUNTAIN HERITAGE FEDERAL CREDIT UNION has about 8,588 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MOUNTAIN HERITAGE FEDERAL CREDIT UNION |
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Address: (Main Office) | 1822 7th St PARKERSBURG, WV 26101 |
Phone: | (304) 424-7256 |
Fax: | (304) 428-2127 |
Website: | https://www.mhfcu.net |
Branches: | 3 branch locations |
Members: | 8,588 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 12470 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1958 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $47,984,833 |
CEO/Manager: | Douglas D Hershman |
Chairperson: | Brian S Clay |
ASSETS: | $ Amount |
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Cash & Equivalents | 2,764,755 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 2,464,151 |
Unsecured Loans | 4,812,741 |
Other Loans | 29,968,422 |
TOTAL LOANS | 37,245,314 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -544,384 |
Land And Building | 185,099 |
Other Fixed Assets | 10,987 |
NCUSIF Deposit | 439,042 |
All Other Assets | 20,561 |
TOTAL ASSETS | 47,984,833 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 246,862 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 8,402,956 |
Regular shares | 18,951,478 |
All Other Shares & Deposits | 14,347,243 |
TOTAL SHARES & DEPOSITS | 41,701,677 |
TOTAL LIABILITIES | 41,948,539 |
Regular Reserve | 0 |
Other Reserves | 622,086 |
Undivided Earnings | 5,414,208 |
TOTAL EQUITY | 6,036,294 |
TOTAL LIABILITIES, SHARES, & EQUITY | 47,984,833 |
INCOME & EXPENSE | |
Loan Income | 2,168,344 |
Investment Income | 225,999 |
Other Income | 196,119 |
Total Employee Compensation & Benefits | 650,322 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,407,553 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 300,000 |
Cost of Funds | 296,308 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 323,623 |
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» See also Statement of Financial Condition