Dec, 31, 2023 — LANGLEY FEDERAL CREDIT UNION is a federal credit union headquartered in NEWPORT NEWS, VA with 25 branch locations and about $5.45 billion in total assets. Opened 88 years ago in 1936, LANGLEY FEDERAL CREDIT UNION has about 373,860 members and employs 714 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LANGLEY FEDERAL CREDIT UNION |
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Address: (Main Office) | 721 Lakefront Cmns NEWPORT NEWS, VA 23606 |
Phone: | (757) 827-5328 |
Fax: | (757) 596-1684 |
Website: | https://www.langleyfcu.org |
Branches: | 25 branch locations |
Members: | 373,860 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 1261 |
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Membership Type: | Multiple common bond - Primarily military |
Corporate Credit Union: | No |
Year Opened: | 1936 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $5,450,250,843 |
CEO/Manager: | Thomas K Ryan |
Chairperson: | Edward G Henifin |
ASSETS: | $ Amount |
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Cash & Equivalents | 358,150,668 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 240,000 |
Real Estate Loans | 2,029,200,827 |
Unsecured Loans | 286,941,300 |
Other Loans | 2,345,498,956 |
TOTAL LOANS | 4,661,641,082 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -54,000,000 |
Land And Building | 40,417,468 |
Other Fixed Assets | 14,607,059 |
NCUSIF Deposit | 39,914,918 |
All Other Assets | 4,048,345 |
TOTAL ASSETS | 5,450,250,843 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 350,000,000 |
Accounts Payable & Other Liabilities | 73,376,698 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 658,808,405 |
Regular shares | 715,305,163 |
All Other Shares & Deposits | 3,223,625,888 |
TOTAL SHARES & DEPOSITS | 4,597,739,456 |
TOTAL LIABILITIES | 5,021,116,154 |
Regular Reserve | 0 |
Other Reserves | -8,189,261 |
Undivided Earnings | 437,323,950 |
TOTAL EQUITY | 429,134,689 |
TOTAL LIABILITIES, SHARES, & EQUITY | 5,450,250,843 |
INCOME & EXPENSE | |
Loan Income | 220,184,224 |
Investment Income | 22,100,444 |
Other Income | 27,505,589 |
Total Employee Compensation & Benefits | 63,266,689 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 78,649,482 |
Non-operating Income & (Expense) | 52,018 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 49,234,101 |
Cost of Funds | 99,537,945 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 26,799,788 |
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