Dec, 31, 2020 — LANGLEY FEDERAL CREDIT UNION is a federal credit union headquartered in Newport News, VA with 20 branch locations and about $3.64 billion in total assets. Opened 85 years ago in 1936, LANGLEY FEDERAL CREDIT UNION has about 284,617 members and employs 563 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 |
|---|---|
| Address: (Main Office) | 721 Lakefront Cmns Newport News, VA 23606 |
| Phone: | (757) 827-5328 |
| Fax: | (757) 596-1684 |
| Website: | https://www.langleyfcu.org |
| Branches: | 20 branch locations |
| Members: | 284,617 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1261 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Dec 01, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,643,956,214 |
| CEO/Manager: | Thomas K Ryan |
| Chairperson: | Bruce R Hoogstraten |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 339,793,319 |
| TOTAL INVESTMENTS | 517,084,328 |
| Loans Held for Sale | 7,219,345 |
| Real Estate Loans | 1,009,848,764 |
| Unsecured Loans | 239,558,884 |
| Other Loans | 1,397,371,067 |
| TOTAL LOANS | 2,646,778,715 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,000,000 |
| Land And Building | 40,727,207 |
| Other Fixed Assets | 12,166,132 |
| NCUSIF Deposit | 26,243,931 |
| All Other Assets | 82,943,237 |
| TOTAL ASSETS | 3,643,956,214 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 250,000,000 |
| Accounts Payable & Other Liabilities | 41,758,446 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 553,399,642 |
| Regular shares | 558,613,452 |
| All Other Shares & Deposits | 1,886,643,995 |
| TOTAL SHARES & DEPOSITS | 2,998,657,089 |
| TOTAL LIABILITIES | 3,290,415,535 |
| Regular Reserve | 24,767,480 |
| Other Reserves | 6,011,986 |
| Undivided Earnings | 322,761,213 |
| TOTAL EQUITY | 353,540,679 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,643,956,214 |
| INCOME & EXPENSE | |
| Loan Income | 109,934,426 |
| Investment Income | 13,339,565 |
| Other Income | 44,939,947 |
| Total Employee Compensation & Benefits | 46,108,669 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 49,030,657 |
| Non-operating Income & (Expense) | 1,218,788 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 23,559,080 |
| Cost of Funds | 29,406,523 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 21,327,797 |
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