Mar, 31, 2021 — LANGLEY FEDERAL CREDIT UNION is a federal credit union headquartered in Newport News, VA with 20 branch locations and about $3.86 billion in total assets. Opened 85 years ago in 1936, LANGLEY FEDERAL CREDIT UNION has about 289,618 members and employs 579 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: | 289,618 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,864,603,165 |
| CEO/Manager: | Thomas K Ryan |
| Chairperson: | Bruce R Hoogstraten |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 494,353,152 |
| TOTAL INVESTMENTS | 555,441,475 |
| Loans Held for Sale | 5,432,100 |
| Real Estate Loans | 991,742,126 |
| Unsecured Loans | 227,695,366 |
| Other Loans | 1,427,879,924 |
| TOTAL LOANS | 2,647,317,416 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,000,000 |
| Land And Building | 42,058,265 |
| Other Fixed Assets | 11,487,125 |
| NCUSIF Deposit | 26,243,931 |
| All Other Assets | 111,269,701 |
| TOTAL ASSETS | 3,864,603,165 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 250,000,000 |
| Accounts Payable & Other Liabilities | 41,520,855 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 614,376,242 |
| Regular shares | 639,634,049 |
| All Other Shares & Deposits | 1,958,247,862 |
| TOTAL SHARES & DEPOSITS | 3,212,258,153 |
| TOTAL LIABILITIES | 3,503,779,008 |
| Regular Reserve | 24,767,480 |
| Other Reserves | 4,658,127 |
| Undivided Earnings | 331,398,550 |
| TOTAL EQUITY | 360,824,157 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,864,603,165 |
| INCOME & EXPENSE | |
| Loan Income | 28,004,909 |
| Investment Income | 1,314,487 |
| Other Income | 4,807,022 |
| Total Employee Compensation & Benefits | 12,246,542 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 13,865,738 |
| Non-operating Income & (Expense) | 130,299 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,855,390 |
| Cost of Funds | 5,407,027 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 8,637,377 |
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