Dec, 31, 2022 — RICHMOND HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in RICHMOND, VA with 1 branch location and about $12.56 million in total assets. Opened 87 years ago in 1936, RICHMOND HERITAGE FEDERAL CREDIT UNION has about 1,979 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RICHMOND HERITAGE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 50 W Commerce Rd RICHMOND, VA 23224-2316 |
| Phone: | (804) 233-8872 |
| Fax: | (804) 233-8869 |
| Website: | https://www.richheritage.org |
| Branches: | 1 branch locations |
| Members: | 1,979 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1282 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $12,556,367 |
| CEO/Manager: | Randy N Cooper |
| Chairperson: | Lamarr Johnson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,627,532 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,517 |
| Unsecured Loans | 1,471,713 |
| Other Loans | 2,087,274 |
| TOTAL LOANS | 3,568,504 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -68,033 |
| Land And Building | 0 |
| Other Fixed Assets | 41,153 |
| NCUSIF Deposit | 72,094 |
| All Other Assets | 7,175 |
| TOTAL ASSETS | 12,556,367 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,218 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 3,500,000 |
| Share Drafts | 1,137,084 |
| Regular shares | 6,939,032 |
| All Other Shares & Deposits | 10 |
| TOTAL SHARES & DEPOSITS | 8,076,126 |
| TOTAL LIABILITIES | 11,582,344 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 974,023 |
| TOTAL EQUITY | 974,023 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 12,556,367 |
| INCOME & EXPENSE | |
| Loan Income | 226,966 |
| Investment Income | 50,526 |
| Other Income | 105,266 |
| Total Employee Compensation & Benefits | 234,350 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 249,538 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -34,071 |
| Cost of Funds | 23,186 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -26,724 |
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