Dec, 31, 2020 — RAVENSWOOD FEDERAL CREDIT UNION is a federal credit union headquartered in RAVENSWOOD, WV with 3 branch locations and about $38.32 million in total assets. Opened 62 years ago in 1959, RAVENSWOOD FEDERAL CREDIT UNION has about 5,237 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | RAVENSWOOD FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO BOX 67 RAVENSWOOD, WV 26164 |
| Phone: | (304) 273-0515 |
| Fax: | (304) 273-0518 |
| Website: | http://www.rfcu.net |
| Branches: | 3 branch locations |
| Members: | 5,237 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 13321 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1959 |
| Last Audited: | Oct 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $38,320,936 |
| CEO/Manager: | Melissa Casto |
| Chairperson: | Richard Massey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,619,232 |
| TOTAL INVESTMENTS | 16,920,025 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,404,950 |
| Unsecured Loans | 4,569,631 |
| Other Loans | 10,785,265 |
| TOTAL LOANS | 16,759,846 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -164,802 |
| Land And Building | 1,736,150 |
| Other Fixed Assets | 24,940 |
| NCUSIF Deposit | 300,402 |
| All Other Assets | 125,143 |
| TOTAL ASSETS | 38,320,936 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 395,700 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,765,537 |
| Regular shares | 22,539,204 |
| All Other Shares & Deposits | 4,027,598 |
| TOTAL SHARES & DEPOSITS | 34,332,339 |
| TOTAL LIABILITIES | 34,728,039 |
| Regular Reserve | 914,116 |
| Other Reserves | -511,299 |
| Undivided Earnings | 3,190,080 |
| TOTAL EQUITY | 3,592,897 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 38,320,936 |
| INCOME & EXPENSE | |
| Loan Income | 941,279 |
| Investment Income | 364,561 |
| Other Income | 377,785 |
| Total Employee Compensation & Benefits | 852,268 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 612,299 |
| Non-operating Income & (Expense) | 20,264 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 73,079 |
| Cost of Funds | 62,123 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 104,120 |
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