Dec, 31, 2021 — RAVENSWOOD FEDERAL CREDIT UNION is a federal credit union headquartered in RAVENSWOOD, WV with 2 branch locations and about $41.28 million in total assets. Opened 63 years ago in 1959, RAVENSWOOD FEDERAL CREDIT UNION has about 5,249 members and employs 17 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) | 702 Washington St RAVENSWOOD, WV 26164-1772 |
| Phone: | (304) 273-0515 |
| Fax: | (304) 273-0518 |
| Website: | http://www.rfcu.net |
| Branches: | 2 branch locations |
| Members: | 5,249 |
| 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: | Feb 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $41,279,654 |
| CEO/Manager: | Melissa Casto |
| Chairperson: | Richard Massey |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,490,454 |
| TOTAL INVESTMENTS | 20,229,025 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,512,560 |
| Unsecured Loans | 4,563,210 |
| Other Loans | 11,115,273 |
| TOTAL LOANS | 17,191,043 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -138,197 |
| Land And Building | 1,687,932 |
| Other Fixed Assets | 33,017 |
| NCUSIF Deposit | 343,323 |
| All Other Assets | 443,057 |
| TOTAL ASSETS | 41,279,654 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 278,577 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,668,812 |
| Regular shares | 25,284,068 |
| All Other Shares & Deposits | 4,229,134 |
| TOTAL SHARES & DEPOSITS | 37,182,014 |
| TOTAL LIABILITIES | 37,460,591 |
| Regular Reserve | 914,116 |
| Other Reserves | -573,099 |
| Undivided Earnings | 3,478,046 |
| TOTAL EQUITY | 3,819,063 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 41,279,654 |
| INCOME & EXPENSE | |
| Loan Income | 945,844 |
| Investment Income | 274,898 |
| Other Income | 236,763 |
| Total Employee Compensation & Benefits | 915,858 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 691,631 |
| Non-operating Income & (Expense) | 379,458 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 95,272 |
| Cost of Funds | 49,876 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 293,384 |
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