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MIDWAY FEDERAL CREDIT UNION

Mar, 31, 2021 — MIDWAY FEDERAL CREDIT UNION is a federal credit union headquartered in BERRYVILLE, VA with 2 branch locations and about $12.39 million in total assets. Opened 60 years ago in 1961, MIDWAY FEDERAL CREDIT UNION has about 969 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MIDWAY FEDERAL CREDIT UNION
Address:
(Main Office)
P O BOX 232
BERRYVILLE, VA 22611
Phone:(540) 686-7637
Fax:(540) 686-7389
Website:http://www.midwayfcu.org
Branches:2 branch locations
Members:969
Credit Union Type:Federal Credit Union
Charter Number:14408
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1961
Last Audited:Aug 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$12,394,763
CEO/Manager:Julie Malone
Chairperson:Keith Farrell

Call Report

  • Micro Consumer Loans
  • Real Estate Loans
  • Risk Based Loans

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,296,925
TOTAL INVESTMENTS 6,430,407
Loans Held for Sale 0
 
 Real Estate Loans 588,885
 Unsecured Loans 307,992
 Other Loans 2,626,570
 TOTAL LOANS 3,523,447
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -16,535
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 96,215
 All Other Assets 64,304
  TOTAL ASSETS 12,394,763
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 13,835
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,728,555
 All Other Shares & Deposits 4,672,035
  TOTAL SHARES & DEPOSITS 10,400,590
  TOTAL LIABILITIES 10,414,425
 Regular Reserve 90,076
 Other Reserves -182,363
 Undivided Earnings 2,072,625
  TOTAL EQUITY 1,980,338
  TOTAL LIABILITIES, SHARES, & EQUITY 12,394,763
INCOME & EXPENSE  
 Loan Income 61,096
 Investment Income 30,632
 Other Income 484
 Total Employee Compensation & Benefits 41,193
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 27,712
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 0
 Cost of Funds 20,250
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,519
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