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MIDWAY FEDERAL CREDIT UNION

Dec, 31, 2020 — MIDWAY FEDERAL CREDIT UNION is a federal credit union headquartered in BERRYVILLE, VA with 2 branch locations and about $12.34 million in total assets. Opened 60 years ago in 1961, MIDWAY FEDERAL CREDIT UNION has about 979 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:979
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:$12,341,983
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 1,765,476
TOTAL INVESTMENTS 6,801,498
Loans Held for Sale 0
 
 Real Estate Loans 610,192
 Unsecured Loans 334,362
 Other Loans 2,691,943
 TOTAL LOANS 3,636,497
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -14,736
 Land And Building 0
 Other Fixed Assets 0
 NCUSIF Deposit 96,215
 All Other Assets 57,033
  TOTAL ASSETS 12,341,983
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 31,616
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 5,434,502
 All Other Shares & Deposits 4,804,697
  TOTAL SHARES & DEPOSITS 10,239,199
  TOTAL LIABILITIES 10,270,815
 Regular Reserve 90,076
 Other Reserves -88,014
 Undivided Earnings 2,069,106
  TOTAL EQUITY 2,071,168
  TOTAL LIABILITIES, SHARES, & EQUITY 12,341,983
INCOME & EXPENSE  
 Loan Income 275,824
 Investment Income 147,172
 Other Income 2,576
 Total Employee Compensation & Benefits 193,063
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 102,847
 Non-operating Income & (Expense) 1,963
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -2,936
 Cost of Funds 102,467
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 32,094
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