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 |
| 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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