Dec, 31, 2020 — INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in Radford, VA with 1 branch location and about $2.12 million in total assets. Opened 59 years ago in 1962, INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION has about 569 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: | INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 3394 Radford, VA 24143 |
| Phone: | (540) 731-6125 |
| Fax: | (540) 633-5522 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 569 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 14898 |
|---|---|
| Membership Type: | Multiple common bond - Primarily transportation equipment |
| Corporate Credit Union: | No |
| Year Opened: | 1962 |
| Last Audited: | Sep 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $2,122,003 |
| CEO/Manager: | Becky R Simpkins |
| Chairperson: | Perry Slaughter |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 475,545 |
| TOTAL INVESTMENTS | 511,264 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 553,294 |
| Other Loans | 566,910 |
| TOTAL LOANS | 1,120,204 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,195 |
| Land And Building | 0 |
| Other Fixed Assets | 3,598 |
| NCUSIF Deposit | 17,819 |
| All Other Assets | 2,768 |
| TOTAL ASSETS | 2,122,003 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,294 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 2,056 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 1,636,253 |
| All Other Shares & Deposits | 44,942 |
| TOTAL SHARES & DEPOSITS | 1,681,195 |
| TOTAL LIABILITIES | 1,685,545 |
| Regular Reserve | 123,594 |
| Other Reserves | 0 |
| Undivided Earnings | 312,864 |
| TOTAL EQUITY | 436,458 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,122,003 |
| INCOME & EXPENSE | |
| Loan Income | 100,116 |
| Investment Income | 13,807 |
| Other Income | 650 |
| Total Employee Compensation & Benefits | 69,736 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 23,852 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,000 |
| Cost of Funds | 9,426 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,559 |
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