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INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION

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

Call Report

  • Risk Based Loans

Financial Summary

» See also Statement of Financial Condition
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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