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INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2023 — INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in RADFORD, VA with 1 branch location and about $1.74 million in total assets. Opened 62 years ago in 1962, INLAND MOTOR EMPLOYEES FEDERAL CREDIT UNION has about 538 members and employs 5 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)
501 W Main St
RADFORD, VA 24141-1590
Phone:(540) 731-6125
Fax:(540) 633-5522
Website:n/a
Branches:1 branch locations
Members:538
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:Mar 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$1,744,859
CEO/Manager:Becky R Simpkins
Chairperson:Perry Slaughter

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 122,980
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 507,839
 Other Loans 708,387
 TOTAL LOANS 1,216,226
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -21,341
 Land And Building 0
 Other Fixed Assets 15
 NCUSIF Deposit 14,834
 All Other Assets 0
  TOTAL ASSETS 1,744,859
LIABILITIES & CAPITAL:  
 Dividends Payable 280
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,767
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,248,851
 All Other Shares & Deposits 41,476
  TOTAL SHARES & DEPOSITS 1,290,327
  TOTAL LIABILITIES 1,295,374
 Regular Reserve 0
 Other Reserves 123,594
 Undivided Earnings 325,891
  TOTAL EQUITY 449,485
  TOTAL LIABILITIES, SHARES, & EQUITY 1,744,859
INCOME & EXPENSE  
 Loan Income 101,359
 Investment Income 24,057
 Other Income 634
 Total Employee Compensation & Benefits 65,567
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 23,726
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 35,412
 Cost of Funds 1,340
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 5
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