Dec, 31, 2023 — K V FEDERAL CREDIT UNION is a federal credit union headquartered in AUGUSTA, ME with 3 branch locations and about $119.85 million in total assets. Opened 62 years ago in 1962, K V FEDERAL CREDIT UNION has about 11,000 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | K V FEDERAL CREDIT UNION |
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Address: (Main Office) | 316 W River RD AUGUSTA, ME 04330-3992 |
Phone: | (207) 623-5171 |
Fax: | (207) 623-5341 |
Website: | https://www.kvfcu.org |
Branches: | 3 branch locations |
Members: | 11,000 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 15328 |
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Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
Corporate Credit Union: | No |
Year Opened: | 1962 |
Last Audited: | Sep 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $119,847,824 |
CEO/Manager: | Christine L Devine |
Chairperson: | Daniel Nichols |
ASSETS: | $ Amount |
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Cash & Equivalents | 7,161,683 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 32,803,723 |
Unsecured Loans | 2,123,443 |
Other Loans | 39,616,197 |
TOTAL LOANS | 74,543,363 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -68,489 |
Land And Building | 3,678,231 |
Other Fixed Assets | 314,027 |
NCUSIF Deposit | 1,065,737 |
All Other Assets | 0 |
TOTAL ASSETS | 119,847,824 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 507,205 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 22,251,864 |
Regular shares | 46,509,655 |
All Other Shares & Deposits | 37,489,757 |
TOTAL SHARES & DEPOSITS | 106,251,276 |
TOTAL LIABILITIES | 106,758,481 |
Regular Reserve | 0 |
Other Reserves | 2,003,573 |
Undivided Earnings | 11,085,770 |
TOTAL EQUITY | 13,089,343 |
TOTAL LIABILITIES, SHARES, & EQUITY | 119,847,824 |
INCOME & EXPENSE | |
Loan Income | 3,605,190 |
Investment Income | 1,333,518 |
Other Income | 624,445 |
Total Employee Compensation & Benefits | 1,759,434 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 2,430,266 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 73,524 |
Cost of Funds | 598,460 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 1,465,425 |
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