Jun, 30, 2023 — K V FEDERAL CREDIT UNION is a federal credit union headquartered in AUGUSTA, ME with 3 branch locations and about $126.65 million in total assets. Opened 61 years ago in 1962, K V FEDERAL CREDIT UNION has about 10,930 members and employs 24 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 |
|---|---|
| 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: | 10,930 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 15328 |
|---|---|
| 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, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $126,645,186 |
| CEO/Manager: | Christine L Devine |
| Chairperson: | Daniel Nichols |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 15,248,065 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 31,770,609 |
| Unsecured Loans | 1,969,220 |
| Other Loans | 36,362,628 |
| TOTAL LOANS | 70,102,457 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -49,232 |
| Land And Building | 3,624,520 |
| Other Fixed Assets | 386,576 |
| NCUSIF Deposit | 1,115,871 |
| All Other Assets | 35,800 |
| TOTAL ASSETS | 126,645,186 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 173,243 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 23,072,510 |
| Regular shares | 49,565,286 |
| All Other Shares & Deposits | 42,584,203 |
| TOTAL SHARES & DEPOSITS | 115,221,999 |
| TOTAL LIABILITIES | 115,395,242 |
| Regular Reserve | 0 |
| Other Reserves | 3,952,205 |
| Undivided Earnings | 7,297,739 |
| TOTAL EQUITY | 11,249,944 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 126,645,186 |
| INCOME & EXPENSE | |
| Loan Income | 2,109,769 |
| Investment Income | 427,205 |
| Other Income | 441,182 |
| Total Employee Compensation & Benefits | 1,178,054 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,630,534 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,077 |
| Cost of Funds | 208,435 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 565,475 |
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