Dec, 31, 2020 — SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in South Charlesto, WV with 1 branch location and about $16.12 million in total assets. Opened 56 years ago in 1965, SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION has about 1,284 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 515 3rd Ave Ste 200 South Charlesto, WV 25303 |
| Phone: | (304) 720-5600 |
| Fax: | (304) 720-5401 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 1,284 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16989 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Jun 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,124,927 |
| CEO/Manager: | Phala Sigmon |
| Chairperson: | Ted Schuda |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,053,178 |
| TOTAL INVESTMENTS | 9,818,927 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 535,908 |
| Unsecured Loans | 700,234 |
| Other Loans | 2,956,064 |
| TOTAL LOANS | 4,192,206 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -24,339 |
| Land And Building | 0 |
| Other Fixed Assets | 14 |
| NCUSIF Deposit | 76,100 |
| All Other Assets | 8,841 |
| TOTAL ASSETS | 16,124,927 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 26,951 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,791 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 6,376,671 |
| All Other Shares & Deposits | 1,486,900 |
| TOTAL SHARES & DEPOSITS | 7,863,571 |
| TOTAL LIABILITIES | 7,897,313 |
| Regular Reserve | 1,246,729 |
| Other Reserves | 0 |
| Undivided Earnings | 6,980,885 |
| TOTAL EQUITY | 8,227,614 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,124,927 |
| INCOME & EXPENSE | |
| Loan Income | 318,307 |
| Investment Income | 239,142 |
| Other Income | 19,168 |
| Total Employee Compensation & Benefits | 192,471 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 213,503 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,446 |
| Cost of Funds | 51,190 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 103,007 |
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