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SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION

Dec, 31, 2021 — SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH CHARLESTON, WV with 1 branch location and about $16.71 million in total assets. Opened 57 years ago in 1965, SOUTH CHARLESTON EMPLOYEES FEDERAL CREDIT UNION has about 1,276 members 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 CHARLESTON, WV 25303
Phone:(304) 720-5600
Fax:(304) 720-5401
Website:n/a
Branches:1 branch locations
Members:1,276
Credit Union Type:Federal Credit Union
Charter Number:16989
Membership Type:Multiple common bond - other
Corporate Credit Union:No
Year Opened:1965
Last Audited:Oct 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$16,707,076
CEO/Manager:Phala Sigmon
Chairperson:Ted Schuda

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 3,219,013
TOTAL INVESTMENTS 9,818,927
Loans Held for Sale 0
 
 Real Estate Loans 459,484
 Unsecured Loans 660,679
 Other Loans 2,497,998
 TOTAL LOANS 3,618,161
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -36,138
 Land And Building 0
 Other Fixed Assets 14
 NCUSIF Deposit 78,636
 All Other Assets 8,463
  TOTAL ASSETS 16,707,076
LIABILITIES & CAPITAL:  
 Dividends Payable 12,094
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 4,829
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 6,461,213
 All Other Shares & Deposits 1,946,430
  TOTAL SHARES & DEPOSITS 8,407,643
  TOTAL LIABILITIES 8,424,566
 Regular Reserve 1,246,730
 Other Reserves 0
 Undivided Earnings 7,035,780
  TOTAL EQUITY 8,282,510
  TOTAL LIABILITIES, SHARES, & EQUITY 16,707,076
INCOME & EXPENSE  
 Loan Income 272,065
 Investment Income 201,796
 Other Income 0
 Total Employee Compensation & Benefits 192,906
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 197,806
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 8,000
 Cost of Funds 39,184
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 54,896
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