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WEST VIRGINIA FEDERAL CREDIT UNION

Dec, 31, 2021 — WEST VIRGINIA FEDERAL CREDIT UNION is a federal credit union headquartered in SOUTH CHARLESTON, WV with 2 branch locations and about $135.17 million in total assets. Opened 57 years ago in 1965, WEST VIRGINIA FEDERAL CREDIT UNION has about 7,849 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:WEST VIRGINIA FEDERAL CREDIT UNION
Address:
(Main Office)
318 5th Ave
SOUTH CHARLESTON, WV 25303-1240
Phone:(304) 744-7604
Fax:(304) 744-1993
Website:http://www.wvfcu.org
Branches:2 branch locations
Members:7,849
Credit Union Type:Federal Credit Union
Charter Number:17057
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1965
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$135,165,495
CEO/Manager:Nicholas P Arvon
Chairperson:Greg Cox

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 17,527,134
TOTAL INVESTMENTS 44,120,941
Loans Held for Sale 0
 
 Real Estate Loans 37,177,699
 Unsecured Loans 1,746,159
 Other Loans 27,403,727
 TOTAL LOANS 66,327,585
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -890,892
 Land And Building 1,247,439
 Other Fixed Assets 307,621
 NCUSIF Deposit 1,099,368
 All Other Assets 5,426,299
  TOTAL ASSETS 135,165,495
LIABILITIES & CAPITAL:  
 Dividends Payable 305
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 563,597
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 23,709,621
 Regular shares 37,318,922
 All Other Shares & Deposits 53,173,147
  TOTAL SHARES & DEPOSITS 114,201,690
  TOTAL LIABILITIES 114,765,592
 Regular Reserve 3,288,053
 Other Reserves 495,346
 Undivided Earnings 16,616,504
  TOTAL EQUITY 20,399,903
  TOTAL LIABILITIES, SHARES, & EQUITY 135,165,495
INCOME & EXPENSE  
 Loan Income 3,145,907
 Investment Income 712,725
 Other Income 457,123
 Total Employee Compensation & Benefits 2,259,316
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,691,216
 Non-operating Income & (Expense) 51,823
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 120,000
 Cost of Funds 171,658
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 775,197
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