Dec, 31, 2021 — SUMMIT HAMPTON ROADS FEDERAL CREDIT UNION is a federal credit union headquartered in PORTSMOUTH, VA with 1 branch location and about $10.32 million in total assets. Opened 52 years ago in 1970, SUMMIT HAMPTON ROADS FEDERAL CREDIT UNION has about 1,591 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SUMMIT HAMPTON ROADS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 3636 High St PORTSMOUTH, VA 23707 |
| Phone: | (757) 398-2384 |
| Fax: | (757) 398-2684 |
| Website: | http://www.shrfcu.com |
| Branches: | 1 branch locations |
| Members: | 1,591 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19973 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Jan 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $10,320,749 |
| CEO/Manager: | Shwante Snead |
| Chairperson: | Donna Davis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,405,588 |
| TOTAL INVESTMENTS | 2,514,512 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 194,150 |
| Unsecured Loans | 1,141,195 |
| Other Loans | 2,904,635 |
| TOTAL LOANS | 4,239,980 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -72,472 |
| Land And Building | 0 |
| Other Fixed Assets | 3,411 |
| NCUSIF Deposit | 90,105 |
| All Other Assets | 139,625 |
| TOTAL ASSETS | 10,320,749 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 104,868 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,004,116 |
| Regular shares | 4,822,976 |
| All Other Shares & Deposits | 2,006,671 |
| TOTAL SHARES & DEPOSITS | 8,833,763 |
| TOTAL LIABILITIES | 8,938,631 |
| Regular Reserve | 532,780 |
| Other Reserves | 0 |
| Undivided Earnings | 849,338 |
| TOTAL EQUITY | 1,382,118 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 10,320,749 |
| INCOME & EXPENSE | |
| Loan Income | 207,360 |
| Investment Income | 46,416 |
| Other Income | 12,242 |
| Total Employee Compensation & Benefits | 263,539 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 298,174 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 37,000 |
| Cost of Funds | 13,843 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -191,929 |
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