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IBEW LOCAL UNION 80 FEDERAL CREDIT UNION

Dec, 31, 2023 — IBEW LOCAL UNION 80 FEDERAL CREDIT UNION is a federal credit union headquartered in NORFOLK, VA with 0 branch location and about $1.51 million in total assets. Opened 54 years ago in 1970, IBEW LOCAL UNION 80 FEDERAL CREDIT UNION has about 683 members offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:IBEW LOCAL UNION 80 FEDERAL CREDIT UNION
Address:
(Main Office)
5307 E Virginia Beach Blvd
NORFOLK, VA 23502
Phone:(757) 480-1767
Fax:(757) 480-3038
Website:n/a
Branches:0 branch locations
Members:683
Credit Union Type:Federal Credit Union
Charter Number:20004
Membership Type:Associational - Other than religious or fraternal, or 'low-income'
Corporate Credit Union:No
Year Opened:1970
Last Audited:Dec 01, 2022
FHLB Member:No
Low Income Designation:No
Assets:$1,511,524
CEO/Manager:Angela R Fortner
Chairperson:James N Huban

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 296,794
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 0
 Unsecured Loans 94,194
 Other Loans 310,272
 TOTAL LOANS 404,467
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,218
 Land And Building 0
 Other Fixed Assets 2,877
 NCUSIF Deposit 14,184
 All Other Assets 0
  TOTAL ASSETS 1,511,524
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,344
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 0
 Regular shares 1,358,819
 All Other Shares & Deposits 24,106
  TOTAL SHARES & DEPOSITS 1,382,924
  TOTAL LIABILITIES 1,384,268
 Regular Reserve 0
 Other Reserves 38,488
 Undivided Earnings 88,768
  TOTAL EQUITY 127,256
  TOTAL LIABILITIES, SHARES, & EQUITY 1,511,524
INCOME & EXPENSE  
 Loan Income 28,902
 Investment Income 32,578
 Other Income 1,180
 Total Employee Compensation & Benefits 0
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 39,815
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 51,000
 Cost of Funds 907
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -29,062
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