Dec, 31, 2023 — BEACH MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in VIRGINIA BEACH, VA with 2 branch locations and about $163.16 million in total assets. Opened 54 years ago in 1970, BEACH MUNICIPAL FEDERAL CREDIT UNION has about 9,229 members and employs 34 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BEACH MUNICIPAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 4164 Virginia Beach Blvd VIRGINIA BEACH, VA 23452 |
| Phone: | (757) 333-7787 |
| Fax: | (757) 395-4794 |
| Website: | https://www.beachmunicipal.org |
| Branches: | 2 branch locations |
| Members: | 9,229 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 20394 |
|---|---|
| Membership Type: | Federal, State, Local Government |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $163,162,331 |
| CEO/Manager: | Geri M Metzger |
| Chairperson: | Nianza Wallace |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,145,722 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 27,419,793 |
| Unsecured Loans | 11,608,874 |
| Other Loans | 46,878,246 |
| TOTAL LOANS | 85,906,913 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -279,018 |
| Land And Building | 3,659,572 |
| Other Fixed Assets | 316,297 |
| NCUSIF Deposit | 1,366,398 |
| All Other Assets | 213,245 |
| TOTAL ASSETS | 163,162,331 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,899 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 814,136 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 28,292,468 |
| Regular shares | 51,938,281 |
| All Other Shares & Deposits | 62,944,571 |
| TOTAL SHARES & DEPOSITS | 143,175,320 |
| TOTAL LIABILITIES | 143,991,355 |
| Regular Reserve | 0 |
| Other Reserves | -2,159,764 |
| Undivided Earnings | 21,330,740 |
| TOTAL EQUITY | 19,170,976 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 163,162,331 |
| INCOME & EXPENSE | |
| Loan Income | 4,423,556 |
| Investment Income | 1,772,284 |
| Other Income | 748,239 |
| Total Employee Compensation & Benefits | 2,651,646 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,280,600 |
| Non-operating Income & (Expense) | 159,845 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -4,470 |
| Cost of Funds | 904,871 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,840,820 |
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