Jun, 30, 2024 — BEACH MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in VIRGINIA BEACH, VA with 2 branch locations and about $170.35 million in total assets. Opened 54 years ago in 1970, BEACH MUNICIPAL FEDERAL CREDIT UNION has about 9,273 members and employs 31 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: | 9,273 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $170,353,226 |
| CEO/Manager: | Geri M Metzger |
| Chairperson: | Nianza Wallace |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 22,874,880 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 324,572 |
| Real Estate Loans | 21,604,092 |
| Unsecured Loans | 10,597,909 |
| Other Loans | 39,101,209 |
| TOTAL LOANS | 71,303,210 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -172,569 |
| Land And Building | 3,775,989 |
| Other Fixed Assets | 410,939 |
| NCUSIF Deposit | 1,361,347 |
| All Other Assets | 0 |
| TOTAL ASSETS | 170,353,226 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 735 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 739,631 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 33,116,230 |
| Regular shares | 53,879,729 |
| All Other Shares & Deposits | 65,409,590 |
| TOTAL SHARES & DEPOSITS | 152,405,549 |
| TOTAL LIABILITIES | 153,145,915 |
| Regular Reserve | 0 |
| Other Reserves | -1,983,756 |
| Undivided Earnings | 19,191,067 |
| TOTAL EQUITY | 17,207,311 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 170,353,226 |
| INCOME & EXPENSE | |
| Loan Income | 2,506,686 |
| Investment Income | 684,769 |
| Other Income | 541,089 |
| Total Employee Compensation & Benefits | 1,913,446 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,605,346 |
| Non-operating Income & (Expense) | 292,023 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -3,585 |
| Cost of Funds | 323,020 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 790,064 |
| ↑ Back to Top | |