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BEACH MUNICIPAL FEDERAL CREDIT UNION

Mar, 31, 2021 — BEACH MUNICIPAL FEDERAL CREDIT UNION is a federal credit union headquartered in Virginia Beach, VA with 2 branch locations and about $150.30 million in total assets. Opened 51 years ago in 1970, BEACH MUNICIPAL FEDERAL CREDIT UNION has about 9,504 members and employs 36 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 251483256
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:http://www.beachmunicipal.org
Branches:2 branch locations
Members:9,504
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, 2020
FHLB Member:No
Low Income Designation:No
Assets:$150,300,276
CEO/Manager:Geri M Metzger
Chairperson:Nianza Wallace

Call Report

  • Commercial Loans
  • Credit Builder
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Check Cashing
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,718,028
TOTAL INVESTMENTS 49,225,034
Loans Held for Sale 2,121,394
 
 Real Estate Loans 19,254,952
 Unsecured Loans 11,333,666
 Other Loans 38,343,793
 TOTAL LOANS 68,932,411
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -354,188
 Land And Building 3,915,690
 Other Fixed Assets 556,701
 NCUSIF Deposit 1,083,076
 All Other Assets 5,102,130
  TOTAL ASSETS 150,300,276
LIABILITIES & CAPITAL:  
 Dividends Payable 759
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 716,948
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 25,292,878
 Regular shares 51,684,914
 All Other Shares & Deposits 56,753,591
  TOTAL SHARES & DEPOSITS 133,731,383
  TOTAL LIABILITIES 134,449,090
 Regular Reserve 1,480,628
 Other Reserves -1,787,260
 Undivided Earnings 16,157,818
  TOTAL EQUITY 15,851,186
  TOTAL LIABILITIES, SHARES, & EQUITY 150,300,276
INCOME & EXPENSE  
 Loan Income 888,273
 Investment Income 85,249
 Other Income 172,941
 Total Employee Compensation & Benefits 589,410
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 470,359
 Non-operating Income & (Expense) -688
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -70,666
 Cost of Funds 113,759
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 296,984
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