Dec, 31, 2023 — LONG REACH FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLEBOURNE, WV with 4 branch locations and about $152.05 million in total assets. Opened 49 years ago in 1975, LONG REACH FEDERAL CREDIT UNION has about 9,555 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | LONG REACH FEDERAL CREDIT UNION |
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Address: (Main Office) | 315 Main St MIDDLEBOURNE, WV 26149-9602 |
Phone: | (304) 758-4308 |
Fax: | (304) 758-4236 |
Website: | https://www.lrefcu.org |
Branches: | 4 branch locations |
Members: | 9,555 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 22241 |
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Membership Type: | Multiple common bond - Primarily communications and utilities |
Corporate Credit Union: | No |
Year Opened: | 1975 |
Last Audited: | Apr 01, 2023 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $152,052,171 |
CEO/Manager: | Steven Reed |
Chairperson: | Gregory K Arnott |
ASSETS: | $ Amount |
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Cash & Equivalents | 9,238,198 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 23,300,652 |
Unsecured Loans | 12,348,442 |
Other Loans | 73,607,421 |
TOTAL LOANS | 109,256,515 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -518,494 |
Land And Building | 2,612,053 |
Other Fixed Assets | 48,116 |
NCUSIF Deposit | 1,170,820 |
All Other Assets | 79,381 |
TOTAL ASSETS | 152,052,171 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 108,214 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 19,708,078 |
Regular shares | 56,957,190 |
All Other Shares & Deposits | 60,476,218 |
TOTAL SHARES & DEPOSITS | 137,141,486 |
TOTAL LIABILITIES | 137,249,700 |
Regular Reserve | 0 |
Other Reserves | 822,032 |
Undivided Earnings | 13,980,439 |
TOTAL EQUITY | 14,802,471 |
TOTAL LIABILITIES, SHARES, & EQUITY | 152,052,171 |
INCOME & EXPENSE | |
Loan Income | 5,338,179 |
Investment Income | 990,252 |
Other Income | 636,751 |
Total Employee Compensation & Benefits | 1,972,551 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 1,970,123 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 402,258 |
Cost of Funds | 1,258,595 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,109,261 |
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