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LONG REACH FEDERAL CREDIT UNION

Dec, 31, 2021 — LONG REACH FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLEBOURNE, WV with 4 branch locations and about $117.27 million in total assets. Opened 47 years ago in 1975, LONG REACH FEDERAL CREDIT UNION has about 8,303 members and employs 24 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: 243486067
Name:LONG REACH FEDERAL CREDIT UNION
Address:
(Main Office)
315 Main St
MIDDLEBOURNE, WV 26149-9602
Phone:(304) 758-4308
Fax:(304) 758-4236
Website:http://www.lrefcu.org
Branches:4 branch locations
Members:8,303
Credit Union Type:Federal Credit Union
Charter Number:22241
Membership Type:Multiple common bond - Primarily communications and utilities
Corporate Credit Union:No
Year Opened:1975
Last Audited:Apr 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$117,268,244
CEO/Manager:Steven R Reed
Chairperson:Gregory K Arnott

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 21,748,430
TOTAL INVESTMENTS 15,021,688
Loans Held for Sale 0
 
 Real Estate Loans 18,946,590
 Unsecured Loans 7,958,992
 Other Loans 50,687,445
 TOTAL LOANS 77,593,027
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -657,169
 Land And Building 2,276,706
 Other Fixed Assets 52,570
 NCUSIF Deposit 903,896
 All Other Assets 329,096
  TOTAL ASSETS 117,268,244
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 121,631
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 16,902,888
 Regular shares 53,009,433
 All Other Shares & Deposits 36,596,290
  TOTAL SHARES & DEPOSITS 106,508,611
  TOTAL LIABILITIES 106,630,242
 Regular Reserve 822,032
 Other Reserves 0
 Undivided Earnings 9,815,970
  TOTAL EQUITY 10,638,002
  TOTAL LIABILITIES, SHARES, & EQUITY 117,268,244
INCOME & EXPENSE  
 Loan Income 3,864,243
 Investment Income 191,161
 Other Income 442,720
 Total Employee Compensation & Benefits 1,312,505
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,487,127
 Non-operating Income & (Expense) 28,195
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 119,500
 Cost of Funds 435,637
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,824,188
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