Dec, 31, 2022 — LONG REACH FEDERAL CREDIT UNION is a federal credit union headquartered in MIDDLEBOURNE, WV with 4 branch locations and about $133.39 million in total assets. Opened 48 years ago in 1975, LONG REACH FEDERAL CREDIT UNION has about 8,737 members and employs 25 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 |
|---|---|
| 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: | 8,737 |
| 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, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $133,393,979 |
| CEO/Manager: | Steven R Reed |
| Chairperson: | Gregory K Arnott |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,377,854 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,701,987 |
| Unsecured Loans | 9,170,906 |
| Other Loans | 59,784,584 |
| TOTAL LOANS | 88,657,477 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -523,877 |
| Land And Building | 2,278,751 |
| Other Fixed Assets | 44,529 |
| NCUSIF Deposit | 978,487 |
| All Other Assets | 70,455 |
| TOTAL ASSETS | 133,393,979 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 71,175 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,248,191 |
| Regular shares | 63,487,457 |
| All Other Shares & Deposits | 38,422,766 |
| TOTAL SHARES & DEPOSITS | 121,158,414 |
| TOTAL LIABILITIES | 121,229,589 |
| Regular Reserve | 0 |
| Other Reserves | 822,032 |
| Undivided Earnings | 11,342,358 |
| TOTAL EQUITY | 12,164,390 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 133,393,979 |
| INCOME & EXPENSE | |
| Loan Income | 3,088,431 |
| Investment Income | 276,957 |
| Other Income | 396,837 |
| Total Employee Compensation & Benefits | 1,212,534 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,232,363 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,500 |
| Cost of Funds | 293,062 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,526,388 |
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