Jun, 30, 2024 — CENTRAL VIRGINIA FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 5 branch locations and about $204.65 million in total assets. Opened 48 years ago in 1976, CENTRAL VIRGINIA FEDERAL CREDIT UNION has about 13,511 members and employs 50 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CENTRAL VIRGINIA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1638 Mount Athos Rd LYNCHBURG, VA 24504-5429 |
| Phone: | (434) 528-9016 |
| Fax: | (434) 528-2647 |
| Website: | https://www.cvfcu.com |
| Branches: | 5 branch locations |
| Members: | 13,511 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22307 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1976 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $204,648,633 |
| CEO/Manager: | Roger Carson |
| Chairperson: | William Perrow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 28,378,349 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 43,441,441 |
| Unsecured Loans | 20,606,313 |
| Other Loans | 30,823,490 |
| TOTAL LOANS | 94,871,244 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -506,656 |
| Land And Building | 3,466,146 |
| Other Fixed Assets | 1,434,743 |
| NCUSIF Deposit | 1,721,438 |
| All Other Assets | 0 |
| TOTAL ASSETS | 204,648,633 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,621,872 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 44,872,245 |
| Regular shares | 90,767,847 |
| All Other Shares & Deposits | 52,064,923 |
| TOTAL SHARES & DEPOSITS | 187,705,015 |
| TOTAL LIABILITIES | 189,326,887 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 15,321,746 |
| TOTAL EQUITY | 15,321,746 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 204,648,633 |
| INCOME & EXPENSE | |
| Loan Income | 2,842,649 |
| Investment Income | 961,177 |
| Other Income | 1,131,179 |
| Total Employee Compensation & Benefits | 2,075,949 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 2,476,411 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 283,177 |
| Cost of Funds | 118,681 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 965,916 |
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