Mar, 31, 2021 — CENTRAL VIRGINIA FEDERAL CREDIT UNION is a federal credit union headquartered in LYNCHBURG, VA with 5 branch locations and about $184.27 million in total assets. Opened 45 years ago in 1976, CENTRAL VIRGINIA FEDERAL CREDIT UNION has about 13,506 members and employs 54 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) | PO BOX 1660 LYNCHBURG, VA 24505 |
| Phone: | (434) 528-9016 |
| Fax: | (434) 528-2647 |
| Website: | http://www.cvfcu.com |
| Branches: | 5 branch locations |
| Members: | 13,506 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $184,269,274 |
| CEO/Manager: | Roger Carson |
| Chairperson: | William Perrow |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 67,456,529 |
| TOTAL INVESTMENTS | 41,729,015 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 28,436,334 |
| Unsecured Loans | 16,433,574 |
| Other Loans | 22,940,454 |
| TOTAL LOANS | 67,810,362 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -434,129 |
| Land And Building | 3,579,896 |
| Other Fixed Assets | 816,558 |
| NCUSIF Deposit | 1,439,125 |
| All Other Assets | 1,871,918 |
| TOTAL ASSETS | 184,269,274 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 90 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 736,975 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 41,952,607 |
| Regular shares | 81,173,212 |
| All Other Shares & Deposits | 46,534,661 |
| TOTAL SHARES & DEPOSITS | 169,660,480 |
| TOTAL LIABILITIES | 170,397,545 |
| Regular Reserve | 1,597,403 |
| Other Reserves | 0 |
| Undivided Earnings | 12,274,326 |
| TOTAL EQUITY | 13,871,729 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 184,269,274 |
| INCOME & EXPENSE | |
| Loan Income | 840,566 |
| Investment Income | 190,462 |
| Other Income | 303,412 |
| Total Employee Compensation & Benefits | 670,680 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 783,412 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -4,869 |
| Cost of Funds | 48,246 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 101,335 |
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