Mar, 31, 2021 — TWIN OAKS FEDERAL CREDIT UNION is a federal credit union headquartered in Apple Grove, WV with 2 branch locations and about $6.77 million in total assets. Opened 44 years ago in 1977, TWIN OAKS FEDERAL CREDIT UNION has about 1,338 members and employs 5 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | TWIN OAKS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 70 Apple Grove, WV 25502 |
| Phone: | (304) 576-4056 |
| Fax: | (304) 576-2447 |
| Website: | http://www.twinoaksfcu.com |
| Branches: | 2 branch locations |
| Members: | 1,338 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 22681 |
|---|---|
| Membership Type: | Multiple common bond - Primarily petroleum refining |
| Corporate Credit Union: | No |
| Year Opened: | 1977 |
| Last Audited: | Apr 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $6,768,965 |
| CEO/Manager: | Carrie A Wamsley |
| Chairperson: | Charles W Garland |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,154,790 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 689,744 |
| Other Loans | 4,938,586 |
| TOTAL LOANS | 5,628,330 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -79,907 |
| Land And Building | 0 |
| Other Fixed Assets | 10,264 |
| NCUSIF Deposit | 55,488 |
| All Other Assets | 0 |
| TOTAL ASSETS | 6,768,965 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,230 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 4,384 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 3,038,735 |
| All Other Shares & Deposits | 3,118,374 |
| TOTAL SHARES & DEPOSITS | 6,157,109 |
| TOTAL LIABILITIES | 6,165,723 |
| Regular Reserve | 170,735 |
| Other Reserves | 0 |
| Undivided Earnings | 432,507 |
| TOTAL EQUITY | 603,242 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 6,768,965 |
| INCOME & EXPENSE | |
| Loan Income | 112,295 |
| Investment Income | 0 |
| Other Income | 5,693 |
| Total Employee Compensation & Benefits | 42,876 |
| NCUSIF Premiums Expense | 762 |
| Total Other Operating Expenses | 29,623 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 13,000 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 31,971 |
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