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PRESTON FEDERAL CREDIT UNION

Mar, 31, 2021 — PRESTON FEDERAL CREDIT UNION is a federal credit union headquartered in KINGWOOD, WV with 1 branch location and about $31.43 million in total assets. Opened 43 years ago in 1978, PRESTON FEDERAL CREDIT UNION has about 1,670 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:PRESTON FEDERAL CREDIT UNION
Address:
(Main Office)
434 E MAIN ST
KINGWOOD, WV 26537
Phone:(304) 329-2699
Fax:(304) 329-2522
Website:https://prestonfcu.com/
Branches:1 branch locations
Members:1,670
Credit Union Type:Federal Credit Union
Charter Number:23015
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1978
Last Audited:Jun 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$31,426,748
CEO/Manager:Cheri L Wooten
Chairperson:ROSEMARY HOUSER

Call Report

  • Real Estate Loans
  • Risk Based Loans
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 1,386,091
TOTAL INVESTMENTS 22,549,398
Loans Held for Sale 0
 
 Real Estate Loans 1,401,955
 Unsecured Loans 318,985
 Other Loans 5,138,983
 TOTAL LOANS 6,859,923
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,876
 Land And Building 252,992
 Other Fixed Assets 119,458
 NCUSIF Deposit 228,422
 All Other Assets 63,340
  TOTAL ASSETS 31,426,748
LIABILITIES & CAPITAL:  
 Dividends Payable 1,406
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 10,002
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,422,904
 Regular shares 18,194,670
 All Other Shares & Deposits 7,331,209
  TOTAL SHARES & DEPOSITS 27,948,783
  TOTAL LIABILITIES 27,960,191
 Regular Reserve 127,303
 Other Reserves 0
 Undivided Earnings 3,339,254
  TOTAL EQUITY 3,466,557
  TOTAL LIABILITIES, SHARES, & EQUITY 31,426,748
INCOME & EXPENSE  
 Loan Income 70,797
 Investment Income 85,352
 Other Income 4,781
 Total Employee Compensation & Benefits 65,216
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 56,257
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 7,729
 Cost of Funds 38,911
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -5,451
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