Dec, 31, 2023 — PRESTON FEDERAL CREDIT UNION is a federal credit union headquartered in KINGWOOD, WV with 1 branch location and about $29.48 million in total assets. Opened 46 years ago in 1978, PRESTON FEDERAL CREDIT UNION has about 1,728 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: | PRESTON FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 434 E MAIN ST KINGWOOD, WV 26537-1722 |
| Phone: | (304) 329-2699 |
| Fax: | (304) 329-2522 |
| Website: | https://prestonfcu.com/ |
| Branches: | 1 branch locations |
| Members: | 1,728 |
| 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: | Sep 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $29,479,504 |
| CEO/Manager: | Cheri L Wooten |
| Chairperson: | ROSEMARY HOUSER |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,364,020 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 935,041 |
| Unsecured Loans | 446,106 |
| Other Loans | 7,008,828 |
| TOTAL LOANS | 8,389,975 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -39,875 |
| Land And Building | 254,733 |
| Other Fixed Assets | 46,248 |
| NCUSIF Deposit | 272,043 |
| All Other Assets | 0 |
| TOTAL ASSETS | 29,479,504 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 12,199 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 34,829 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 2,397,693 |
| Regular shares | 15,795,091 |
| All Other Shares & Deposits | 7,604,185 |
| TOTAL SHARES & DEPOSITS | 25,796,969 |
| TOTAL LIABILITIES | 25,843,997 |
| Regular Reserve | 0 |
| Other Reserves | 127,303 |
| Undivided Earnings | 3,508,204 |
| TOTAL EQUITY | 3,635,507 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 29,479,504 |
| INCOME & EXPENSE | |
| Loan Income | 364,226 |
| Investment Income | 380,125 |
| Other Income | 28,531 |
| Total Employee Compensation & Benefits | 255,493 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 261,375 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 235,727 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 33,292 |
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