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PRESTON FEDERAL CREDIT UNION

Dec, 31, 2021 — PRESTON FEDERAL CREDIT UNION is a federal credit union headquartered in KINGWOOD, WV with 1 branch location and about $33.13 million in total assets. Opened 44 years ago in 1978, PRESTON FEDERAL CREDIT UNION has about 1,703 members and employs 6 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:1,703
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$33,128,514
CEO/Manager:Cheri L Wooten
Chairperson:ROSEMARY HOUSER

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,028,191
TOTAL INVESTMENTS 23,363,398
Loans Held for Sale 0
 
 Real Estate Loans 1,357,533
 Unsecured Loans 364,637
 Other Loans 5,400,558
 TOTAL LOANS 7,122,728
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -46,739
 Land And Building 247,229
 Other Fixed Assets 88,837
 NCUSIF Deposit 264,776
 All Other Assets 60,094
  TOTAL ASSETS 33,128,514
LIABILITIES & CAPITAL:  
 Dividends Payable 3,312
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 9,597
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 2,980,384
 Regular shares 19,920,561
 All Other Shares & Deposits 6,684,732
  TOTAL SHARES & DEPOSITS 29,585,677
  TOTAL LIABILITIES 29,598,586
 Regular Reserve 127,303
 Other Reserves 0
 Undivided Earnings 3,402,625
  TOTAL EQUITY 3,529,928
  TOTAL LIABILITIES, SHARES, & EQUITY 33,128,514
INCOME & EXPENSE  
 Loan Income 284,874
 Investment Income 329,433
 Other Income 17,495
 Total Employee Compensation & Benefits 263,419
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 225,545
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,317
 Cost of Funds 107,465
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 57,829
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