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ELEMENT FEDERAL CREDIT UNION

Jun, 30, 2021 — ELEMENT FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTON, WV with 3 branch locations and about $41.07 million in total assets. Opened 43 years ago in 1978, ELEMENT FEDERAL CREDIT UNION has about 4,400 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 251984386
Name:ELEMENT FEDERAL CREDIT UNION
Address:
(Main Office)
3418 MACCORKLE AVE SE
CHARLESTON, WV 25304
Phone:(304) 721-4145
Fax:(304) 342-3147
Website:http://www.elementfcu.org
Branches:3 branch locations
Members:4,400
Credit Union Type:Federal Credit Union
Charter Number:23162
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1978
Last Audited:Dec 01, 2020
FHLB Member:No
Low Income Designation:No
Assets:$41,073,721
CEO/Manager:Linda Bodie
Chairperson:Stephan Looney

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 7,054,373
TOTAL INVESTMENTS 3,385,686
Loans Held for Sale 0
 
 Real Estate Loans 5,909,570
 Unsecured Loans 2,530,256
 Other Loans 20,750,501
 TOTAL LOANS 29,190,327
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -598,315
 Land And Building 298,687
 Other Fixed Assets 0
 NCUSIF Deposit 344,595
 All Other Assets 1,398,368
  TOTAL ASSETS 41,073,721
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 655,092
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,550,276
 Regular shares 13,662,088
 All Other Shares & Deposits 13,414,091
  TOTAL SHARES & DEPOSITS 35,626,455
  TOTAL LIABILITIES 36,281,547
 Regular Reserve 167,604
 Other Reserves 0
 Undivided Earnings 4,624,570
  TOTAL EQUITY 4,792,174
  TOTAL LIABILITIES, SHARES, & EQUITY 41,073,721
INCOME & EXPENSE  
 Loan Income 977,255
 Investment Income 39,762
 Other Income 339,893
 Total Employee Compensation & Benefits 423,639
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 451,075
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 115,000
 Cost of Funds 83,401
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 283,795
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