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ELEMENT FEDERAL CREDIT UNION

Dec, 31, 2021 — ELEMENT FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTON, WV with 3 branch locations and about $41.86 million in total assets. Opened 44 years ago in 1978, ELEMENT FEDERAL CREDIT UNION has about 4,403 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:4,403
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:$41,864,691
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 6,362,938
TOTAL INVESTMENTS 3,684,897
Loans Held for Sale 0
 
 Real Estate Loans 5,565,404
 Unsecured Loans 2,660,950
 Other Loans 22,164,816
 TOTAL LOANS 30,391,170
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -579,150
 Land And Building 290,633
 Other Fixed Assets 0
 NCUSIF Deposit 344,595
 All Other Assets 1,369,608
  TOTAL ASSETS 41,864,691
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 335,319
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,881,700
 Regular shares 14,591,368
 All Other Shares & Deposits 12,815,554
  TOTAL SHARES & DEPOSITS 36,288,622
  TOTAL LIABILITIES 36,623,941
 Regular Reserve 167,604
 Other Reserves 0
 Undivided Earnings 5,073,146
  TOTAL EQUITY 5,240,750
  TOTAL LIABILITIES, SHARES, & EQUITY 41,864,691
INCOME & EXPENSE  
 Loan Income 1,999,943
 Investment Income 65,566
 Other Income 747,246
 Total Employee Compensation & Benefits 849,470
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 964,735
 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 151,179
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 732,371
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