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ELEMENT FEDERAL CREDIT UNION

Mar, 31, 2022 — ELEMENT FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTON, WV with 3 branch locations and about $44.13 million in total assets. Opened 44 years ago in 1978, ELEMENT FEDERAL CREDIT UNION has about 4,417 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:4,417
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, 2021
FHLB Member:No
Low Income Designation:No
Assets:$44,128,589
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 7,863,885
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 5,535,038
 Unsecured Loans 2,609,917
 Other Loans 23,003,659
 TOTAL LOANS 31,148,614
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -574,682
 Land And Building 286,605
 Other Fixed Assets 0
 NCUSIF Deposit 344,595
 All Other Assets 45,136
  TOTAL ASSETS 44,128,589
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 393,141
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 10,090,300
 Regular shares 15,146,334
 All Other Shares & Deposits 13,051,214
  TOTAL SHARES & DEPOSITS 38,287,848
  TOTAL LIABILITIES 38,680,989
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 5,447,600
  TOTAL EQUITY 5,447,600
  TOTAL LIABILITIES, SHARES, & EQUITY 44,128,589
INCOME & EXPENSE  
 Loan Income 500,039
 Investment Income 47,343
 Other Income 205,185
 Total Employee Compensation & Benefits 203,748
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 290,635
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 20,000
 Cost of Funds 31,335
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 206,849
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