Jun, 30, 2024 — ARGENT FEDERAL CREDIT UNION is a federal credit union headquartered in CHESTER, VA with 4 branch locations and about $395.53 million in total assets. Opened 37 years ago in 1987, ARGENT FEDERAL CREDIT UNION has about 27,142 members and employs 67 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ARGENT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 11651 Alliance Cir CHESTER, VA 23831-1451 |
| Phone: | (804) 748-9488 |
| Fax: | (804) 748-7388 |
| Website: | https://www.argentcu.org |
| Branches: | 4 branch locations |
| Members: | 27,142 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24313 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1987 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $395,525,661 |
| CEO/Manager: | Jamie Asciolla |
| Chairperson: | Gary D Miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 8,902,376 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 63,129,208 |
| Unsecured Loans | 27,498,843 |
| Other Loans | 141,869,758 |
| TOTAL LOANS | 232,497,809 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,800,725 |
| Land And Building | 8,474,564 |
| Other Fixed Assets | 1,094,645 |
| NCUSIF Deposit | 3,292,270 |
| All Other Assets | 149,215 |
| TOTAL ASSETS | 395,525,661 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 9,000,000 |
| Accounts Payable & Other Liabilities | 3,733,383 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 72,776,225 |
| Regular shares | 159,546,413 |
| All Other Shares & Deposits | 127,372,277 |
| TOTAL SHARES & DEPOSITS | 359,694,915 |
| TOTAL LIABILITIES | 372,428,298 |
| Regular Reserve | 0 |
| Other Reserves | -7,347,486 |
| Undivided Earnings | 30,444,849 |
| TOTAL EQUITY | 23,097,363 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 395,525,661 |
| INCOME & EXPENSE | |
| Loan Income | 7,491,006 |
| Investment Income | 869,227 |
| Other Income | 1,201,001 |
| Total Employee Compensation & Benefits | 4,257,103 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 4,673,460 |
| Non-operating Income & (Expense) | 1 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,000 |
| Cost of Funds | 776,530 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,373,209 |
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