Dec, 31, 2023 — ARGENT FEDERAL CREDIT UNION is a federal credit union headquartered in CHESTER, VA with 8 branch locations and about $506.48 million in total assets. Opened 37 years ago in 1987, ARGENT FEDERAL CREDIT UNION has about 36,018 members and employs 93 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: | 8 branch locations |
| Members: | 36,018 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $506,483,279 |
| CEO/Manager: | Jamie Asciolla |
| Chairperson: | Gary D Miller |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 16,075,623 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 92,599,761 |
| Unsecured Loans | 33,323,681 |
| Other Loans | 200,928,173 |
| TOTAL LOANS | 326,851,615 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,608,130 |
| Land And Building | 11,493,545 |
| Other Fixed Assets | 1,322,163 |
| NCUSIF Deposit | 4,204,092 |
| All Other Assets | 165,900 |
| TOTAL ASSETS | 506,483,279 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 16,991,781 |
| Accounts Payable & Other Liabilities | 3,904,579 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 89,457,435 |
| Regular shares | 174,923,495 |
| All Other Shares & Deposits | 185,881,966 |
| TOTAL SHARES & DEPOSITS | 450,262,895 |
| TOTAL LIABILITIES | 471,159,255 |
| Regular Reserve | 0 |
| Other Reserves | 1,437,116 |
| Undivided Earnings | 33,886,908 |
| TOTAL EQUITY | 35,324,024 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 506,483,279 |
| INCOME & EXPENSE | |
| Loan Income | 15,719,026 |
| Investment Income | 1,823,351 |
| Other Income | 1,867,798 |
| Total Employee Compensation & Benefits | 6,343,312 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 7,610,618 |
| Non-operating Income & (Expense) | -182,344 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,621,242 |
| Cost of Funds | 5,994,841 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 947,350 |
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