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FAIRMONT FEDERAL CREDIT UNION

Dec, 31, 2021 — FAIRMONT FEDERAL CREDIT UNION is a federal credit union headquartered in FAIRMONT, WV with 9 branch locations and about $489.90 million in total assets. Opened 83 years ago in 1939, FAIRMONT FEDERAL CREDIT UNION has about 42,546 members and employs 123 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FAIRMONT FEDERAL CREDIT UNION
Address:
(Main Office)
2 The Credit Union Way
FAIRMONT, WV 26554-1567
Phone:(304) 363-5320
Fax:(304) 363-5470
Website:http://www.fairmontfcu.com
Branches:9 branch locations
Members:42,546
Credit Union Type:Federal Credit Union
Charter Number:3439
Membership Type:Community credit unions, urban or rural, other than those designated 'low income'
Corporate Credit Union:No
Year Opened:1939
Last Audited:Jun 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$489,903,629
CEO/Manager:Cindy B Dickey
Chairperson:George Levitsky, Jr.

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 137,181,185
TOTAL INVESTMENTS 38,673,894
Loans Held for Sale 83,135
 
 Real Estate Loans 161,366,195
 Unsecured Loans 5,525,275
 Other Loans 109,542,951
 TOTAL LOANS 276,434,421
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -360,504
 Land And Building 14,502,699
 Other Fixed Assets 1,009,577
 NCUSIF Deposit 4,196,332
 All Other Assets 18,182,890
  TOTAL ASSETS 489,903,629
LIABILITIES & CAPITAL:  
 Dividends Payable 30,304
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 5,326,600
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 168,699,808
 Regular shares 226,016,634
 All Other Shares & Deposits 54,159,121
  TOTAL SHARES & DEPOSITS 448,875,563
  TOTAL LIABILITIES 454,232,467
 Regular Reserve 6,250,000
 Other Reserves -4,478,230
 Undivided Earnings 33,899,392
  TOTAL EQUITY 35,671,162
  TOTAL LIABILITIES, SHARES, & EQUITY 489,903,629
INCOME & EXPENSE  
 Loan Income 9,544,240
 Investment Income 928,868
 Other Income 2,285,190
 Total Employee Compensation & Benefits 7,083,549
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 7,623,824
 Non-operating Income & (Expense) -831
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -46,302
 Cost of Funds 1,100,721
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,422,232
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