Dec, 31, 2023 — FAIRMONT FEDERAL CREDIT UNION is a federal credit union headquartered in FAIRMONT, WV with 9 branch locations and about $487.41 million in total assets. Opened 85 years ago in 1939, FAIRMONT FEDERAL CREDIT UNION has about 43,937 members and employs 117 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: | https://www.fairmontfcu.com |
| Branches: | 9 branch locations |
| Members: | 43,937 |
| 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, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $487,410,788 |
| CEO/Manager: | Cindy B Dickey |
| Chairperson: | C. Allan Keener |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 31,999,279 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 172,265,766 |
| Unsecured Loans | 6,467,294 |
| Other Loans | 170,034,129 |
| TOTAL LOANS | 349,133,421 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,072,938 |
| Land And Building | 13,927,786 |
| Other Fixed Assets | 498,163 |
| NCUSIF Deposit | 4,386,208 |
| All Other Assets | 425,973 |
| TOTAL ASSETS | 487,410,788 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 126,323 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 8,388,743 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 150,861,062 |
| Regular shares | 217,610,737 |
| All Other Shares & Deposits | 73,820,876 |
| TOTAL SHARES & DEPOSITS | 442,292,676 |
| TOTAL LIABILITIES | 450,807,742 |
| Regular Reserve | 0 |
| Other Reserves | -10,003,492 |
| Undivided Earnings | 46,606,538 |
| TOTAL EQUITY | 36,603,046 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 487,410,788 |
| INCOME & EXPENSE | |
| Loan Income | 13,131,177 |
| Investment Income | 3,372,755 |
| Other Income | 2,228,236 |
| Total Employee Compensation & Benefits | 7,988,064 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 8,371,221 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 34,340 |
| Cost of Funds | 2,327,933 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 4,593,680 |
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