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. |
| 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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