Dec, 31, 2021 — MEMBERS CHOICE WV FEDERAL CREDIT UNION is a federal credit union headquartered in CHARLESTON, WV with 1 branch location and about $94.09 million in total assets. Opened 80 years ago in 1942, MEMBERS CHOICE WV FEDERAL CREDIT UNION has about 7,202 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS CHOICE WV FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 201 Ohio Ave CHARLESTON, WV 25302-2209 |
| Phone: | (304) 346-5242 |
| Fax: | (304) 346-5262 |
| Website: | http://www.memberschoicewv.com |
| Branches: | 1 branch locations |
| Members: | 7,202 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 4969 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1942 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $94,092,213 |
| CEO/Manager: | Stephanie J Rippetoe |
| Chairperson: | Raymond Joseph |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,107,828 |
| TOTAL INVESTMENTS | 51,595,000 |
| Loans Held for Sale | 252,200 |
| Real Estate Loans | 9,290,850 |
| Unsecured Loans | 2,493,261 |
| Other Loans | 19,998,294 |
| TOTAL LOANS | 31,782,405 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -257,253 |
| Land And Building | 1,175,585 |
| Other Fixed Assets | 311,051 |
| NCUSIF Deposit | 731,575 |
| All Other Assets | 2,393,822 |
| TOTAL ASSETS | 94,092,213 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 15,717 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -38,879 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,229,051 |
| Regular shares | 48,751,627 |
| All Other Shares & Deposits | 19,427,968 |
| TOTAL SHARES & DEPOSITS | 76,408,646 |
| TOTAL LIABILITIES | 76,385,484 |
| Regular Reserve | 1,401,864 |
| Other Reserves | 0 |
| Undivided Earnings | 16,304,865 |
| TOTAL EQUITY | 17,706,729 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 94,092,213 |
| INCOME & EXPENSE | |
| Loan Income | 1,480,581 |
| Investment Income | 786,745 |
| Other Income | 688,695 |
| Total Employee Compensation & Benefits | 1,069,630 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,041,953 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 105,000 |
| Cost of Funds | 232,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 537,094 |
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