Dec, 31, 2023 — MATANUSKA VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in PALMER, AK with 11 branch locations and about $934.78 million in total assets. Opened 76 years ago in 1948, MATANUSKA VALLEY FEDERAL CREDIT UNION has about 58,347 members and employs 161 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | MATANUSKA VALLEY FEDERAL CREDIT UNION |
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Address: (Main Office) | 1020 S Bailey St PALMER, AK 99645-6924 |
Phone: | (907) 745-4891 |
Fax: | (907) 745-9131 |
Website: | https://www.mvfcu.coop |
Branches: | 11 branch locations |
Members: | 58,347 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5924 |
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Membership Type: | Community - Rural District |
Corporate Credit Union: | No |
Year Opened: | 1948 |
Last Audited: | Dec 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $934,776,463 |
CEO/Manager: | Ed Gravley |
Chairperson: | Karen Foster |
ASSETS: | $ Amount |
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Cash & Equivalents | 103,181,883 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 223,547,510 |
Unsecured Loans | 16,483,288 |
Other Loans | 277,239,730 |
TOTAL LOANS | 526,718,969 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,439,071 |
Land And Building | 5,989,042 |
Other Fixed Assets | 3,113,015 |
NCUSIF Deposit | 6,763,648 |
All Other Assets | 570,359 |
TOTAL ASSETS | 934,776,463 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 16,195 |
Notes & Interest Payable | 69,786,284 |
Accounts Payable & Other Liabilities | 13,042,800 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 205,502,609 |
Regular shares | 194,082,012 |
All Other Shares & Deposits | 392,726,731 |
TOTAL SHARES & DEPOSITS | 792,311,352 |
TOTAL LIABILITIES | 875,156,631 |
Regular Reserve | 0 |
Other Reserves | -22,808,664 |
Undivided Earnings | 82,428,496 |
TOTAL EQUITY | 59,619,832 |
TOTAL LIABILITIES, SHARES, & EQUITY | 934,776,463 |
INCOME & EXPENSE | |
Loan Income | 24,579,630 |
Investment Income | 12,155,898 |
Other Income | 2,554,514 |
Total Employee Compensation & Benefits | 15,905,528 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 9,721,314 |
Non-operating Income & (Expense) | 36,062 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,079,173 |
Cost of Funds | 8,539,543 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 7,523,386 |
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