Jun, 30, 2024 — MATANUSKA VALLEY FEDERAL CREDIT UNION is a federal credit union headquartered in PALMER, AK with 11 branch locations and about $814.53 million in total assets. Opened 76 years ago in 1948, MATANUSKA VALLEY FEDERAL CREDIT UNION has about 53,710 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 |
|---|---|
| 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: | 53,710 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 5924 |
|---|---|
| Membership Type: | Community - Rural District |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $814,526,424 |
| CEO/Manager: | Ed Gravley |
| Chairperson: | Karen Foster |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 61,085,575 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 212,539,863 |
| Unsecured Loans | 14,036,238 |
| Other Loans | 191,211,739 |
| TOTAL LOANS | 425,221,551 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -3,102,758 |
| Land And Building | 6,095,567 |
| Other Fixed Assets | 1,448,274 |
| NCUSIF Deposit | 6,296,060 |
| All Other Assets | 243,153 |
| TOTAL ASSETS | 814,526,424 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 14,952 |
| Notes & Interest Payable | 67,077 |
| Accounts Payable & Other Liabilities | 10,479,930 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 221,467,384 |
| Regular shares | 223,028,559 |
| All Other Shares & Deposits | 315,845,904 |
| TOTAL SHARES & DEPOSITS | 760,341,847 |
| TOTAL LIABILITIES | 770,903,806 |
| Regular Reserve | 0 |
| Other Reserves | -28,902,843 |
| Undivided Earnings | 72,525,461 |
| TOTAL EQUITY | 43,622,618 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 814,526,424 |
| INCOME & EXPENSE | |
| Loan Income | 12,570,819 |
| Investment Income | 4,842,424 |
| Other Income | 1,686,054 |
| Total Employee Compensation & Benefits | 10,898,223 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 6,505,793 |
| Non-operating Income & (Expense) | 27,518 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 742,744 |
| Cost of Funds | 851,404 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,112,611 |
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