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National Credit Union Service Organization

NOVA CREDIT UNION

Jun, 30, 2024 — NOVA CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 5 branch locations and about $130.65 million in total assets. Opened 91 years ago in 1934, NOVA CREDIT UNION has about 11,740 members and employs 48 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253075031
Name:NOVA CREDIT UNION
Address:
(Main Office)
3601 Mulberry Church Rd
CHARLOTTE, NC 28208
Phone:(704) 392-3418
Fax:(704) 409-2220
Website:https://www.novacu.com
Branches:5 branch locations
Members:11,740
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:63425
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1934
Last Audited:May 01, 2022
FHLB Member:Yes
Low Income Designation:No
Assets:$130,651,333
CEO/Manager:Michelle McGee
Chairperson:Phillip Kridel

Call Report

  • Credit Builder
  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 15,723,934
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 40,947,240
 Unsecured Loans 3,888,505
 Other Loans 25,722,436
 TOTAL LOANS 70,558,181
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -191,900
 Land And Building 4,655,249
 Other Fixed Assets 175,855
 NCUSIF Deposit 1,066,077
 All Other Assets 0
  TOTAL ASSETS 130,651,333
LIABILITIES & CAPITAL:  
 Dividends Payable 58,943
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 1,657,293
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 23,575,970
 Regular shares 53,963,645
 All Other Shares & Deposits 34,415,458
  TOTAL SHARES & DEPOSITS 111,955,073
  TOTAL LIABILITIES 113,671,309
 Regular Reserve 0
 Other Reserves 7,481,490
 Undivided Earnings 9,498,534
  TOTAL EQUITY 16,980,024
  TOTAL LIABILITIES, SHARES, & EQUITY 130,651,333
INCOME & EXPENSE  
 Loan Income 2,546,829
 Investment Income 537,529
 Other Income 1,165,148
 Total Employee Compensation & Benefits 2,308,398
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 2,966,639
 Non-operating Income & (Expense) 1,480,744
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 15,206
 Cost of Funds 160,839
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,251,895
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