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National Credit Union Service Organization

NOVA CREDIT UNION

Dec, 31, 2021 — NOVA CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLOTTE, NC with 5 branch locations and about $129.68 million in total assets. Opened 88 years ago in 1934, NOVA CREDIT UNION has about 12,103 members and employs 42 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:12,103
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:Sep 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$129,681,748
CEO/Manager:Joy Watts
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 17,561,458
TOTAL INVESTMENTS 34,173,223
Loans Held for Sale 0
 
 Real Estate Loans 38,974,665
 Unsecured Loans 3,958,884
 Other Loans 25,389,641
 TOTAL LOANS 68,323,190
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -235,806
 Land And Building 4,709,001
 Other Fixed Assets 69,170
 NCUSIF Deposit 1,061,636
 All Other Assets 4,019,876
  TOTAL ASSETS 129,681,748
LIABILITIES & CAPITAL:  
 Dividends Payable 50,136
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 2,132,519
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 20,930,832
 Regular shares 51,244,117
 All Other Shares & Deposits 36,149,212
  TOTAL SHARES & DEPOSITS 108,324,161
  TOTAL LIABILITIES 110,506,816
 Regular Reserve 4,620,000
 Other Reserves 6,308,293
 Undivided Earnings 8,246,639
  TOTAL EQUITY 19,174,932
  TOTAL LIABILITIES, SHARES, & EQUITY 129,681,748
INCOME & EXPENSE  
 Loan Income 3,686,261
 Investment Income 592,535
 Other Income 1,492,323
 Total Employee Compensation & Benefits 2,840,946
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,871,982
 Non-operating Income & (Expense) 417,563
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -578,292
 Cost of Funds 175,173
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 1,194,641
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