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.
Name: | NOVA CREDIT UNION |
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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 |
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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 |
ASSETS: | $ Amount |
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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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