Dec, 31, 2021 — HAMPTON ROADS EDUC CREDIT UNION INC is a federally insured state chartered credit union headquartered in HAMPTON, VA with 1 branch location and about $40.76 million in total assets. Opened 68 years ago in 1954, HAMPTON ROADS EDUC CREDIT UNION INC has about 4,820 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HAMPTON ROADS EDUC CREDIT UNION INC |
|---|---|
| Address: (Main Office) | 2130 Cunningham Dr HAMPTON, VA 23666 |
| Phone: | (757) 838-0707 |
| Fax: | (757) 838-0776 |
| Website: | http://www.hrecu.org |
| Branches: | 1 branch locations |
| Members: | 4,820 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66913 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Sep 01, 2021 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $40,763,314 |
| CEO/Manager: | Karen F Orie |
| Chairperson: | CORNELIOUS CHAMBLISS |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,123,114 |
| TOTAL INVESTMENTS | 17,908,705 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 605,289 |
| Unsecured Loans | 4,738,429 |
| Other Loans | 9,263,417 |
| TOTAL LOANS | 14,607,135 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -17,398 |
| Land And Building | 0 |
| Other Fixed Assets | 140,138 |
| NCUSIF Deposit | 357,400 |
| All Other Assets | 2,644,220 |
| TOTAL ASSETS | 40,763,314 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 4,468 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 426,304 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 9,192,052 |
| Regular shares | 26,432,267 |
| All Other Shares & Deposits | 2,519,400 |
| TOTAL SHARES & DEPOSITS | 38,143,719 |
| TOTAL LIABILITIES | 38,574,491 |
| Regular Reserve | 737,288 |
| Other Reserves | -825,266 |
| Undivided Earnings | 2,276,801 |
| TOTAL EQUITY | 2,188,823 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 40,763,314 |
| INCOME & EXPENSE | |
| Loan Income | 1,008,370 |
| Investment Income | 229,110 |
| Other Income | 406,542 |
| Total Employee Compensation & Benefits | 689,295 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 902,682 |
| Non-operating Income & (Expense) | 105,359 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -65,848 |
| Cost of Funds | 22,465 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 254,811 |
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