Dec, 31, 2023 — CREDIT UNION OF RICHMOND INC is a federally insured state chartered credit union headquartered in RICHMOND, VA with 1 branch location and about $65.80 million in total assets. Opened 101 years ago in 1923, CREDIT UNION OF RICHMOND INC has about 5,100 members and employs 14 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | CREDIT UNION OF RICHMOND INC |
|---|---|
| Address: (Main Office) | 1601 Ownby Ln RICHMOND, VA 23220 |
| Phone: | (804) 355-9684 |
| Fax: | (804) 355-9725 |
| Website: | https://www.curich.org |
| Branches: | 1 branch locations |
| Members: | 5,100 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66929 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1923 |
| Last Audited: | Jun 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $65,799,082 |
| CEO/Manager: | Arthur C Hart |
| Chairperson: | Alvin Strother |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 10,173,181 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 3,736,620 |
| Unsecured Loans | 5,769,930 |
| Other Loans | 16,606,099 |
| TOTAL LOANS | 26,112,649 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -228,049 |
| Land And Building | 1,364,779 |
| Other Fixed Assets | 118,476 |
| NCUSIF Deposit | 515,312 |
| All Other Assets | 14,647 |
| TOTAL ASSETS | 65,799,082 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -1,162,847 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 11,233,015 |
| Regular shares | 32,545,005 |
| All Other Shares & Deposits | 12,219,672 |
| TOTAL SHARES & DEPOSITS | 55,997,692 |
| TOTAL LIABILITIES | 54,835,442 |
| Regular Reserve | 0 |
| Other Reserves | 587,766 |
| Undivided Earnings | 10,375,874 |
| TOTAL EQUITY | 10,963,640 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 65,799,082 |
| INCOME & EXPENSE | |
| Loan Income | 1,721,601 |
| Investment Income | 957,424 |
| Other Income | 450,042 |
| Total Employee Compensation & Benefits | 1,468,131 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,722,887 |
| Non-operating Income & (Expense) | -35,364 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 50,101 |
| Cost of Funds | 289,165 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -68,874 |
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