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BEACON CREDIT UNION, INC

Dec, 31, 2021 — BEACON CREDIT UNION, INC is a federally insured state chartered credit union headquartered in LYNCHBURG, VA with 8 branch locations and about $245.90 million in total assets. Opened 83 years ago in 1939, BEACON CREDIT UNION, INC has about 26,717 members and employs 77 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:BEACON CREDIT UNION, INC
Address:
(Main Office)
107 Leroy Bowen Dr
LYNCHBURG, VA 24502
Phone:(434) 237-1566
Fax:(434) 237-1544
Website:http://www.mybcu.org
Branches:8 branch locations
Members:26,717
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66965
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1939
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$245,896,107
CEO/Manager:Greg McConville
Chairperson:Philip A Hynes

Call Report

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 19,283,815
TOTAL INVESTMENTS 2,297,128
Loans Held for Sale 0
 
 Real Estate Loans 42,075,844
 Unsecured Loans 21,705,030
 Other Loans 142,149,203
 TOTAL LOANS 205,930,077
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -960,105
 Land And Building 8,363,359
 Other Fixed Assets 1,106,515
 NCUSIF Deposit 2,040,909
 All Other Assets 7,834,409
  TOTAL ASSETS 245,896,107
LIABILITIES & CAPITAL:  
 Dividends Payable 53,220
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 902,654
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 40,705,483
 Regular shares 98,009,710
 All Other Shares & Deposits 80,855,643
  TOTAL SHARES & DEPOSITS 219,570,836
  TOTAL LIABILITIES 220,526,710
 Regular Reserve 3,586,996
 Other Reserves 7,230,115
 Undivided Earnings 14,552,286
  TOTAL EQUITY 25,369,397
  TOTAL LIABILITIES, SHARES, & EQUITY 245,896,107
INCOME & EXPENSE  
 Loan Income 9,549,552
 Investment Income 99,100
 Other Income 3,182,268
 Total Employee Compensation & Benefits 5,387,760
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 4,858,754
 Non-operating Income & (Expense) 6,986
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 132,000
 Cost of Funds 663,891
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 3,144,864
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