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THE STATE CREDIT UNION

Dec, 31, 2021 — THE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLESTON, WV with 1 branch location and about $86.82 million in total assets. Opened 34 years ago in 1988, THE STATE CREDIT UNION has about 8,219 members and employs 16 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:THE STATE CREDIT UNION
Address:
(Main Office)
2200 WASHINGTON ST E
CHARLESTON, WV 25311-2219
Phone:(304) 558-0566
Fax:(304) 558-0137
Website:http://www.wvpecu.org
Branches:1 branch locations
Members:8,219
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67222
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1988
Last Audited:Dec 01, 2021
FHLB Member:No
Low Income Designation:No
Assets:$86,818,332
CEO/Manager:BRENT R GRAY
Chairperson:CHARLES MCDANIEL

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 13,339,933
TOTAL INVESTMENTS 25,418,181
Loans Held for Sale 0
 
 Real Estate Loans 17,381,894
 Unsecured Loans 2,877,413
 Other Loans 26,486,118
 TOTAL LOANS 46,745,425
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -541,521
 Land And Building 761,215
 Other Fixed Assets 193,502
 NCUSIF Deposit 701,533
 All Other Assets 200,064
  TOTAL ASSETS 86,818,332
LIABILITIES & CAPITAL:  
 Dividends Payable 453,482
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 367,899
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,654,530
 Regular shares 53,755,363
 All Other Shares & Deposits 10,470,882
  TOTAL SHARES & DEPOSITS 72,880,775
  TOTAL LIABILITIES 73,702,156
 Regular Reserve 790,839
 Other Reserves 278,735
 Undivided Earnings 12,046,602
  TOTAL EQUITY 13,116,176
  TOTAL LIABILITIES, SHARES, & EQUITY 86,818,332
INCOME & EXPENSE  
 Loan Income 2,273,442
 Investment Income 361,729
 Other Income 324,319
 Total Employee Compensation & Benefits 1,278,613
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,099,010
 Non-operating Income & (Expense) 1,899
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 54,000
 Cost of Funds 97,833
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 666,269
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