Dec, 31, 2020 — LOCAL NO. 317 I.A.F.F. CREDIT UNION is a federally insured state chartered credit union headquartered in Charleston, WV with 1 branch location and about $8.86 million in total assets. Opened 82 years ago in 1939, LOCAL NO. 317 I.A.F.F. CREDIT UNION has about 371 members and employs 3 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LOCAL NO. 317 I.A.F.F. CREDIT UNION |
|---|---|
| Address: (Main Office) | PO Box 3736 Charleston, WV 25337 |
| Phone: | (304) 345-9790 |
| Fax: | (304) 345-9791 |
| Website: | n/a |
| Branches: | 1 branch locations |
| Members: | 371 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68113 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1939 |
| Last Audited: | Nov 01, 2020 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $8,856,144 |
| CEO/Manager: | William L Gill II |
| Chairperson: | Myron G Boggess II |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,110,738 |
| TOTAL INVESTMENTS | 1,760,765 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 865,664 |
| Other Loans | 2,918,989 |
| TOTAL LOANS | 3,784,653 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -105,000 |
| Land And Building | 227,014 |
| Other Fixed Assets | 258 |
| NCUSIF Deposit | 75,694 |
| All Other Assets | 2,022 |
| TOTAL ASSETS | 8,856,144 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 97,157 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 0 |
| Regular shares | 7,951,856 |
| All Other Shares & Deposits | 0 |
| TOTAL SHARES & DEPOSITS | 7,951,856 |
| TOTAL LIABILITIES | 8,049,013 |
| Regular Reserve | 489,752 |
| Other Reserves | 0 |
| Undivided Earnings | 317,379 |
| TOTAL EQUITY | 807,131 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,856,144 |
| INCOME & EXPENSE | |
| Loan Income | 242,757 |
| Investment Income | 72,683 |
| Other Income | 264 |
| Total Employee Compensation & Benefits | 62,903 |
| NCUSIF Premiums Expense | 10,665 |
| Total Other Operating Expenses | 45,580 |
| Non-operating Income & (Expense) | 20,000 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 0 |
| Cost of Funds | 180,772 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 35,784 |
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