Jun, 30, 2024 — BAYLANDS FAMILY CREDIT UNION is a federally insured state chartered credit union headquartered in WEST POINT, VA with 4 branch locations and about $94.94 million in total assets. Opened 78 years ago in 1946, BAYLANDS FAMILY CREDIT UNION has about 5,937 members and employs 30 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | BAYLANDS FAMILY CREDIT UNION |
|---|---|
| Address: (Main Office) | 2004 MAIN STREET WEST POINT, VA 23181 |
| Phone: | (804) 843-2520 |
| Fax: | (804) 843-4859 |
| Website: | https://www.baylandsfcu.org |
| Branches: | 4 branch locations |
| Members: | 5,937 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68686 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1946 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $94,939,032 |
| CEO/Manager: | Teresa P Millis |
| Chairperson: | George R Carter |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 4,120,498 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 19,189,021 |
| Unsecured Loans | 5,400,327 |
| Other Loans | 21,252,061 |
| TOTAL LOANS | 46,257,274 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -258,121 |
| Land And Building | 2,987,427 |
| Other Fixed Assets | 474,589 |
| NCUSIF Deposit | 892,766 |
| All Other Assets | 34,635 |
| TOTAL ASSETS | 94,939,032 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 20,070 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 515,536 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 21,344,055 |
| Regular shares | 36,411,357 |
| All Other Shares & Deposits | 33,096,025 |
| TOTAL SHARES & DEPOSITS | 90,851,437 |
| TOTAL LIABILITIES | 91,387,043 |
| Regular Reserve | 0 |
| Other Reserves | -3,194,567 |
| Undivided Earnings | 6,746,556 |
| TOTAL EQUITY | 3,551,989 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 94,939,032 |
| INCOME & EXPENSE | |
| Loan Income | 1,725,179 |
| Investment Income | 276,319 |
| Other Income | 449,660 |
| Total Employee Compensation & Benefits | 1,282,921 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,195,267 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 78,198 |
| Cost of Funds | 122,669 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 88,866 |
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