Dec, 31, 2023 — REV FEDERAL CREDIT UNION is a federal credit union headquartered in SUMMERVILLE, SC with 20 branch locations and about $1.10 billion in total assets. Opened 69 years ago in 1955, REV FEDERAL CREDIT UNION has about 67,357 members and employs 235 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | REV FEDERAL CREDIT UNION |
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Address: (Main Office) | 200 Marymeade Dr SUMMERVILLE, SC 29483 |
Phone: | (843) 832-2600 |
Fax: | (843) 832-2649 |
Website: | https://www.revfcu.com |
Branches: | 20 branch locations |
Members: | 67,357 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 9986 |
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Membership Type: | Multiple common bond - Primarily military |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $1,101,129,665 |
CEO/Manager: | Jason S Lee |
Chairperson: | Troy D Draughn |
ASSETS: | $ Amount |
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Cash & Equivalents | 155,402,328 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 492,304,119 |
Unsecured Loans | 51,744,353 |
Other Loans | 329,222,581 |
TOTAL LOANS | 873,271,054 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -13,289,887 |
Land And Building | 28,937,405 |
Other Fixed Assets | 6,656,698 |
NCUSIF Deposit | 8,335,467 |
All Other Assets | 495,189 |
TOTAL ASSETS | 1,101,129,665 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 40,000,000 |
Accounts Payable & Other Liabilities | 15,150,220 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 62,593,000 |
Share Drafts | 198,127,429 |
Regular shares | 301,297,979 |
All Other Shares & Deposits | 391,407,761 |
TOTAL SHARES & DEPOSITS | 890,833,168 |
TOTAL LIABILITIES | 1,008,718,959 |
Regular Reserve | 0 |
Other Reserves | 11,110,914 |
Undivided Earnings | 81,299,792 |
TOTAL EQUITY | 92,410,706 |
TOTAL LIABILITIES, SHARES, & EQUITY | 1,101,129,665 |
INCOME & EXPENSE | |
Loan Income | 47,716,897 |
Investment Income | 3,313,552 |
Other Income | 8,583,498 |
Total Employee Compensation & Benefits | 22,552,716 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 20,625,663 |
Non-operating Income & (Expense) | -113,308 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,039,596 |
Cost of Funds | 10,590,799 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 6,970,284 |
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