Dec, 31, 2023 — OMEGA FEDERAL CREDIT UNION is a federal credit union headquartered in WEXFORD, PA with 7 branch locations and about $161.32 million in total assets. Opened 84 years ago in 1940, OMEGA FEDERAL CREDIT UNION has about 13,697 members and employs 35 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OMEGA FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 10455 Perry Hwy WEXFORD, PA 15090-9204 |
| Phone: | (412) 369-3800 |
| Fax: | |
| Website: | https://www.omegafcu.com |
| Branches: | 7 branch locations |
| Members: | 13,697 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3711 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $161,322,975 |
| CEO/Manager: | Troy L Garvin |
| Chairperson: | Robert L Valasek |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,778,125 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 82,356,305 |
| Unsecured Loans | 12,653,908 |
| Other Loans | 28,027,397 |
| TOTAL LOANS | 123,361,455 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,333,153 |
| Land And Building | 2,136,337 |
| Other Fixed Assets | 526,563 |
| NCUSIF Deposit | 1,454,882 |
| All Other Assets | 57,847 |
| TOTAL ASSETS | 161,322,975 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 106,551 |
| Notes & Interest Payable | 420,582 |
| Accounts Payable & Other Liabilities | 1,259,894 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 19,748,992 |
| Regular shares | 84,701,107 |
| All Other Shares & Deposits | 38,059,914 |
| TOTAL SHARES & DEPOSITS | 142,510,016 |
| TOTAL LIABILITIES | 144,297,043 |
| Regular Reserve | 0 |
| Other Reserves | 4,504,413 |
| Undivided Earnings | 12,521,519 |
| TOTAL EQUITY | 17,025,932 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 161,322,975 |
| INCOME & EXPENSE | |
| Loan Income | 6,044,280 |
| Investment Income | 954,872 |
| Other Income | 1,029,931 |
| Total Employee Compensation & Benefits | 2,817,496 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,163,333 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 560,000 |
| Cost of Funds | 631,218 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,806,904 |
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