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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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