Dec, 31, 2023 — HOPEWELL CHEMICAL FEDERAL CREDIT UNION is a federal credit union headquartered in HOPEWELL, VA with 2 branch locations and about $49.64 million in total assets. Opened 59 years ago in 1965, HOPEWELL CHEMICAL FEDERAL CREDIT UNION has about 3,280 members and employs 12 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOPEWELL CHEMICAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 702 Elm St HOPEWELL, VA 23860 |
| Phone: | (804) 452-2480 |
| Fax: | (804) 452-5515 |
| Website: | https://www.hopechemfcu.org |
| Branches: | 2 branch locations |
| Members: | 3,280 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 16605 |
|---|---|
| Membership Type: | Multiple common bond - Primarily chemical |
| Corporate Credit Union: | No |
| Year Opened: | 1965 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $49,643,984 |
| CEO/Manager: | Lynda K Frink |
| Chairperson: | John W Tillett |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,288,912 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,813,049 |
| Unsecured Loans | 2,962,452 |
| Other Loans | 16,827,990 |
| TOTAL LOANS | 22,603,492 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -73,618 |
| Land And Building | 278,526 |
| Other Fixed Assets | 13,363 |
| NCUSIF Deposit | 449,411 |
| All Other Assets | 0 |
| TOTAL ASSETS | 49,643,984 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 787,246 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 6,592,707 |
| Regular shares | 25,991,543 |
| All Other Shares & Deposits | 11,504,509 |
| TOTAL SHARES & DEPOSITS | 44,088,760 |
| TOTAL LIABILITIES | 44,876,006 |
| Regular Reserve | 0 |
| Other Reserves | 708,288 |
| Undivided Earnings | 4,059,690 |
| TOTAL EQUITY | 4,767,978 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 49,643,984 |
| INCOME & EXPENSE | |
| Loan Income | 1,113,667 |
| Investment Income | 359,455 |
| Other Income | 94,391 |
| Total Employee Compensation & Benefits | 724,640 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 758,543 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,604 |
| Cost of Funds | 123,007 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 234,612 |
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