Dec, 31, 2023 — MARTINSVILLE DUPONT EMP CREDIT UNION is a federally insured state chartered credit union headquartered in MARTINSVILLE, VA with 6 branch locations and about $659.94 million in total assets. Opened 71 years ago in 1953, MARTINSVILLE DUPONT EMP CREDIT UNION has about 45,432 members and employs 163 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MARTINSVILLE DUPONT EMP CREDIT UNION |
|---|---|
| Address: (Main Office) | 35 Dupont Rd MARTINSVILLE, VA 24112-4618 |
| Phone: | (276) 632-1679 |
| Fax: | (276) 632-9610 |
| Website: | https://www.valleystar.org |
| Branches: | 6 branch locations |
| Members: | 45,432 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66924 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1953 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $659,942,270 |
| CEO/Manager: | Mike Warrell |
| Chairperson: | James B Rorrer |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,814,702 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 334,624,448 |
| Unsecured Loans | 41,788,043 |
| Other Loans | 136,798,224 |
| TOTAL LOANS | 513,210,715 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,359,210 |
| Land And Building | 19,782,127 |
| Other Fixed Assets | 5,447,976 |
| NCUSIF Deposit | 4,596,670 |
| All Other Assets | 96,776 |
| TOTAL ASSETS | 659,942,270 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 75,000,000 |
| Accounts Payable & Other Liabilities | 11,801,801 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 87,409,063 |
| Regular shares | 198,825,286 |
| All Other Shares & Deposits | 233,369,206 |
| TOTAL SHARES & DEPOSITS | 519,603,555 |
| TOTAL LIABILITIES | 606,405,356 |
| Regular Reserve | 0 |
| Other Reserves | -3,639,378 |
| Undivided Earnings | 57,176,292 |
| TOTAL EQUITY | 53,536,914 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 659,942,270 |
| INCOME & EXPENSE | |
| Loan Income | 32,113,835 |
| Investment Income | 2,853,120 |
| Other Income | 9,422,274 |
| Total Employee Compensation & Benefits | 14,131,728 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 14,906,991 |
| Non-operating Income & (Expense) | 81,734 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,387,718 |
| Cost of Funds | 8,723,205 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,562,614 |
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