Dec, 31, 2023 — NEWPORT NEWS MUN. EMP CREDIT UNION is a federally insured state chartered credit union headquartered in NEWPORT NEWS, VA with 1 branch location and about $51.94 million in total assets. Opened 74 years ago in 1950, NEWPORT NEWS MUN. EMP CREDIT UNION has about 4,244 members and employs 8 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | NEWPORT NEWS MUN. EMP CREDIT UNION |
|---|---|
| Address: (Main Office) | 502 Operations Dr NEWPORT NEWS, VA 23602-6989 |
| Phone: | (757) 249-1003 |
| Fax: | (757) 249-1202 |
| Website: | https://www.nnmecu.org |
| Branches: | 1 branch locations |
| Members: | 4,244 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66970 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1950 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $51,942,035 |
| CEO/Manager: | Edna F McDuffie |
| Chairperson: | Michael D Poplawski |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 5,053,379 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 6,449,930 |
| Unsecured Loans | 3,640,670 |
| Other Loans | 15,162,674 |
| TOTAL LOANS | 25,253,274 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -276,985 |
| Land And Building | 233,567 |
| Other Fixed Assets | 82,593 |
| NCUSIF Deposit | 492,993 |
| All Other Assets | 0 |
| TOTAL ASSETS | 51,942,035 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 241,341 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 13,588,381 |
| Regular shares | 34,631,032 |
| All Other Shares & Deposits | 1,353,258 |
| TOTAL SHARES & DEPOSITS | 49,572,671 |
| TOTAL LIABILITIES | 49,814,012 |
| Regular Reserve | 0 |
| Other Reserves | -1,522,675 |
| Undivided Earnings | 3,650,698 |
| TOTAL EQUITY | 2,128,023 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 51,942,035 |
| INCOME & EXPENSE | |
| Loan Income | 1,143,240 |
| Investment Income | 658,608 |
| Other Income | 260,039 |
| Total Employee Compensation & Benefits | 723,243 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 941,304 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 82,359 |
| Cost of Funds | 552 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 398,450 |
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