Dec, 31, 2023 — HOPE FEDERAL CREDIT UNION is a federal credit union headquartered in BRIDGEPORT, WV with 1 branch location and about $38.29 million in total assets. Opened 89 years ago in 1935, HOPE FEDERAL CREDIT UNION has about 2,356 members and employs 4 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HOPE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 925 White Oaks Blvd. BRIDGEPORT, WV 26330 |
| Phone: | (681) 842-3065 |
| Fax: | (681) 842-3045 |
| Website: | https://www.hopefcu.com |
| Branches: | 1 branch locations |
| Members: | 2,356 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 220 |
|---|---|
| Membership Type: | Multiple common bond - Primarily communications and utilities |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $38,288,085 |
| CEO/Manager: | Michael A Dean |
| Chairperson: | Lynette Green |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 9,171,837 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 0 |
| Unsecured Loans | 3,493,519 |
| Other Loans | 15,761,074 |
| TOTAL LOANS | 19,254,593 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -151,713 |
| Land And Building | 0 |
| Other Fixed Assets | 4,331 |
| NCUSIF Deposit | 272,806 |
| All Other Assets | 0 |
| TOTAL ASSETS | 38,288,085 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 104,770 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 7,199 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,414,466 |
| Regular shares | 19,494,224 |
| All Other Shares & Deposits | 9,739,198 |
| TOTAL SHARES & DEPOSITS | 30,647,886 |
| TOTAL LIABILITIES | 30,759,855 |
| Regular Reserve | 0 |
| Other Reserves | 0 |
| Undivided Earnings | 7,528,230 |
| TOTAL EQUITY | 7,528,230 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 38,288,085 |
| INCOME & EXPENSE | |
| Loan Income | 916,952 |
| Investment Income | 639,765 |
| Other Income | 18,646 |
| Total Employee Compensation & Benefits | 402,218 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 198,197 |
| Non-operating Income & (Expense) | 4,535 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 76,919 |
| Cost of Funds | 541,267 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 361,297 |
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