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MOUNTAIN HERITAGE FEDERAL CREDIT UNION

Dec, 31, 2023 — MOUNTAIN HERITAGE FEDERAL CREDIT UNION is a federal credit union headquartered in PARKERSBURG, WV with 3 branch locations and about $47.98 million in total assets. Opened 66 years ago in 1958, MOUNTAIN HERITAGE FEDERAL CREDIT UNION has about 8,588 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:MOUNTAIN HERITAGE FEDERAL CREDIT UNION
Address:
(Main Office)
1822 7th St
PARKERSBURG, WV 26101
Phone:(304) 424-7256
Fax:(304) 428-2127
Website:https://www.mhfcu.net
Branches:3 branch locations
Members:8,588
Credit Union Type:Federal Credit Union
Charter Number:12470
Membership Type:Multiple common bond - Primarily federal, state, local government
Corporate Credit Union:No
Year Opened:1958
Last Audited:Sep 01, 2023
FHLB Member:No
Low Income Designation:No
Assets:$47,984,833
CEO/Manager:Douglas D Hershman
Chairperson:Brian S Clay

Call Report

  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 2,764,755
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,464,151
 Unsecured Loans 4,812,741
 Other Loans 29,968,422
 TOTAL LOANS 37,245,314
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -544,384
 Land And Building 185,099
 Other Fixed Assets 10,987
 NCUSIF Deposit 439,042
 All Other Assets 20,561
  TOTAL ASSETS 47,984,833
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 246,862
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,402,956
 Regular shares 18,951,478
 All Other Shares & Deposits 14,347,243
  TOTAL SHARES & DEPOSITS 41,701,677
  TOTAL LIABILITIES 41,948,539
 Regular Reserve 0
 Other Reserves 622,086
 Undivided Earnings 5,414,208
  TOTAL EQUITY 6,036,294
  TOTAL LIABILITIES, SHARES, & EQUITY 47,984,833
INCOME & EXPENSE  
 Loan Income 2,168,344
 Investment Income 225,999
 Other Income 196,119
 Total Employee Compensation & Benefits 650,322
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 1,407,553
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 300,000
 Cost of Funds 296,308
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 323,623
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