Dec, 31, 2023 — THE STATE CREDIT UNION is a federally insured state chartered credit union headquartered in CHARLESTON, WV with 1 branch location and about $83.86 million in total assets. Opened 36 years ago in 1988, THE STATE CREDIT UNION has about 8,365 members and employs 15 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | THE STATE CREDIT UNION |
|---|---|
| Address: (Main Office) | 2200 WASHINGTON ST E CHARLESTON, WV 25311-2219 |
| Phone: | (304) 558-0566 |
| Fax: | (304) 558-0137 |
| Website: | https://www.wvpecu.org |
| Branches: | 1 branch locations |
| Members: | 8,365 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 67222 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1988 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $83,859,747 |
| CEO/Manager: | BRENT R GRAY |
| Chairperson: | CHARLES MCDANIEL |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,827,229 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 17,776,851 |
| Unsecured Loans | 3,310,706 |
| Other Loans | 31,532,406 |
| TOTAL LOANS | 52,619,963 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -585,965 |
| Land And Building | 683,965 |
| Other Fixed Assets | 155,495 |
| NCUSIF Deposit | 695,306 |
| All Other Assets | 0 |
| TOTAL ASSETS | 83,859,747 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 497,283 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 206,412 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 8,747,154 |
| Regular shares | 48,730,104 |
| All Other Shares & Deposits | 10,888,311 |
| TOTAL SHARES & DEPOSITS | 68,365,568 |
| TOTAL LIABILITIES | 69,069,263 |
| Regular Reserve | 0 |
| Other Reserves | 902,055 |
| Undivided Earnings | 13,888,429 |
| TOTAL EQUITY | 14,790,484 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 83,859,747 |
| INCOME & EXPENSE | |
| Loan Income | 2,778,774 |
| Investment Income | 606,594 |
| Other Income | 416,666 |
| Total Employee Compensation & Benefits | 1,355,360 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,163,979 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 36,000 |
| Cost of Funds | 463,691 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,034,603 |
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