Dec, 31, 2023 — UNIVERSAL FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTINGTON, WV with 3 branch locations and about $90.47 million in total assets. Opened 89 years ago in 1935, UNIVERSAL FEDERAL CREDIT UNION has about 6,330 members and employs 20 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | UNIVERSAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 317 31st ST HUNTINGTON, WV 25702-1417 |
| Phone: | (304) 697-2919 |
| Fax: | (304) 522-3177 |
| Website: | https://www.universalfcu.com |
| Branches: | 3 branch locations |
| Members: | 6,330 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 785 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Mar 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $90,472,151 |
| CEO/Manager: | Jason Hutchinson |
| Chairperson: |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 7,101,927 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 9,300,313 |
| Unsecured Loans | 1,018,057 |
| Other Loans | 20,232,091 |
| TOTAL LOANS | 30,550,461 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -99,387 |
| Land And Building | 1,474,952 |
| Other Fixed Assets | 122,456 |
| NCUSIF Deposit | 793,478 |
| All Other Assets | 0 |
| TOTAL ASSETS | 90,472,151 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,929 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | -858,677 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 15,065,877 |
| Regular shares | 59,495,202 |
| All Other Shares & Deposits | 4,966,771 |
| TOTAL SHARES & DEPOSITS | 79,527,850 |
| TOTAL LIABILITIES | 78,672,102 |
| Regular Reserve | 0 |
| Other Reserves | -321,954 |
| Undivided Earnings | 12,122,003 |
| TOTAL EQUITY | 11,800,049 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 90,472,151 |
| INCOME & EXPENSE | |
| Loan Income | 1,311,085 |
| Investment Income | 980,136 |
| Other Income | 213,469 |
| Total Employee Compensation & Benefits | 1,543,146 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 957,572 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 39,035 |
| Cost of Funds | 66,105 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 195,627 |
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