Work-in-progress version of SherPa. Work-in-progress version of SherPa.
West Virginia
Last updated on 2014-02-01
General
not credit union specific
- Officer Loan Status
- Not specifically addressed
- Officer Loan Comment
- "interested transaction" okay if (1) material facts disclosed or known, (2) the transaction is authorized by majority of disinterested directors, and (3) the transaction is fair at the time it is ratified
- Officer Loan Statute
- W. Va. Code §§ 31E-3-302(8, 11), 31E-8-860
Credit Union Information
- Split Dollar Process
- Ask
- Split Dollar Comment
- —
- Parity Process
- Ask
- Parity Comment
- Somewhat restrictive
- Parity Statute
- —
- Alternative To Parity Request
- —
- CDA Status
- Probably allowed
- CDA Comment
- Probably okay but not applicable, only has small SCCUs
- Director Compensation Status
- No compensation. Insurance okay.
- Director Compensation Statute
- W. Va. Code § 31C-5-4
- Credit Union Regulator
State Chartered Credit Unions
3 credit unions chartered in West Virginia
| Name | Charter Number | CEO | Total Assets | Net Worth | CA SD | Concentration |
|---|---|---|---|---|---|---|
| THE STATE | 67222 | BRENT GRAY | $88,586,090 | $13,155,731 | $0 | 0% |
| W. VIRGINIA STATE CONVENTION | 68112 | Frances Jackson | $312,706 | $24,761 | $0 | 0% |
| LOCAL NO. 317 I.A.F.F. | 68113 | William Gill II | $9,390,421 | $837,414 | $0 | 0% |