Dec, 31, 2023 — FERKO MD FEDERAL CREDIT UNION is a federal credit union headquartered in FREDERICK, MD with 1 branch location and about $31.49 million in total assets. Opened 69 years ago in 1955, FERKO MD FEDERAL CREDIT UNION has about 3,676 members and employs 6 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FERKO MD FEDERAL CREDIT UNION |
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Address: (Main Office) | 502 W Patrick St FREDERICK, MD 21701 |
Phone: | (301) 662-7266 |
Fax: | (301) 662-4525 |
Website: | https://www.ferkomfcu.com |
Branches: | 1 branch locations |
Members: | 3,676 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 10381 |
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Membership Type: | Educational |
Corporate Credit Union: | No |
Year Opened: | 1955 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | No |
Low Income Designation: | No |
Assets: | $31,493,477 |
CEO/Manager: | Jeffrey T Perrell |
Chairperson: | Thomas w Van Pelt |
ASSETS: | $ Amount |
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Cash & Equivalents | 3,579,224 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 0 |
Unsecured Loans | 1,947,592 |
Other Loans | 11,549,764 |
TOTAL LOANS | 13,497,356 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -108,366 |
Land And Building | 0 |
Other Fixed Assets | 0 |
NCUSIF Deposit | 326,637 |
All Other Assets | 0 |
TOTAL ASSETS | 31,493,477 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 15,259 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 423,430 |
Regular shares | 26,481,688 |
All Other Shares & Deposits | 0 |
TOTAL SHARES & DEPOSITS | 26,905,118 |
TOTAL LIABILITIES | 26,920,377 |
Regular Reserve | 0 |
Other Reserves | 223,250 |
Undivided Earnings | 4,349,850 |
TOTAL EQUITY | 4,573,100 |
TOTAL LIABILITIES, SHARES, & EQUITY | 31,493,477 |
INCOME & EXPENSE | |
Loan Income | 596,013 |
Investment Income | 501,764 |
Other Income | 23,688 |
Total Employee Compensation & Benefits | 325,847 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 354,056 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,958 |
Cost of Funds | 63,305 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 398,768 |
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