Dec, 31, 2023 — DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION is a federal credit union headquartered in WASHINGTON, DC with 3 branch locations and about $845.60 million in total assets. Opened 60 years ago in 1964, DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION has about 29,909 members and employs 102 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION |
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Address: (Main Office) | 1401 Constitution Ave NW Rm B-0038A WASHINGTON, DC 20230-0001 |
Phone: | (202) 808-3600 |
Fax: | (202) 482-4317 |
Website: | https://www.docfcu.org |
Branches: | 3 branch locations |
Members: | 29,909 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 16410 |
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Membership Type: | Multiple common bond - Primarily federal, state, local government |
Corporate Credit Union: | No |
Year Opened: | 1964 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $845,599,864 |
CEO/Manager: | Patrick T Collins |
Chairperson: | Brian x Digiacomo |
ASSETS: | $ Amount |
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Cash & Equivalents | 17,804,172 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 466,079,801 |
Unsecured Loans | 151,652,584 |
Other Loans | 132,655,749 |
TOTAL LOANS | 750,388,134 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,619,052 |
Land And Building | 0 |
Other Fixed Assets | 1,369,729 |
NCUSIF Deposit | 6,297,678 |
All Other Assets | 0 |
TOTAL ASSETS | 845,599,864 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | -2,400,000 |
Accounts Payable & Other Liabilities | 21,714,650 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 8,400,000 |
Share Drafts | 94,302,460 |
Regular shares | 108,906,471 |
All Other Shares & Deposits | 570,690,677 |
TOTAL SHARES & DEPOSITS | 773,899,608 |
TOTAL LIABILITIES | 801,614,258 |
Regular Reserve | 0 |
Other Reserves | -1,221,046 |
Undivided Earnings | 45,206,652 |
TOTAL EQUITY | 43,985,606 |
TOTAL LIABILITIES, SHARES, & EQUITY | 845,599,864 |
INCOME & EXPENSE | |
Loan Income | 39,651,103 |
Investment Income | 2,839,268 |
Other Income | 7,126,882 |
Total Employee Compensation & Benefits | 14,409,948 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 17,555,693 |
Non-operating Income & (Expense) | 1,500 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 11,274,999 |
Cost of Funds | 20,094,833 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | -8,323,204 |
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