Dec, 31, 2023 — CHESSIE FEDERAL CREDIT UNION is a federal credit union headquartered in CUMBERLAND, MD with 10 branch locations and about $411.90 million in total assets. Opened 76 years ago in 1948, CHESSIE FEDERAL CREDIT UNION has about 34,383 members and employs 96 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | CHESSIE FEDERAL CREDIT UNION |
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Address: (Main Office) | 15 Commerce Dr CUMBERLAND, MD 21502 |
Phone: | (301) 777-1781 |
Fax: | (301) 777-1757 |
Website: | https://www.chessiefcu.org |
Branches: | 10 branch locations |
Members: | 34,383 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 5636 |
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Membership Type: | Multiple common bond - Primarily transportation |
Corporate Credit Union: | No |
Year Opened: | 1948 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $411,897,366 |
CEO/Manager: | Scott Kline |
Chairperson: | Walter R Beall |
ASSETS: | $ Amount |
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Cash & Equivalents | 50,775,019 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 138,552,341 |
Unsecured Loans | 17,999,700 |
Other Loans | 119,935,625 |
TOTAL LOANS | 277,936,974 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,509,665 |
Land And Building | 10,496,847 |
Other Fixed Assets | 1,345,172 |
NCUSIF Deposit | 3,839,832 |
All Other Assets | 484,336 |
TOTAL ASSETS | 411,897,366 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 2,633,742 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 71,060,006 |
Regular shares | 190,527,088 |
All Other Shares & Deposits | 102,050,282 |
TOTAL SHARES & DEPOSITS | 363,637,378 |
TOTAL LIABILITIES | 366,460,334 |
Regular Reserve | 0 |
Other Reserves | 11,679,567 |
Undivided Earnings | 33,757,465 |
TOTAL EQUITY | 45,437,032 |
TOTAL LIABILITIES, SHARES, & EQUITY | 411,897,366 |
INCOME & EXPENSE | |
Loan Income | 13,580,446 |
Investment Income | 3,801,777 |
Other Income | 4,600,161 |
Total Employee Compensation & Benefits | 6,632,780 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,854,711 |
Non-operating Income & (Expense) | -19,900 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 539,418 |
Cost of Funds | 2,139,219 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 5,318,971 |
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