Dec, 31, 2023 — FEDCHOICE FEDERAL CREDIT UNION is a federal credit union headquartered in LANHAM, MD with 5 branch locations and about $431.53 million in total assets. Opened 89 years ago in 1935, FEDCHOICE FEDERAL CREDIT UNION has about 24,392 members and employs 79 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FEDCHOICE FEDERAL CREDIT UNION |
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Address: (Main Office) | 10001 Willowdale Rd LANHAM, MD 20706-4321 |
Phone: | (301) 699-6100 |
Fax: | |
Website: | https://www.fedchoice.org |
Branches: | 5 branch locations |
Members: | 24,392 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 150 |
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Membership Type: | Federal, State, Local Government |
Corporate Credit Union: | No |
Year Opened: | 1935 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $431,528,837 |
CEO/Manager: | Brett Noll |
Chairperson: | Arthur Altman |
ASSETS: | $ Amount |
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Cash & Equivalents | 16,364,180 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 0 |
Real Estate Loans | 159,849,498 |
Unsecured Loans | 41,118,132 |
Other Loans | 88,818,462 |
TOTAL LOANS | 290,173,637 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,989,718 |
Land And Building | 4,367,515 |
Other Fixed Assets | 397,855 |
NCUSIF Deposit | 3,557,847 |
All Other Assets | 936,374 |
TOTAL ASSETS | 431,528,837 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 0 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 5,738,345 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 94,599,216 |
Regular shares | 135,279,100 |
All Other Shares & Deposits | 162,852,705 |
TOTAL SHARES & DEPOSITS | 392,731,021 |
TOTAL LIABILITIES | 398,469,366 |
Regular Reserve | 0 |
Other Reserves | -6,613,978 |
Undivided Earnings | 39,673,449 |
TOTAL EQUITY | 33,059,471 |
TOTAL LIABILITIES, SHARES, & EQUITY | 431,528,837 |
INCOME & EXPENSE | |
Loan Income | 15,267,777 |
Investment Income | 5,691,694 |
Other Income | 1,884,827 |
Total Employee Compensation & Benefits | 9,297,415 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 7,085,995 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,956,132 |
Cost of Funds | 4,460,197 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 2,737,059 |
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