Dec, 31, 2023 — SKYPOINT FEDERAL CREDIT UNION is a federal credit union headquartered in GERMANTOWN, MD with 3 branch locations and about $214.55 million in total assets. Opened 56 years ago in 1968, SKYPOINT FEDERAL CREDIT UNION has about 13,485 members and employs 43 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SKYPOINT FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 19785 CRYSTAL ROCK DR Ste 201 GERMANTOWN, MD 20874 |
| Phone: | (301) 528-8421 |
| Fax: | (301) 528-8253 |
| Website: | https://www.skypointfcu.com |
| Branches: | 3 branch locations |
| Members: | 13,485 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18917 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1968 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $214,548,205 |
| CEO/Manager: | Carla Decker |
| Chairperson: | Melvin Tull |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 1,947,276 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 92,554,330 |
| Unsecured Loans | 35,844,742 |
| Other Loans | 34,548,702 |
| TOTAL LOANS | 162,947,774 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -2,117,580 |
| Land And Building | 6,442,790 |
| Other Fixed Assets | 494,405 |
| NCUSIF Deposit | 1,707,390 |
| All Other Assets | 60,000 |
| TOTAL ASSETS | 214,548,205 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 17,000,000 |
| Accounts Payable & Other Liabilities | 2,449,124 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 7,000,000 |
| Share Drafts | 44,487,937 |
| Regular shares | 90,466,910 |
| All Other Shares & Deposits | 34,779,380 |
| TOTAL SHARES & DEPOSITS | 169,734,226 |
| TOTAL LIABILITIES | 196,183,350 |
| Regular Reserve | 0 |
| Other Reserves | -2,290,907 |
| Undivided Earnings | 20,655,762 |
| TOTAL EQUITY | 18,364,855 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 214,548,205 |
| INCOME & EXPENSE | |
| Loan Income | 9,301,340 |
| Investment Income | 1,191,407 |
| Other Income | 1,810,055 |
| Total Employee Compensation & Benefits | 4,414,672 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 5,856,539 |
| Non-operating Income & (Expense) | 130,683 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 940,838 |
| Cost of Funds | 1,272,867 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 1,685,541 |
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