Dec, 31, 2023 — FIVE STAR OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in BALTIMORE, MD with 3 branch locations and about $56.99 million in total assets. Opened 55 years ago in 1969, FIVE STAR OF MARYLAND FEDERAL CREDIT UNION has about 5,165 members and employs 13 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIVE STAR OF MARYLAND FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 716 Maiden Choice Ln BALTIMORE, MD 21228 |
| Phone: | (443) 844-3242 |
| Fax: | (410) 869-8293 |
| Website: | https://www.fivestarfcu.org |
| Branches: | 3 branch locations |
| Members: | 5,165 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19668 |
|---|---|
| Membership Type: | Multiple common bond - Primarily health care |
| Corporate Credit Union: | No |
| Year Opened: | 1969 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $56,990,277 |
| CEO/Manager: | James M Whipp |
| Chairperson: | Paul Coakley |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 2,817,017 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 14,877,425 |
| Unsecured Loans | 2,977,454 |
| Other Loans | 8,637,880 |
| TOTAL LOANS | 26,492,759 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -46,754 |
| Land And Building | 609,539 |
| Other Fixed Assets | 91,112 |
| NCUSIF Deposit | 518,656 |
| All Other Assets | 0 |
| TOTAL ASSETS | 56,990,277 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 68,891 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 185,450 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 7,627,562 |
| Regular shares | 30,508,901 |
| All Other Shares & Deposits | 11,582,127 |
| TOTAL SHARES & DEPOSITS | 49,718,589 |
| TOTAL LIABILITIES | 49,972,930 |
| Regular Reserve | 0 |
| Other Reserves | 1,759,569 |
| Undivided Earnings | 5,257,778 |
| TOTAL EQUITY | 7,017,347 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 56,990,277 |
| INCOME & EXPENSE | |
| Loan Income | 1,337,028 |
| Investment Income | 605,250 |
| Other Income | 340,890 |
| Total Employee Compensation & Benefits | 1,092,819 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 943,938 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | -27,066 |
| Cost of Funds | 253,920 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 160,294 |
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